Hot Stock Globetronics shoot up to 52-week high

by **Cals** Mon 23 Mar 2015, 23:08

Hot Stock
Globetronics shoot up to 52-week high

By Liew Jia Teng / theedgemarkets.com | March 23, 2015 : 12:35 PM MYT

KUALA LUMPUR (Mar 23): Shares of [size=14]Globetronics Technology Bhd ([You must be registered and logged in to see this image.] Financial Dashboard) rose to a 52-week high of RM5.48 as at midday today as the company expects its sensors segment to displace quartz crystal timing devices segment as the largest contributor in 2015.

At 12.07pm today, Globetronics was up 15 sen or 2.8% to RM5.45, with 911,400 shares done. The counter, which was traded between RM5.30 to RM5.48 today, was the ninth-largest gainer on Bursa Malaysia.

Year-to-date, Globetronics' shares price has surged by RM1.22 or 28.8%, up from RM4.23 on Dec 31 last year.

According to theedgemarkets.com, the likelihood of corporate exercise for Globetronics (fundamental: 3; valuation: 2.10) is high.

In an interview with The Edge Financial Daily, Globetronics CEO Heng Huck Lee said the company had set aside capital expenditure of RM45 million, a bulk of which would go towards developing new sensor products.

The semiconductor-based products contract manufacturer anticipates its sensors segment to make up 40% of the group’s revenue in financial year ended Dec 31, 2015 (FY15), compared with 30% in FY2014. Last year, the quartz crystal timing devices segment was the largest contributor to the group’s topline at 36%.

(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)
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