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Alchip Technologies Ltd. (3661) AI Stock Analysis

TW:3661

Alchip Technologies Ltd.

(TWSE:3661)

Select Model
Rating:68.1Neutral
Price Target:TWD 3,086.00â–¼(-15.45% Downside)
Action:initiatedcoverage
Date:11/10/26

The strong financial foundation and minimal leverage are the primary positives, but they are substantially offset by weak technical momentum and relatively expensive valuation. The overall score is also constrained by declining revenue, net income, and free cash flow.

Positive Factors
Very low leverageAlchip’s exceptionally low leverage reduces financial risk and preserves flexibility to invest through semiconductor cycles. A lightly indebted balance sheet also limits interest burdens, supports resilience if demand weakens, and gives management more capacity to fund growth or return capital.
Negative Factors
Cyclical revenue and earningsThe sharp 2025 revenue decline after strong growth in 2023–2024 shows that Alchip’s results remain exposed to semiconductor demand cycles. Uneven sales can make capacity planning, earnings forecasting, and sustained investment more difficult even when underlying margins remain healthy.

Alchip Technologies Ltd. (3661) vs. SPDR S&P 500 ETF (SPY)

-40%-20%0%20%40%60%TW:3661+1.90%SPY+14.30%Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
Market Cap
TWD 326.66B
Dividend Yield
0.89%
Average Volume (3M)
2.43M
Price to Earnings (P/E)
51.2
Beta (1Y)
1.91
Revenue Growth
8.49%
EPS Growth
27.68%
Country
TW
Employees
578
Sector
General
Sector Strength
55
Industry
Semiconductors

Alchip Technologies Ltd. Business Overview & Revenue Model

Company Description

Alchip Technologies, Limited, together with its affiliated companies, specializes in the innovation, development, and design of custom-built, fabless Application Specific Integrated Circuits (ASICs) and complete Systems on a Chip (SoCs), in addition...

Alchip Technologies Ltd. Financial Statement Overview

Summary

Strong overall financial condition, led by an exceptionally strong balance sheet with 0.8% debt-to-equity and healthy profitability. The score is limited by the 21.2% revenue decline, lower net income, and 27.7% free-cash-flow decline in 2025.

Income Statement

72Positive

Balance Sheet

92Very Positive

Cash Flow

78Positive
Financial statement breakdown
BreakdownTTMDec 2025Dec 2024Dec 2023Dec 2022Dec 2021
Income Statement
Total Revenue23.12B30.93B51.97B30.48B13.73B10.43B
Gross Profit8.60B8.15B10.20B6.79B4.43B3.56B
EBITDA7.60B8.08B10.49B6.24B4.44B3.44B
Net Income5.88B5.60B6.45B3.33B1.83B1.49B
Balance Sheet
Total Assets89.63B58.04B50.31B32.46B19.74B13.26B
Cash, Cash Equivalents and Short-Term Investments53.09B38.88B29.43B14.14B6.81B8.30B
Total Debt289.79M325.24M207.33M226.32M121.60M86.25M
Total Liabilities29.29B17.21B10.83B14.42B6.74B2.91B
Stockholders Equity60.33B40.81B39.46B18.01B12.99B10.35B
Cash Flow
Free Cash Flow-1.07B14.45B744.83M6.05B-1.61B-1.36B
Operating Cash Flow690.48M16.74B3.36B9.31B-245.84M345.39M
Investing Cash Flow-10.75B-7.30B-676.46M-5.12B1.48B-5.71B
Financing Cash Flow15.73B-2.65B12.86B1.28B-765.73M4.77B

Alchip Technologies Ltd. Peers Comparison

Overall Rating

UnderperformOutperform
Sector (55)

Financial Indicators

TW:3661 against its peers
NameOverall RatingMarket CapP/E RatioROEDividend YieldRevenue GrowthEPS Growth
TW:5269TW:526981OutperformTWD 83.43B12.10―3.80%5.30%51.53%
TW:3529TW:352976OutperformTWD 161.96B72.84―0.91%16.73%27.60%
TW:6531TW:653175OutperformTWD 118.72B37.19―0.95%91.95%230.68%
TW:3661TW:366168NeutralTWD 293.99B51.20―0.89%8.49%27.68%
TW:3034TW:303468NeutralTWD 292.00B14.61―4.78%2.41%13.76%
TW:6526TW:652663NeutralTWD 114.91B38.14―1.86%9.57%7.98%
Sector *55Neutral$6.65B3.83-15.92%6.20%10.91%7.18%

* General Sector Average

Performance Comparison

0%50%100%150%TW:3661TW:3034TW:3529TW:5269TW:6526TW:6531Dec '25Jan '26Feb '26Mar '26Apr '26May '26Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
TW:3661 and its peers over the selected period
Show on chartTickerCompany NamePriceChange% Change
TW:3661Alchip Technologies Ltd.3650.00167.224.80%
TW:3034Novatek Microelectronics Corp.481.00107.5528.80%
TW:3529eMemory Technology, Inc.2265.00322.6416.61%
TW:5269Asmedia Technology Inc.1195.00-35.80-2.91%
TW:6526Airoha Technology Corp.726.00278.9762.41%
TW:6531AP Memory Technology Corp.733.00325.3079.79%
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.

Date of analysis: Nov 09, 2026