|Bid||N/A x N/A|
|Ask||N/A x N/A|
|Day's Range||14.99 - 14.99|
|52 Week Range||8.34 - 15.18|
|Beta (5Y Monthly)||0.95|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.30 (2.02%)|
|Ex-Dividend Date||Sep 28, 2020|
|1y Target Est||N/A|
"The downgrade takes into account SEI's weak margins when compared to its peers, and our expectation that its margins will remain weak even assuming some recovery over the next 12-18 months," says Motoki Yanase, a Moody's Vice President and Senior Credit Officer. "The stable outlook reflects our expectation that SEI will maintain its conservative financial policy, with moderate leverage," adds Yanase. "Additionally, we expect profit will remain supported by SEI's leading position in supplying wire harnesses to global automotive manufacturers, and by the business diversification in supplying telecommunications and electric utilities companies."
Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Sumitomo Electric Industries, Ltd. Tokyo, August 29, 2020 -- Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Sumitomo Electric Industries, Ltd. and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers.
(Bloomberg) -- China is planning a sweeping set of new government policies to develop its domestic semiconductor industry and counter Trump administration restrictions, conferring the same kind of priority on the effort it accorded to building its atomic capability, according to people with knowledge of the matter.Beijing is preparing broad support for so-called third-generation semiconductors for the five years through 2025, said the people, asking not to be identified discussing government deliberations. A suite of measures to bolster research, education and financing for the industry has been added to a draft of the country’s 14th five-year plan, which will be presented to the country’s top leaders in October, the people said.China’s top leaders will gather next month to lay out their economic strategy for the next half decade, including efforts to ramp up domestic consumption and make critical technology at home. President Xi Jinping has pledged an estimated $1.4 trillion through 2025 for technologies ranging from wireless networks to artificial intelligence. Semiconductors are fundamental to virtually every component of China’s technology ambitions -- and an increasingly aggressive Trump administration threatens to cut off their supply from abroad.“The Chinese leadership realizes that semiconductors underpin all advanced technologies, and that it can no longer dependably rely on American supplies,” said Dan Wang, technology analyst at research firm Gavekal Dragonomics. “In the face of stricter U.S. restrictions on chip access, China’s response can only be to keep pushing its own industry to develop.”Shares in several major Chinese chipmakers gained. Shanghai Fudan Microelectronics Group Co. finished 4.3% higher in Hong Kong. On mainland bourses, Will Semiconductor Ltd. -- the second most valuable listed Chinese chip firm -- rose almost 10%. Xiamen Changelight Co. closed 14% up while Focus Lightings Tech Co. jumped 5.6%.The Ministry of Industry and Information Technology, which is responsible for drafting the tech-related goals, did not reply to a request for comment.China Still Buying $300 Billion of Chips From U.S., ElsewhereChina imports more than $300 billion worth of integrated circuits each year and its semiconductor developers rely on U.S.-made chip design tools and patents, as well as critical manufacturing technologies from U.S. allies. But deteriorating ties between Beijing and Washington have made it increasingly difficult for Chinese companies to source components and chipmaking technologies from overseas.The U.S. government has blacklisted dozens of China’s tech companies so they can’t buy American parts, and slapped bans on ByteDance Ltd.’s TikTok and Tencent Holdings Ltd.’s WeChat. In the case of technology giant Huawei Technologies Co., the Trump administration sanctioned the company and pressed allies to ban the company’s equipment from their telecom networks.This month, Huawei, the country’s largest handset maker, will even lose access to chips from the likes of Taiwan Semiconductor Manufacturing Co. under new American regulations that prohibit suppliers anywhere in the world from working with the company if those suppliers use American equipment. The tighter rules have raised the urgency of building domestic alternatives in Beijing.Third-generation semiconductors are mainly chipsets made of materials such as silicon carbide and gallium nitride. They can operate at high frequency and in higher power and temperature environments, and are widely used in fifth-generation radio frequency chips, military-grade radars and electric vehicles.Read more: China’s Chip Executives Worry They’re Next on U.S. Hit ListSince no single country now dominates the fledgling, third-generation technology, China’s gamble is its corporations can compete if they accelerate research into the field now. Global leaders such as U.S.-based CREE Inc. and Japan’s Sumitomo Electric Industries Ltd. are just beginning to grow this business, while Chinese tech giants such as Sanan Optoelectronics Co. Ltd. and state-owned China Electronics Technology Group Corp. have made inroads on third-generation chipsets.The country’s other chipmakers, which include Semiconductor Manufacturing International Corp., Will Semiconductor Ltd. and National Silicon Industry Group Co., may benefit more broadly from the state support.“This is a sector about to see explosive growth,” Alan Zhou, managing partner of Fujian-based chip investment fund An Xin Capital Co., told an industry forum last week. Because of China’s increasing demand and investment, this is an area that could create a “world-class Chinese chip giant.”(Updates with closing share action in the fifth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.