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New Buy Rating for Hua Hong Semiconductor Ltd. (1347), the Technology Giant

In a report released on May 15, from Bank of China maintained a Buy rating on Hua Hong Semiconductor Ltd., with a price target of HK$152.40. The company’s shares closed last Friday at HK$115.90.

Hua Hong Semiconductor Ltd. has an analyst consensus of Strong Buy, with a price target consensus of HK$121.13, representing a 4.51% upside. In a report released on May 15, Goldman Sachs also maintained a Buy rating on the stock with a HK$152.00 price target.

Based on Hua Hong Semiconductor Ltd.’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of HK$665.99 million and a net profit of HK$20.1 million. In comparison, last year the company earned a revenue of HK$540.94 million and had a net profit of HK$3.75 million

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