Integrated Micro-Electronics, Inc.(IMI) made a press release today stating that it opened its 21st Manufacturing Site in Serbia. IMI is the fifth largest automotive EMS in the world.
The company, a subsidiary of AC Industrials Technology Holdings, Inc .(AC Industrials), was inaugurated IMI Serbia on September 29, 2018. This new plant will complement facilities in China, Bulgaria, the Philippines, Germany, Mexico, Japan, United Kingdom, Czech Republic, and the United States.
Furthermore, this new facility allows IMI to expand its global footprint and support the continuing demand for automotive components in Europe. Products of the company include sensing cameras, lighting, advanced driver assistance systems, body control modules, battery management, and displays.
The branch also forms part of the company’s thrust in supporting recent trends such as electronic cars, autonomous driving, electric power, and shared mobility. This location will also help the Serbian economy boost its competitiveness as an investment location.
Rising Revenue Size
On July 30, 2018, IMI rose from sixth place to fifth in the world regarding automotive EMS revenue size at the end of 2017.
The company had revenues of USD 378 million in 2016. It rose to USD 446 million in 2017, an 18 percent increase.
For the first six months of the year, revenues from sales and services reached USD 668 million. This figure is higher by 33.48 percent versus the recorded USD 501 million in the same period in 2017.
Revenues from acquired business totaled USD 154.20 million for the first half of the year. VIA Optronics generated USD 100.30 million in revenues, which is a 51 percent increase.
Meanwhile, STI’s revenues for the same period totaled USD 53.90 million.
Sales from Europe totaled USD 170.10 million, a 29 percent increase. Revenues from China totaled USD 162.10 million, which is higher by 27 percent.
Furthermore, revenues from the Philippines totaled USD 136.0 million, an increase of 5 percent. The automotive camera business and new industrial applications drove the rise in sales.
However, the decline in demand for security and medical device businesses affected the company’s total financial record.
Net income totaled USD 31.58 million or PHP 1.65 billion, an 85 percent increase versus the same period in 2017. This amount was mainly caused by a one-time gain from the SZ transaction amounting to USD 19.06. Net income would’ve only increased by 28 percent if this item is not included.
Technical Analysis
IMI is still on a downtrend but seems to reverse. The 15 EMA and 20 SMA currently act as support while the 50 SMA as resistance.
However, volume has not picked up yet on the bullish candles. MACD already made a bullish crossover.
Moreover, RSI is bullish and is currently at neutral levels. Estimated support is at 11.91 while expected resistance is at 13.39.
Volume
As of October 3, 2018, at 03:30 PM, the volume of IMI is 63.81% of the previous trading day. This stock’s latest volume is still below its 30-day volume average.
Remember the correlation between price and volume.
bullish price + volume above the 30-day volume average = bullish
bullish price + volume below the 30-day volume average = neutral
bearish price + volume above the 30-day volume average = bearish
bearish price + volume below the 30-day volume average = bearish
Risk Level
IMI has a LOW-RISK level due to its risk percentage of 22.01%.
Foreign Fund Flow
IMI registered a Net Foreign Selling worth P281,904,212.85 as of October 03, 2018. On a 30-day trading period, IMI is on a Net Foreign Selling worth PHP12,228,373,825.17.
Top 10 Players’ Sentiment
Trading participants of IMI with a 100% Buying and Selling Activity as of Oct-03-2018 at 03:30 PM:
9 out of 22 participants or 40.91% of all participants registered a 100% BUYING activity
4 out of 22 participants or 18.18% of all participants registered a 100% SELLING activity
Top 10 Players’ Buying Average: 12.4564
Top 10 Players’ Selling Average: 12.4522
The psychological average price of the top 10 players as of Oct-03-2018 at 03:30 PM is from 12.4522 to 12.4564.
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