Giga Device Semiconductor Inc. Class H (HK:3986)
:3986
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Giga Device Semiconductor Inc. Class H
(3986)
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Rating:78Outperform
Price Target:
$961.00
Action:Reiterated
Date:06/18/26
The score is driven primarily by strong financial performance (TTM growth, expanded margins, strong cash generation) and a very low-leverage balance sheet, supported by bullish technical trend signals (price above key moving averages with positive MACD). The main offset is valuation risk from a very high P/E, despite a high dividend yield.
Positive Factors
Revenue and Margin Recovery
Sustained TTM revenue growth and materially expanded gross and net margins reflect improved pricing, product mix and operating leverage. These structural margin gains support durable cash generation and profitability over the next several quarters, improving reinvestment and dividend capacity.
Negative Factors
Cyclical Demand Sensitivity
The business is exposed to semiconductor cycle swings that have previously driven sharp revenue and margin reversals. Structural cyclicality makes medium-term revenue predictability and capacity planning difficult, raising execution risk for sustaining current profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and Margin Recovery
Sustained TTM revenue growth and materially expanded gross and net margins reflect improved pricing, product mix and operating leverage. These structural margin gains support durable cash generation and profitability over the next several quarters, improving reinvestment and dividend capacity.
Read all positive factors
Giga Device Semiconductor Inc. Class H (3986) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$629.04B
Dividend YieldN/A
Average Volume (3M)N/A
Price to Earnings (P/E)218.9
Beta (1Y)-0.52
Revenue Growth53.72%
EPS GrowthN/A
CountryHK
Employees2,087
SectorTechnology
Sector Strength88
IndustrySemiconductors
Share Statistics
EPS (TTM)4.29
Shares Outstanding33,253,100
10 Day Avg. VolumeN/A
30 Day Avg. VolumeN/A
Financial Highlights & Ratios
PEG Ratio1.66
Price to Book (P/B)7.03
Price to Sales (P/S)14.94
P/FCF Ratio123.65
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$1,254.00Price Target Upside― Downside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)10.47
Revenue Forecast (FY)HK$21.03B
Giga Device Semiconductor Inc. Class H Business Overview & Revenue Model
Company Description
GigaDevice Semiconductor Inc., founded in Beijing, China, in 2005, specializes in the research, development, technical support, and global distribution of a broad array of semiconductor components. The company's diverse product portfolio includes ...
How the Company Makes Money
GigaDevice makes money primarily by selling its semiconductor products to electronics manufacturers and original design manufacturers (ODMs/OEMs) through direct sales and distribution channels. Key revenue streams include: (1) Non-volatile memory ...
Giga Device Semiconductor Inc. Class H Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
92
Very Positive
Cash Flow
78
Positive
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.37B | 8.94B | 7.47B | 5.75B | 8.24B | 8.34B |
| Gross Profit | 5.10B | 3.28B | 2.49B | 1.61B | 3.62B | 3.66B |
| EBITDA | 2.09B | 2.17B | 1.64B | 579.50M | 2.70B | 2.77B |
| Net Income | 2.85B | 1.61B | 1.12B | 161.25M | 2.10B | 2.30B |
Balance Sheet | ||||||
| Total Assets | 27.68B | 21.40B | 19.23B | 16.46B | 16.65B | 15.42B |
| Cash, Cash Equivalents and Short-Term Investments | 15.06B | 9.29B | 9.25B | 9.07B | 8.73B | 9.02B |
| Total Debt | 95.92M | 242.71M | 946.24M | 74.39M | 89.90M | 107.88M |
| Total Liabilities | 2.25B | 2.17B | 2.55B | 1.26B | 1.46B | 1.94B |
| Stockholders Equity | 25.19B | 19.01B | 16.50B | 15.20B | 15.19B | 13.48B |
Cash Flow | ||||||
| Free Cash Flow | 2.54B | 1.08B | 1.53B | 838.39M | 398.85M | 1.64B |
| Operating Cash Flow | 3.70B | 2.13B | 2.03B | 1.19B | 949.69M | 2.26B |
| Investing Cash Flow | -2.35B | -1.39B | -669.34M | -294.90M | -43.73M | -3.28B |
| Financing Cash Flow | 3.98B | -516.86M | 480.38M | -572.60M | -780.31M | 232.98M |
Giga Device Semiconductor Inc. Class H Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
78 Outperform | HK$629.04B | 218.92 | 14.30% | ― | 53.72% | ― | |
68 Neutral | HK$342.33B | 167.00 | 17.16% | ― | 40.74% | ― | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
58 Neutral | HK$124.10B | 28.25 | 12.79% | ― | 10.28% | ― | |
52 Neutral | HK$47.98B | 221.19 | 3.97% | 0.20% | 17.21% | -54.17% | |
40 Underperform | HK$7.14B | -4.15 | -81.95% | ― | ― | ― |
* Technology Sector Average
HK:3986
Giga Device Semiconductor Inc. Class H
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387.01%
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Giga Device Semiconductor Inc. Class H Corporate Events
GigaDevice Discloses 0.9-Point Stake Cut by Controlling Shareholder Group
May 26, 2026
GigaDevice Semiconductor Inc., a Hong Kong-listed Chinese semiconductor company, reported a change in the shareholding of its controlling shareholder and concert parties, who together are substantial shareholders holding at least 5% of the company...
GigaDevice Discloses Reduction in Major Shareholder’s Equity Stake
May 7, 2026
GigaDevice Semiconductor Inc. has announced an indicative change in the equity interests of a major shareholder holding 5% or more of its shares, with the stake decreasing from 8.39% to 7.90%. The change involves controlling shareholder Zhu Yiming...
GigaDevice Files Unaudited First-Quarter 2026 Report and Affirms Governance Commitments
Apr 29, 2026
GigaDevice Semiconductor Inc. has released its unaudited first-quarter report for the three months ended March 31, 2026, prepared under China Accounting Standards for Business Enterprises. The filing, issued in both Chinese and English, fulfills H...
GigaDevice to Host Online Briefing on First-Quarter 2026 Results
Apr 29, 2026
GigaDevice Semiconductor Inc., a Hong Kong-listed Chinese semiconductor manufacturer, has released its first-quarter 2026 report and is moving to deepen investor engagement around its operating and financial performance. Senior management, includi...
GigaDevice Shareholders Back 2025 Annual Report at Beijing AGM
Apr 24, 2026
GigaDevice Semiconductor Inc. reported that its 2025 annual general meeting was duly convened in Beijing on April 24, 2026, with all nine directors attending either in person or electronically. The meeting followed PRC legal requirements and the c...
GigaDevice Updates Final 2025 Dividend Terms and Tax Arrangements
Apr 24, 2026
GigaDevice Semiconductor Inc. has updated details of its final dividend for the financial year ended 31 December 2025, declaring a payout of RMB 0.75 per share, with Hong Kong investors to receive the equivalent of HKD 0.8555198 per share based on...
GigaDevice Sets April 29 Board Meeting to Approve Q1 2026 Results
Apr 15, 2026
GigaDevice Semiconductor Inc. has scheduled a board meeting for April 29, 2026, to review and approve the first quarterly results for the three months ended March 31, 2026. The company also plans to authorize publication of these results, signalin...
GigaDevice Chairman Plans Limited Sale of A Shares in 2026
Apr 7, 2026
GigaDevice Semiconductor Inc. has disclosed that its chairman and executive director, Zhu Yiming, plans to reduce his holdings of the company’s A shares by up to 11.21 million shares, or about 1.60% of total share capital, between April 30 a...
GigaDevice Sets 2025 AGM to Approve Results, Capital Changes and Share Mandates
Apr 2, 2026
GigaDevice Semiconductor Inc. has called its 2025 annual general meeting for April 24, 2026 in Beijing, where shareholders will review the 2025 annual report, profit distribution plan and board work report, and vote on reappointing auditors and ap...
GigaDevice Sets RMB 0.75 Final Dividend and Details H-Share Tax Treatment
Apr 2, 2026
GigaDevice Semiconductor Inc. has proposed a final cash dividend of RMB 0.75 per share for the financial year ended 31 December 2025, with shareholder approval scheduled for 24 April 2026. The H-share dividend will be paid in Hong Kong dollars on ...
GigaDevice Semiconductor Publishes Audited 2025 Annual Results in Hong Kong
Mar 31, 2026
GigaDevice Semiconductor Inc., a Hong Kong-listed Chinese chipmaker, has released its audited consolidated results for the year ended 31 December 2025, covering its semiconductor operations conducted through the group. The company, headquartered i...
GigaDevice Announces 2025 Final Dividend and Sets Withholding Tax Rules for H-Share Investors
Mar 31, 2026
GigaDevice Semiconductor Inc. has proposed a final ordinary cash dividend of RMB 0.75 per share for the financial year ended 31 December 2025, with payment scheduled for 24 June 2026, subject to shareholder approval. Key timetable details for Hong...
GigaDevice Sets April Online Briefing to Discuss 2025 Results With Investors
Mar 30, 2026
GigaDevice Semiconductor Inc., a Hong Kong-listed Chinese chipmaker specializing in memory and microcontroller products, serves a broad base of electronics and technology customers in China and overseas. Its leadership team, including senior manag...
GigaDevice Lifts Registered Capital After Hong Kong H-Share Listing
Mar 30, 2026
GigaDevice Semiconductor has increased its total share capital to 701,102,451 shares following the issuance of 571,379 new A shares under its 2021 stock option and restricted share incentive plan and the Hong Kong listing of 33,253,100 H shares, i...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.