Inari Amertron RF Segment Demand May Stay Weak
Demand in Inari Amertron's Radio Frequency Segment May Stay Weak
Sales in Inari Amertron's radio frequency (RF) segment, which is involved with testing of radio-related chips, could remain weak until the next smartphone cycle begins in FY 2027, Maybank IB analyst Lucas Sim says in a note. Its fiscal 3Q revenue declined mainly on weaker RF segment demand.
Analyst Outlook and Expectations
Sim expects a potential recovery in RF orders in FY 2027, supported by new circuit design wins from a key customer, but remains cautious over the company's elevated reliance on legacy growth segments and high customer concentration.
Target Price and Stock Performance
Maybank maintains a hold rating on Inari and maintains its target price of 2.00 ringgit. Shares are 4.0% lower at 1.90 ringgit.
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