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Giga Device Semiconductor Inc. Class H
(3986)
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Rating:75Outperform
Price Target:
HK$385.00
â–¼(-20.81% Downside)
Action:Upgraded
Date:10/30/26
The score is driven primarily by very strong financial performance (rapid TTM growth, very high margins, and near-zero leverage). Offsetting this, technical signals are notably weak with the stock trading below key moving averages and negative momentum. Valuation is acceptable but not cheap on P/E, partially balanced by the dividend yield.
Positive Factors
Revenue growth and margin expansion
The combination of strong revenue growth and materially higher gross and net margins indicates improved product mix, pricing, and operating leverage. If these gains persist across customer applications, they can strengthen internal funding capacity and support continued investment in memory and MCU products.
Negative Factors
Semiconductor-cycle earnings volatility
The history of downturns and sharp margin changes indicates that current profitability may not represent a stable through-cycle level. A weaker memory or electronics demand environment could pressure utilization, pricing, and mix, making revenue and earnings less predictable over the next several quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue growth and margin expansion
The combination of strong revenue growth and materially higher gross and net margins indicates improved product mix, pricing, and operating leverage. If these gains persist across customer applications, they can strengthen internal funding capacity and support continued investment in memory and MCU products.
Read all positive factors
Giga Device Semiconductor Inc. Class H (3986) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$214.10B
Dividend Yield0.27%
Average Volume (3M)1.42M
Price to Earnings (P/E)16.0
Beta (1Y)-1.97
Revenue Growth181.29%
EPS Growth771.19%
CountryHK
Employees2,333
SectorGeneral
Sector StrengthN/A
IndustrySemiconductors
Share Statistics
EPS (TTM)16.68
Shares Outstanding33,253,100
10 Day Avg. Volume1,584,563
30 Day Avg. Volume1,422,749
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 Upside157.92% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)24.75
Revenue Forecast (FY)HK$33.09B
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 primarily makes money by selling semiconductor chips it designs (as a fabless company) and has them manufactured by third-party foundries, then assembled/tested by outsourced semiconductor assembly and test (OSAT) providers, and finally...
Giga Device Semiconductor Inc. Class H Financial Statement Overview
Summary
Income Statement
90
Very Positive
Balance Sheet
96
Very Positive
Cash Flow
86
Very Positive
| Breakdown | TTM | Dec 2025 | Mar 2025 | Dec 2023 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 22.56B | 8.94B | 7.47B | 5.75B | 8.24B | 8.34B |
| Gross Profit | 14.31B | 3.28B | 2.49B | 1.61B | 3.62B | 3.66B |
| EBITDA | 10.96B | 2.18B | 1.64B | 588.52M | 2.69B | 2.78B |
| Net Income | 11.59B | 1.61B | 1.12B | 161.25M | 2.10B | 2.30B |
Balance Sheet | ||||||
| Total Assets | 87.61B | 21.40B | 19.23B | 16.46B | 16.65B | 15.42B |
| Cash, Cash Equivalents and Short-Term Investments | 19.66B | 9.29B | 9.25B | 9.07B | 8.73B | 9.02B |
| Total Debt | 89.35M | 242.71M | 946.24M | 74.39M | 89.90M | 107.88M |
| Total Liabilities | 10.53B | 2.17B | 2.55B | 1.26B | 1.46B | 1.94B |
| Stockholders Equity | 76.79B | 19.01B | 16.50B | 15.20B | 15.19B | 13.48B |
Cash Flow | ||||||
| Free Cash Flow | 8.86B | 1.08B | 1.53B | 838.39M | 398.85M | 1.64B |
| Operating Cash Flow | 10.61B | 2.13B | 2.03B | 1.19B | 949.69M | 2.26B |
| Investing Cash Flow | -7.77B | -1.39B | -669.34M | -294.90M | -43.73M | -3.28B |
| Financing Cash Flow | 3.09B | -516.86M | 480.38M | -572.60M | -780.31M | 232.98M |
Giga Device Semiconductor Inc. Class H Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | HK$214.10B | 16.02 | 29.28% | 0.27% | 181.29% | 771.19% | |
68 Neutral | HK$211.26B | 55.40 | 19.49% | 0.32% | 40.03% | ― | |
65 Neutral | HK$120.55B | 32.33 | 9.88% | 0.16% | 7.37% | ― | |
58 Neutral | HK$35.24B | 39.11 | 14.45% | 0.31% | 21.04% | 115.77% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
41 Neutral | HK$4.73B | -2.56 | -109.17% | ― | ― | ― |
* General Sector Average
HK:3986
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Giga Device Semiconductor Inc. Class H Corporate Events
GigaDevice Publishes Unaudited Third-Quarter 2026 Results and Affirms Governance Oversight
Oct 29, 2026
GigaDevice Semiconductor Inc. has released its unaudited third quarterly report for the nine months ended 30 September 2026, prepared under China Accounting Standards for Business Enterprises. The board and senior management state that the financi...
GigaDevice to Host Online Briefing on Third-Quarter 2026 Results
Oct 29, 2026
GigaDevice Semiconductor Inc. has scheduled an online investor briefing to discuss its financial and operating results for the third quarter of 2026, following the publication of its latest quarterly report on the Hong Kong exchange’s websit...
GigaDevice details voting results and shareholder participation at 2026 extraordinary meeting
Oct 20, 2026
GigaDevice Semiconductor Inc. held its fourth extraordinary general meeting of 2026 in Beijing, convened by the board and overseen by legal and share registrar representatives to ensure compliance with PRC laws and its Articles of Association. Vot...
GigaDevice Sets October Board Meeting to Approve Q3 Results
Oct 15, 2026
GigaDevice Semiconductor Inc. has scheduled a board meeting for October 29, 2026, to review and approve the company’s third-quarter results for the nine months ended September 30, 2026. The approval will clear the way for the publication of ...
GigaDevice Lifts Registered Capital After Equity Incentive Share Issuance
Sep 28, 2026
GigaDevice Semiconductor Inc. has adjusted its share capital following several stock incentive plan exercises and a minor share repurchase and cancellation. After issuing new A shares under its 2023 and 2024 stock option incentive plans and cancel...
GigaDevice Calls October EGM to Vote on Related-Party Deal Limits and Capital Change
Sep 28, 2026
GigaDevice Semiconductor Inc. has called its fourth extraordinary general meeting for 2026, to be held in Beijing on October 20, 2026, with Hong Kong H shareholders eligible to attend subject to share registration deadlines. Shareholders may appoi...
GigaDevice Grants 1.49 Million H Share Awards Under 2026 Incentive Scheme
Sep 28, 2026
GigaDevice Semiconductor Inc. has implemented its 2026 H Share Award Scheme, targeting employees and service providers as part of a long-term incentive plan to support its position in the competitive semiconductor sector and align key contributors...
GigaDevice Shareholders Approve 2026 H Share Award Scheme at Extraordinary Meeting
Sep 9, 2026
GigaDevice Semiconductor Inc. has reported the poll results of its 2026 third extraordinary general meeting held in Beijing, confirming full board attendance and compliance with PRC laws and the company’s Articles of Association. Shareholder...
GigaDevice Shareholders Back A-Share Buyback Plan at 2026 Extraordinary Meeting
Aug 20, 2026
GigaDevice Semiconductor Inc. held its 2026 second extraordinary general meeting in Beijing, with both onsite and online poll voting for A shareholders and H shareholders, and procedures confirmed to comply with PRC laws and the company’s Ar...
GigaDevice Publishes Unaudited Interim Results for First Half of 2026
Aug 18, 2026
GigaDevice Semiconductor Inc. has released its unaudited interim results for the six months ended June 30, 2026, following a review by the Board’s audit committee. The announcement confirms that the full interim report, containing detailed f...
GigaDevice to Host Online Briefing on 2026 Interim Results
Aug 18, 2026
GigaDevice Semiconductor Inc. will host an interim results briefing for its 2026 half-year performance on September 1, 2026, via livestream and online interaction through the Shanghai Stock Exchange’s SSE Roadshow Centre. The session aims to...
GigaDevice Calls September EGM to Approve 2026 H Share Award Scheme
Aug 18, 2026
GigaDevice Semiconductor Inc. has called its third extraordinary general meeting of 2026 for September 9 in Beijing, inviting H shareholders of record as of September 3 to attend or vote by proxy. The meeting will consider adoption of a 2026 H Sha...
GigaDevice Overhauls Company Secretarial and Governance Roles
Aug 18, 2026
GigaDevice Semiconductor Inc. has announced a reshuffle of its corporate governance team, with board secretary and joint company secretary Dong Lingyan resigning for career reasons and being replaced by capital operations director Xie Feiwang from...
GigaDevice Sets August Board Meeting to Review Interim Results and Dividend Plan
Aug 4, 2026
GigaDevice Semiconductor Inc., a Hong Kong-listed PRC semiconductor company, designs and supplies integrated circuits and related products to global electronics and technology markets. The firm operates with a diversified board structure that comb...
GigaDevice Calls August EGM to Approve A-Share Buyback Plan
Aug 2, 2026
GigaDevice Semiconductor Inc. has called its second extraordinary general meeting of 2026 for August 20 in Beijing, where shareholders will vote on a special resolution to authorize a repurchase of the company’s A shares through centralized ...
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.