At a time when AI, 5G and autonomous vehicles are driving the world, a minimum of manufacturers have found themselves in a position where their ability to test chips is not just an add-on, but a key competitive advantage. One player reports nearly 60% gross margins, strong cash flow and revenues of over $2.8 billion - yet the market is only partially factoring in promising opportunities.

Top points of analysis

• Gross margins around 60% - A number that is exceptional in the cyclical semiconductor sector and indicates high technology value-add.
• Revenues of over USD 2.8 billion and net profit of nearly half a billion dollars over the past 12 months - despite the fluctuations of the semiconductor cycle.
• ROE around 16-17% confirms the ability to efficiently convert capital into profit.
• Valuation with a P/E of nearly 47 times reflects high market expectations for growth in AI, 5G and industrial robotics.
• Solid balance sheet and dividend policy - A low dividend yield of around 0.36% means the…