TIMES ELECTRIC (03898) experienced a significant price surge of 5.08% during intraday trading on Wednesday. This movement represents a notable rebound for the power semiconductor company.
The stock's rise is viewed as a technical rebound from oversold conditions following a multi-day correction. Previously, the stock had surged over 15% earlier in May driven by expectations of a power semiconductor supply-demand imbalance, but then corrected after the company stated it had no plans to raise power device prices and reported a 3.95% year-over-year decline in Q1 semiconductor segment revenue.
Positive fundamental developments include the company's Yixing facility reaching full production of 30,000 wafers per month last year with rapid revenue growth, and the Zhuzhou Phase III SiC production line entering capacity ramp-up. Additionally, the market has absorbed the board renewal announcement from late May that nominated new executive director candidates.
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