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2360

致茂 Other Electronics As of 2026-06-17 Updated daily after market close

strong quality, premium valuation.

2 active signals
Revenue ≥20% Foreign buy
This page refreshes daily after the close. Add 致茂 to your watchlist to track signal changes on your next visit.
Valuation 17Quality 97Growth 94Momentum 92Chips 82

Is 致茂 a buy? Fundamentals and valuation first

  • Top-tier profitability.Operating margin beats ~97% of the market. Latest quarterly ROE ≈ 12.9%.

  • Valuation is high.PE is in the 83th market percentile; within its own history, PE is around the 99th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 6.5% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 133.1%, above the 20% growth threshold.

  • Signals are active now.On the latest data, signals such as Revenue YoY ≥ 20%, Foreign net buying 5 straight days are active — see the historical forward returns after each occurrence below.

Chip flow

Bearish -0.45
BearishNeutralBullish

Distribution to retail — bearish

  • Distribution to retail — bearish
  • 新加坡商瑞銀 holds 5,390 lots
  • sellers have 6,006 lots left, ~166 sessions to clear

Window from 2026-01-17 · Price +135% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 新加坡商瑞銀 has accumulated 5,390 lots since the start (sold 0%), still adding.
  • Main distributor 港商麥格理 peaked at 3,421 lots, has sold 31%, 2,361 left, ~23 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -6.57pp, mid holders +16, retail +3.59pp — drifting down to retail.
  • Foreign hedge-desk net short Net short -7,394 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Branch inventory reconstruction
Accumulating holders Branches that accumulated shares during the window and still hold positive inventory; they are the absorbing side.
Distributing sellers Branches that built inventory earlier and have been selling it down; the remaining number estimates what has not cleared.
Net-short desks Trading-desk branches with negative inventory or net selling, often hedge, offsetting, or short-term flow. It is not automatically a bearish view.
Accumulating
新加坡商瑞銀台灣摩根士丹利國票-敦北法人永豐金證券群益金鼎凱基-台北
Distributing
港商麥格理凱基統一花旗環球兆豐證券華南永昌
Desks
own scale
永豐金-匯立美商高盛美林法銀巴黎
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 新加坡商瑞銀 +5,390
    sold 0%· still adding
  • 台灣摩根士丹利 +1,638
    sold 0%· still adding
  • 國票-敦北法人 +1,177
    sold 18%
  • 永豐金證券 +1,156
    sold 10%
  • 群益金鼎 +1,135
    sold 21%
  • 凱基-台北 +1,085
    sold 0%· still adding

Distributing

  • 港商麥格理 2,361 left
    sold 31%· ~23 sessions to clear
  • 凱基 1,502 left
    sold 37%· ~26 sessions to clear
  • 統一 572 left
    sold 48%· ~32 sessions to clear
  • 花旗環球 721 left
    sold 33%· paused recently
  • 兆豐證券 587 left
    sold 28%· ~56 sessions to clear
  • 華南永昌 109 left
    sold 86%· ~3 sessions to clear

Desks

  • 永豐金-匯立 -6,900
    unclassified
  • 美商高盛 -3,952
    hedge desk · will cover
  • 美林 -3,018
    hedge desk · will cover
  • 法銀巴黎 -2,296
    hedge desk · will cover
Still selling 6,006 lots ~166 sessions to bottom at most
Recent buy/sell force +5,968 absorbed / -2,753 sold buyers slightly ahead
Hedge-desk net short -7,391 lots potential cover-buying, not selling pressure
TDCC big holders · absolute-holding cross-check
>1000-lot holder share Retail (<400 lots) share Price (right axis)

Weak direction: big-holder share fell while retail share rose.

Describes chip flow, not investment advice. Branch data discloses only high-volume branches with ~1-day lag; TDCC is weekly. Inventory is a relative reconstruction from the window start, not absolute holdings.

Historical evidence

Signals active now

These signals are true on the latest data, with this stock's own historical forward-return stats after each occurrence.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 133.09%

Monthly revenue YoY ≥ 20%; event date is the first trading day after the filing deadline (no look-ahead).

97 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 64.2%, Sample 81, Median +3.48%, Excess +3.16%, Beat mkt rate 63%；60-day: Win 63.3%, Sample 79, Median +7.67%, Excess +9%, Beat mkt rate 62%；120-day: Win 69.7%, Sample 76, Median +12.5%, Excess +17.16%, Beat mkt rate 65.8%

120 days after: historical avg +23.07%

20-day +4.44%
60-day +12.47%
120-day +23.07%
20-day
60-day
120-day
Win
64.2%
63.3%
69.7%
Sample
81
79
76
Median
+3.48%
+7.67%
+12.5%
Excess
+3.16%
+9%
+17.16%
Beat mkt rate
63%
62%
65.8%

Over 76 occurrences, 120-day forward avg gained 23.07%, beat the market by 17.16 pts; win rate 69.7%.

Foreign net buying for 5 straight days

Active · now 7%

Foreign net flow (ex-dealer) positive for 5 straight days; event on day 5; repeats within 20 days counted once.

71 historical occurrences (since 2012-05-29)
Average forward return after Foreign net buying for 5 straight days。20-day: Win 55.7%, Sample 70, Median +0.73%, Excess -0.07%, Beat mkt rate 45.7%；60-day: Win 52.9%, Sample 70, Median +0.95%, Excess +0.92%, Beat mkt rate 40%；120-day: Win 71%, Sample 69, Median +9.8%, Excess +5.06%, Beat mkt rate 47.8%

120 days after: historical avg +13.79%

20-day +1.82%
60-day +5.77%
120-day +13.79%
20-day
60-day
120-day
Win
55.7%
52.9%
71%
Sample
70
70
69
Median
+0.73%
+0.95%
+9.8%
Excess
-0.07%
+0.92%
+5.06%
Beat mkt rate
45.7%
40%
47.8%

Over 69 occurrences, 120-day forward avg gained 13.79%, beat the market by 5.06 pts; win rate 71%.

Valuation regime and subsequent returns

Each day's PE is converted to its own-history percentile (as of that day), then we look at adjusted-close returns over the next 240 trading days by valuation regime.

PE percentile bandSample days240-day avg returnMedianWin rateAvg excess (vs index)
0-20 322+30.6% +25.5% 98.1% +11%
20-40 454+30.5% +21.8% 79.5% +23%
40-60 525+90.1% +34.9% 86.5% +66.3%
60-80 755+42.4% +25.8% 75.9% +28.5%
80-100 You are here987+19.4% +10.7% 66.9% +1.7%

Percentiles use an expanding own-history window (no look-ahead); forward return is 240 trading days on adjusted close. Sample days overlap; distribution is indicative only.

Current PE ≈ 70.32, at the 99.1th percentile of its own history (80-100 band).

Valuation × momentum historical grid

Every day in its own history is bucketed by valuation tercile (own-history PE) and 60-day momentum sign into six cells; we show adjusted-close returns over the next 120 trading days per cell.

Valuation
Momentum
Cheap (own-history bottom 1/3)
Mid
Expensive (own-history top 1/3)
60-day momentum up
+11.5%
Win rate 66% Excess +5.7%
250d
+12.9%
Win rate 71.2% Excess +5.3%
459d
Now
+24%
Win rate 65.6% Excess +14.1%
1244d
60-day momentum down
+19%
Win rate 85.6% Excess +14.3%
404d
+25.9%
Win rate 73.8% Excess +16.6%
393d
+12.1%
Win rate 64.2% Excess +2.6%
413d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 1244 historical days, 120-day forward avg gained 24%, win rate 65.6%, beat the market by 14.1%.

Days = trading days in this bucket; returns use adjusted prices, ex-costs. 60-day momentum: direction of this stock's price over the past 60 trading days.

Does this signal hold up across the market

Over the past 242 months, on average ~404 stocks per month met “monthly revenue YoY ≥ 20%”; their adjusted-close return over the next 60 trading days averaged 6.94% (equal-weighted), beating the market by 2.37 points on average, and outperformed the TAIEX total-return index in 64.5% of months.

Each month, equal-weighted 60-day forward adjusted return of all signal-matching stocks, then averaged across months; excess vs the TAIEX total-return index.

Signals not active (historical stats for reference)

These are not occurring now; historical samples shown for comparison.

252-day price high (breakout)

Pending

Adjusted close makes a new 252-day high; repeats within 20 days counted once.

37 times historically; 60-day forward avg +10.94%, win rate 59.5%, beating the market by +6.12 pts on average.

What does 致茂 do? Company profile

其他電子業 上市（台灣證券交易所）

Overview

致茂電子股份有限公司為台灣上市普通股，股票代號2360，英文名稱 CHROMA ATE INC.。公司成立於1984年11月8日，上市日期為1996年12月21日，總部位於桃園市龜山區文茂路88號，主要營業項目為精密電子量測儀器與自動化量測系統。董事長為黃欽明，總經理為曾一士，發言人為應正。公開資料顯示實收資本額約新台幣42.52億元，已發行普通股約4.25億股。2025年合併營收為新台幣283.10935億元，年增31%，稅後淨利歸屬母公司業主約新台幣116.92億元，EPS 27.70元；2026年第1季合併營收118.6億元，毛利率約63%，EPS 9.12元。員工規模方面，2025年度合計3,758人，2026年2月28日止合計3,904人。2026年3月31日主要股東包括陳春生3.55%、宏錩投資3.53%、花旗託管新加坡政府投資專戶3.49%、薛玉美2.60%、黃欽明2.55%、新制勞工退休基金2.31%、元大台灣卓越50基金專戶1.66%、挪威中央銀行投資專戶1.35%、先進總合國際股票指數基金投資專戶1.23%、梵加德新興市場股票指數基金投資專戶1.20%。

Business

致茂以自有品牌 Chroma 提供精密量測、自動測試設備、智慧製造與整合式自動化解決方案，商業模式以研發、製造與銷售高階量測儀器、ATE、自動化測試系統及客製化 Turnkey Solution 為主，並透過全球據點支援客戶驗證、產線導入與售後服務。2025年產品別營收結構為：量測儀器設備新台幣271.66591億元，占95.96%；自動化運輸工程設備8.83042億元，占3.12%；其他2.61302億元，占0.92%。銷售地區為內銷50.45171億元，占18%，外銷232.65764億元，占82%。主要產品與服務包含電力電子測試、伺服器電源與BBU測試、半導體/IC測試、SLT系統級測試、IC Test Handler、PXI測試平台、形貌量測 Metrology、光子學與CPO測試、電動車與電池測試、儲能與電力轉換測試、被動元件測試、電氣安規、平面顯示器與視訊色彩測試、AOI、智慧製造系統與MES。主要終端應用涵蓋AI資料中心、HPC、AI GPU/ASIC、半導體先進封裝、矽光子/CPO、伺服器電源、BBU、儲能、電動車、充電樁、太陽能、LED、顯示器、通訊與工業自動化。2025年曾有單一A客戶占銷貨18.02%，公司未揭露名稱，變動原因主要為SLT測試設備需求增加。

Outlook 2025–2028

2025年致茂受惠AI基礎建設、資料中心電力電子測試、AI IC系統級測試與半導體先進封裝需求，全年營收與獲利創高；公司揭露電力電子測試設備營收成長55%，半導體測試營收成長40%。2026年主要成長動能包括AI伺服器電源與HVDC架構導入、BBU與高功率電源測試、AI/HPC/ASIC帶動SLT需求、先進製程與先進封裝帶動Metrology需求、矽光子與CPO測試從PIC、E-PIC、光引擎到BER訊號測試逐步試產與量產。2026年第1季量測及自動化檢測設備營收53.9億元，季增105%、年增145%；半導體/Photonics測試解決方案營收34.1億元，季增19%、年增31%。公司表示全球前三大AI HPC客戶 NVIDIA、AMD、Google 均已導入SLT設備，AMD與Google預計自2026年起貢獻更顯著；SLT測試時間拉長與高功率晶片測試條件升級，將推升設備需求。產能方面，公司A7二廠已於2026年1月取得使用執照，預計2026年第2季搬遷，並保留第二期廠房自用，以支應未來3至5年需求。2027至2028年的中長期展望取決於AI資本支出延續、CPO/矽光子實際量產節奏、先進封裝擴產、HVDC伺服器電源標準化、儲能與電動車景氣回溫；風險包含地緣政治與保護主義、客戶資本支出遞延、AI供應鏈庫存調整、少量多樣製造造成交期與庫存壓力、關鍵零組件供應與匯率波動、國際大廠競爭、第三地區仿冒與削價競爭，以及客戶集中度較高。

Supply Chain

Upstream
  • 茂綸 6227 可編程邏輯閘陣列IC等半導體零組件代理供應商；年報列為主要原料供應商之一。
  • 威健 3033 可編程邏輯閘陣列IC、記憶體等零組件代理供應商；年報列為主要原料供應商之一。
  • 安馳 3528 可編程邏輯閘陣列IC、轉換器IC等零組件代理供應商；年報列為主要原料供應商之一。
  • 文曄 3036 轉換器IC等半導體零組件通路商；年報列為主要原料供應商之一。
  • 創見 2451 記憶體供應商；年報列為主要原料供應商之一。
  • 德州儀器 轉換器IC原廠，美國上市公司；年報列為供應來源之一。
  • 安富利 記憶體與電子零組件通路商，美國上市公司；年報列為主要原料供應商之一。
  • 興普、耀新、台盟、全智、佳承、高精準、升齊、宜技、拓緯 PC板、機構材料、繼電器等供應商；多數未確認為台股上市櫃公司，年報列為主要原料供應商之一。
Downstream
  • A客戶（未揭露名稱） 2025年占銷貨18.02%的單一主要客戶；公司未揭露名稱，年報說明成長主要因SLT測試設備需求增加。
  • NVIDIA 美國上市公司；媒體引述法說會指出其為全球前三大AI HPC客戶之一，已導入致茂SLT設備。
  • AMD 美國上市公司；媒體引述法說會指出其已導入致茂SLT設備，預期2026年開始帶來較顯著貢獻。
  • Google Alphabet旗下美國上市集團；媒體引述法說會指出其已導入致茂SLT設備，預期2026年開始放量。
  • 伺服器製造商、資料中心營運商及電源供應鏈夥伴 公司年報指出伺服器電源與BBU測試設備服務伺服器製造商、資料中心營運商及電源供應鏈；未逐名揭露客戶。
  • 電動車廠、儲能系統商、電池模組廠 公司年報指出電池測試及自動化解決方案可應用於電動車廠、儲能系統商與電池模組廠；未逐名揭露客戶。

Competitors

  • Keysight Technologies（是德科技） 美國上市公司，全球電子量測與測試儀器大廠，與致茂在電力電子、通訊、半導體測試量測領域競爭。
  • Advantest（愛德萬） 日本上市公司，半導體ATE測試設備大廠，與致茂半導體測試解決方案部分重疊。
  • Teradyne 美國上市公司，半導體ATE與自動化測試設備大廠，與致茂半導體測試相關產品線競爭。
  • Cohu 美國上市公司，半導體測試與Handler設備供應商，與致茂IC測試分類機、半導體後段測試設備部分競爭。
  • National Instruments／NI（Emerson旗下） 美國量測與自動化測試平台供應商，與致茂PXI、測試平台與自動化測試方案部分競爭。
  • ITECH（艾德克斯） 中國電源測試與電子負載設備廠商，與致茂電力電子測試設備部分競爭。
  • 均華 6640 台股上櫃半導體設備公司，產品包含自動化與半導體設備；與致茂在半導體設備/自動化供應鏈部分應用相鄰，非完全同產品線。
  • 萬潤 6187 台股上櫃設備廠，聚焦半導體與自動化設備；與致茂在先進封裝與自動化設備商機上部分相鄰，非完全同產品線。
  • 盟立 2464 台股上市自動化設備與系統整合廠；與致茂智慧製造、自動化整合解決方案部分相鄰。
Sources（11）

This company profile is compiled from public sources (annual reports, filings, news and analyst reports), not finlab backtest data; the 2025–2028 outlook contains forward-looking estimates and is for reference only.

Method and limitations

  • All returns use adjusted close (etl:adj_close), already adjusted for dividends and splits.
  • Excess return is measured against the TAIEX total-return index (dividends included).
  • Valuation regime and percentile stats use an expanding own-history window (no future data).
  • Revenue-signal event dates align to the first trading day after the filing deadline, avoiding look-ahead.
  • Event samples may overlap in time; stats describe historical distribution only and are less reliable when samples are few.

This page is historical statistics for educational purposes and is not investment advice. Investing involves risk; past performance does not indicate future results. Assess and bear the risk yourself before trading.