3Q26 earnings jumped 22% YoY to S$67.8mn. We believe AI-related products, namely networking cards, semiconductors, transceivers and test equipment, drove around 38% YoY revenue growth.
Venture’s guidance mentioned robust demand. Growth is in multiple domains, with life science beginning to recover. We expect FY27e growth to be even stronger, driven by new consumer lifestyle products.
Phillips securities has a BUY recommendation target price of S$19.50.We reduce our PE multiple from 25x to 22x FY26e PE, in line with US peers. We believe earnings growth is returning to Venture. The ramp in new products that support data centre infrastructure, together with new capacity in Malaysia, is driving earnings growth.
Venture is well-positioned to deliver growth for FY2026, as robust demand from customers continues to underpin our operational performance.
Venture’s core growth pillars in multiple technology domains including Test &
Measurement Instrumentation, Networking & Communications and Semiconductor-Related Equipment technology domains remain resilient. We are also seeing encouraging
signs of recovery within our Life Science technology domain.
Supported by our R&D engineering capabilities in high-mix, high-value manufacturing and
our robust balance sheet, the Group is nimble and well-prepared to navigate changes in the macro business environment.
Looking ahead, Venture remains focused on deepening strategic collaborations with
global partners, growing new customers and investing in new differentiatingcapabilitiesfor future growth.
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