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Globetronics
Technology (Stock Idea): High
dividend yield with potential growth (TRADING BUY) [download
report]
Globetronics is a semiconductor/electronics assembly and packaging
company based in Penang . Although it has been
in net cash over the past ten years and consistently paid out dividends, it is
in a capital-intensive business and revenue has not grown. Nevertheless, we are
recommending a Trading Buy because net dividend yield is 7.7% and if management
delivers on its targeted 30% growth in FY12 net profit, this would drive share
price performance.
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