TIMES ELECTRIC's stock plummeted 5.07% during intraday trading on Friday, extending a period of technical correction for the company.
The sharp decline follows the company's confirmation that it has no plans to increase prices for its power semiconductor devices, diverging from the broader industry trend of rising prices amid supply-demand imbalance. Additionally, the company reported a 3.95% year-over-year decline in first-quarter semiconductor segment revenue, with IGBT product revenue slightly lower due to reduced delivery of grid-use high-voltage devices and pricing pressure on low-voltage products.
Further contributing to investor uncertainty is the recent board of directors election announcement, which introduces short-term management transition concerns. The stock has experienced volatile swings since mid-May, reflecting ongoing market debate over the company's near-term earnings prospects.
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