Foxsemicon Integrated Technology Inc., a major Taiwanese semiconductor equipment manufacturer, achieved record-breaking results in 2023, fueled by robust demand from its key US customers. The company posted NT$26.13 billion ($830.6 million) in net profit, jumping 31.31% year-over-year, with earnings per share reaching an all-time high of NT$25.22.
The company’s board approved a cash dividend of NT$14.5 per share, representing a 4.43% yield based on its February 26 closing price of NT$327. At this price, Foxsemicon trades at a price-to-earnings ratio of just 12.9, notably lower than other high-priced stocks in the semiconductor supply chain.
Foxsemicon’s fourth-quarter revenue surged to a record NT$4.8 billion, up 42% from the previous year. Looking ahead, the company expects first and second quarter revenues to maintain these high levels, with order visibility extending through the second quarter.
When asked about potential impacts from US-China chip restrictions, Foxsemicon noted that its key customers had already limited their China market exposure. The company emphasized that global semiconductor equipment demand is increasingly focused on advanced processes, with strong equipment orders for 2nm technology.
The company’s newly operational factory in Rayong, Thailand, is expected to begin mass production in the third quarter, becoming a significant contributor to 2024 revenue growth. Foxsemicon has also established a small production center in Silicon Valley focused on critical modules and new product development, with additional operational bases in California, Texas, and a planned office in Arizona to navigate changing international policies.
