Source: Financial Associated Press
According to Taiwan Economic Daily, news of price increases for power management ICs and MCUs has been reported again.
According to the market, the Japanese company Renesas Electronics will adjust the prices of products such as power management ICs from January 1 next year, and the Taiwanese factory Zhixin is also considering negotiating to adjust the prices of some products, and its main products include power management ICs. In addition, due to the global shortage of MCU, the five major MCU manufacturers in Taiwan, including Holtek, Lingtong, Songhan, Hongkang, and Nuvoton, have recently or simultaneously raised their quotations, and some products have increased by more than 10%. The delivery time of the Japanese company Renesas has been extended to more than four months, and the same phenomenon is also observed in the relevant Taiwanese factories.
Recently, the prices of key semiconductor components have increased in rotation, and the price increase of power management ICs and MCUs is expected. The main reason is the “pot” of insufficient supply of upstream wafer foundry capacity.
According to industry executives, this wave of power management IC price increases mainly reflects the price increase of upstream wafer foundries, and has not yet seen a comprehensive price increase trend. For MCU, industry analysis shows that the international MCU leading manufacturer STMicroelectronics had a strike, which affected the market supply. Coupled with the full capacity of wafer foundries such as TSMC, UMC, World Advanced, and LSMC, the production capacity that MCU manufacturers can obtain Shrinking, the international MCU factory products have been postponed across the board, and even new orders are not accepted.
From the demand side, New Era Securities analyzed in the research report that the trend of consumer electronics and optical upgrades continues, the demand for new energy vehicles has exploded after the recovery of the epidemic, and the evolution of remote office trends has driven the sales of NB and PAD products. Demand in these fields resonates and brings power Orders for semiconductors, radio frequency, CIS and other products continued to grow despite the epidemic.
The mismatch between supply and demand in the semiconductor industry may promote the continued deepening of domestic substitution.
Guosheng Securities released a research report on November 29, saying that under the background of domestic substitution in the past two years, domestic industrial demand has grown significantly, and domestic semiconductors have made a comprehensive breakthrough. Due to the asynchronous occurrence of the new crown epidemic at home and abroad, there will be a mismatch of supply and demand between seasons and order transfer between regions in 2020. Recently, the supply and demand of the semiconductor industry has been tight again. On the one hand, it is the continuation of the “core” inflection point. Increase.
The agency suggested attaching great importance to the domestic semiconductor industry pattern will usher in unprecedented restructuring and changes.
Specific to individual stocks, the MCU companies in the first echelon in China are mainly Zhaoyi Innovation and Zhongying Electronics. New Era Securities said that under the trend of rising prices, upstream material manufacturers such as Anji Technology, Jingrui, China Resources Micro and other power device IDM manufacturers, downstream Changdian Technology, Tongfu Microelectronics and other packaging and testing manufacturers are expected to continue to benefit. Supported by excellent performance and predictable growth space, the market recognizes the logic of high valuation of such companies.