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2379

瑞昱 Semiconductor As of 2026-06-17 Updated daily after market close

steady quality, fair valuation.

2 active signals
252d high Revenue ≥20%
This page refreshes daily after the close. Add 瑞昱 to your watchlist to track signal changes on your next visit.
Valuation 37Quality 81Growth 66Momentum 80Chips 2

Is 瑞昱 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 67th market percentile. Latest quarterly ROE ≈ 8.9%.

  • Valuation is neutral.PE is in the 57th market percentile; within its own history, PE is around the 94th percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -16.6% of volume (net sell).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 21.9%, above the 20% growth threshold.

  • Signals are active now.On the latest data, signals such as 252-day price high, Revenue YoY ≥ 20% are active — see the historical forward returns after each occurrence below.

Chip flow

Bullish +0.77
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 永豐金-匯立 holds 17,666 lots
  • sellers have 521 lots left, ~63 sessions to clear

Window from 2026-01-17 · Price +45% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 永豐金-匯立 has accumulated 17,666 lots since the start (sold 0%), still adding.
  • Main distributor 美商高盛 peaked at 3,650 lots, has sold 88%, 433 left, ~3 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +1.00pp, mid holders +13, retail -2.38pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -5,909 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
永豐金-匯立摩根大通新加坡商瑞銀群益金鼎兆豐證券港商野村
Distributing
美商高盛國票-敦北法人永豐金-竹科凱基-三重土銀凱基-台中
Desks
own scale
台灣摩根士丹利國泰證券元大證券美林
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 永豐金-匯立 +17,666
    sold 0%· still adding
  • 摩根大通 +6,650
    sold 12%· still adding
  • 新加坡商瑞銀 +6,206
    sold 17%
  • 群益金鼎 +3,797
    sold 0%· still adding
  • 兆豐證券 +3,536
    sold 0%· still adding
  • 港商野村 +2,657
    sold 7%

Distributing

  • 美商高盛 433 left
    sold 88%· ~3 sessions to clear
  • 國票-敦北法人 126 left
    sold 83%· paused recently
  • 永豐金-竹科 205 left
    sold 28%· paused recently
  • 凱基-三重 57 left
    sold 78%· paused recently
  • 土銀 88 left
    sold 65%· paused recently
  • 凱基-台中 64 left
    sold 64%· paused recently

Desks

  • 台灣摩根士丹利 -12,325
    hedge desk · will cover
  • 國泰證券 -8,386
    unclassified
  • 元大證券 -3,263
    unclassified
  • 美林 -2,885
    hedge desk · will cover
Still selling 521 lots ~63 sessions to bottom at most
Recent buy/sell force +12,937 absorbed / -1,673 sold buyers slightly ahead
Hedge-desk net short -5,554 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)

Direction matches: big-holder share rose while retail share fell.

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.

252-day price high (breakout)

Active

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

39 historical occurrences (since 2009-07-24)
Average forward return after 252-day price high (breakout)。20-day: Win 38.5%, Sample 39, Median -2.47%, Excess +0.11%, Beat mkt rate 46.2%；60-day: Win 60.5%, Sample 38, Median +5.97%, Excess +2.65%, Beat mkt rate 55.3%；120-day: Win 70.3%, Sample 37, Median +9.96%, Excess +3.63%, Beat mkt rate 56.8%

120 days after: historical avg +10.98%

20-day +1.27%
60-day +5.76%
120-day +10.98%
20-day
60-day
120-day
Win
38.5%
60.5%
70.3%
Sample
39
38
37
Median
-2.47%
+5.97%
+9.96%
Excess
+0.11%
+2.65%
+3.63%
Beat mkt rate
46.2%
55.3%
56.8%

Over 37 occurrences, 120-day forward avg gained 10.98%, beat the market by 3.63 pts; win rate 70.3%.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 21.86%

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

99 historical occurrences (since 2007-04-23)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 53.5%, Sample 86, Median +0.76%, Excess +0.12%, Beat mkt rate 48.8%；60-day: Win 53.5%, Sample 86, Median +2.36%, Excess -0.34%, Beat mkt rate 45.3%；120-day: Win 54.7%, Sample 86, Median +4.4%, Excess -1.88%, Beat mkt rate 44.2%

120 days after: historical avg +2.84%

20-day +0.89%
60-day +2.59%
120-day +2.84%
20-day
60-day
120-day
Win
53.5%
53.5%
54.7%
Sample
86
86
86
Median
+0.76%
+2.36%
+4.4%
Excess
+0.12%
-0.34%
-1.88%
Beat mkt rate
48.8%
45.3%
44.2%

Over 86 occurrences, 120-day forward avg gained 2.84%, lagged the market by 1.88 pts; win rate 54.7%.

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)
0-20 581+38.1% +43.1% 76.2% +26.7%
20-40 228+42.5% +39.5% 87.3% +19.7%
40-60 408+31.3% +21.5% 73.5% +8.4%
60-80 784+23.5% +19.5% 79.5% +8%
80-100 You are here1016+22% +18.8% 79.2% +5.8%

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 ≈ 26.82, at the 94.1th 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
+19.1%
Win rate 95.4% Excess +11%
260d
+10%
Win rate 68.2% Excess +1.4%
510d
Now
+14%
Win rate 73.8% Excess +4.3%
1326d
60-day momentum down
+7%
Win rate 51.7% Excess +5.1%
458d
+18.3%
Win rate 80.6% Excess +3.4%
330d
+8.7%
Win rate 68% Excess +2.8%
253d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 1326 historical days, 120-day forward avg gained 14%, win rate 73.8%, beat the market by 4.3%.

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.

Foreign net buying for 5 straight days

Pending

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

68 times historically; 60-day forward avg +8.21%, win rate 68.2%, beating the market by +3.21 pts on average.

What does 瑞昱 do? Company profile

半導體業；無晶圓廠 IC 設計 台灣證券交易所上市

Overview

2379 對應瑞昱半導體股份有限公司，為台灣證券交易所上市普通股，ISIN 為 TW0002379005。公司成立於 1987/10/21，上市日期 1998/10/26，總部位於新竹科學園區創新二路 2 號；董事長為邱順建，總經理為顏光裕，發言人為黃依瑋。主要經營業務為研究、開發、生產、製造、銷售各種積體電路。依 2025 年報，2025 年底普通股流通股數 515,512,641 股，實收資本額新台幣 5,155,126,410 元；2025 年合併員工數 7,858 人，其中研發 6,883 人、行政與銷售 797 人、生產與測試 178 人，碩博士占 74.62%。2025 年主要股東依年報 2025/09/16 名冊包括國泰台灣 ESG 永續高股息 ETF 5.60%、元大台灣高股息 ETF 5.54%、科達製藥 4.32%、南山人壽 2.94%、富邦人壽 2.02%、聯邦商銀受託保管 UOB 台灣高股息復甦 ETF 1.61%、新制勞退基金 1.41%、元大台灣卓越 50 ETF 1.29%、姜婷琪 1.28%、倪淑卿 1.23%。2025 年合併營收新台幣 1,227.06 億元、年增 8.21%，毛利新台幣 613.7 億元、年增 7.4%，稅後淨利新台幣 147.5 億元、年減 3.5%，EPS 28.77 元；董事會通過 2025 年盈餘配發現金股利每股 25 元。

Business

瑞昱為無晶圓廠 IC 設計公司，商業模式以自行研發 IC、委外晶圓代工、封裝與測試後銷售給品牌廠、系統廠、模組廠、ODM/OEM、通路或電信/網通設備供應鏈。2025 年報揭露營收幾乎全來自積體電路，營業收入結構為積體電路約 99.76%、其他約 0.24%。主要產品群包括：一、通訊網路與聯網多媒體 IC：乙太網路控制器、乙太網路 PHY、USB 儲存橋接、UHD HDR STB SoC、車用乙太網路 PHY/交換器、WLAN/藍牙控制器、AP/Router SoC、IoT SoC、智慧家庭閘道、IoT AI 網路攝影機 SoC、藍牙低功耗與藍牙音訊 SoC、Matter over Thread、多埠乙太網路 PHY/交換器/PON/PSE/VDSL 等。二、電腦週邊與智慧互聯 IC：HD Audio Codec、SoundWire 音訊、車用 Audio DSP、遊戲控制器與行動裝置 Hi-Fi 音訊、影像訊號處理器、Edge-AI 機器視覺控制器、指紋加密控制器、USB Hub、USB4 Hub、Type-C/PD、Redriver、eUSB2 Repeater、低功耗嵌入式控制器與 I3C Hub。三、多媒體 IC：LCD 顯示控制器、遊戲顯示控制器、DisplayPort/HDMI 轉換與 Retimer、智慧連網電視 SoC、8K 影像解碼與超解析影像強化 SoC。主要終端應用為路由器、交換器、家庭閘道、光纖網路設備、無線網路設備、伺服器、桌機、筆電、讀卡機、擴充基座、NAS、智慧穿戴、智慧家電、遊戲主機、監控攝影機、手機、平板、LCD 顯示器、智慧顯示器、智慧電視、機上盒、車載電子與車內網路。年報未揭露實名客戶；2025 年前三大客戶以代號 D、B、A 表示，占營收約 20%、18%、14%，其他占 48%，顯示客戶集中度中等偏高但仍具分散度。

Outlook 2025–2028

2025 年公司已受惠於 PC、網通、消費電子與車用市場需求穩定、產品組合優化與規格升級，營收創新高；但稅後淨利年減，顯示毛利率、呆滯料與成本波動仍是重要變數。2026 年公司年報規畫重點為維持既有市場領先並拓展邊緣生成式 AI 帶來的新應用，投入網通、消費電子、PC 與週邊、車用與新興應用。無線網路方面，Wi-Fi 7 已在 PC 與路由器市場成長，2026 年滲透率預期顯著提升，並延伸至遊戲主機與寬頻電信設備；公司亦推進 Wi-Fi 8 並規畫參與 2026 年 Wi-Fi Alliance 互通測試。IoT 方面，策略從智慧控制延伸到語音、即時影像、Wi-Fi Radar、Wi-Fi Sensing、channel sounding、雲端生成式 AI 與本地端 LLM 平台。乙太網路方面，2.5GbE、5GbE、10GbE 在主機板與邊緣 AI 平台滲透提高，2025 年推出 10GbE 系列並切入伺服器級 edge AI 平台，下一階段導入 25GbE。光通訊方面，100G Optical PHY 已於 2025 推出，400G/800G PAM4 DSP 開發中，並在 2025 年報將 800G 與 1.6T PAM4 DSP 列為開發產品，鎖定資料中心、電信骨幹、HPC 與 AI 伺服器。交換器與 PON 方面，10GPON、Wi-Fi 7 路由器與 Multi-G 交換器需求由各國政府與電信商基建升級帶動。車用方面，車用乙太網路、智慧座艙、車用高速 MIPI bridge、車用音訊與 Wi-Fi/藍牙可受惠於 SDV 與車內資料量提升。2026 年法說與媒體報導顯示，AI PC、Wi-Fi 7、網通規格升級與車用乙太網路為主要成長題材；但公司也提醒記憶體、封測與晶圓代工成本上升將壓抑毛利率，下半年能見度有限。2027 至 2028 年展望屬推估：若 Wi-Fi 7/8、10G/25G Ethernet、100G/400G/800G/1.6T 光通訊、AIoT、智慧家庭、車用乙太網路與 AI PC 規格升級持續放量，瑞昱有機會提高 ASP 與單機矽含量；主要風險為 PC/消費電子終端需求不振、規格升級速度低於預期、Broadcom/Qualcomm/MediaTek/Marvell 等競爭加劇、成熟製程與封測價格上漲、客戶庫存循環、產品生命週期短、主要客戶集中、地緣政治與供應鏈中斷。

Supply Chain

Upstream
Downstream
  • 主要客戶 D 瑞昱 2025 年報以代號揭露之最大客戶，2025 年營收占比約 20%；公司未揭露實名，無法判定是否為台股公司。
  • 主要客戶 B 瑞昱 2025 年報以代號揭露之第二大客戶，2025 年營收占比約 18%；公司未揭露實名，無法判定是否為台股公司。
  • 主要客戶 A 瑞昱 2025 年報以代號揭露之第三大客戶，2025 年營收占比約 14%，註記為關係人；公司未揭露實名，無法判定是否為台股公司。
  • 華碩電腦股份有限公司 2357 台股上市 PC、主機板、路由器與消費電子品牌，屬瑞昱 PC、網通、音訊、USB 與 Wi-Fi/乙太網路 IC 的典型下游應用生態；非年報揭露之實名客戶。
  • 宏碁股份有限公司 2353 台股上市 PC 品牌，屬瑞昱 PC 音訊、網路、無線與影像周邊 IC 的典型終端應用生態；非年報揭露之實名客戶。
  • 技嘉科技股份有限公司 2376 台股上市主機板、顯示卡與伺服器相關廠商，屬乙太網路、音訊、USB/Type-C 與高速介面 IC 的典型下游應用生態；非年報揭露之實名客戶。
  • 微星科技股份有限公司 2377 台股上市電競 PC、主機板與筆電品牌，屬瑞昱 PC 網通、音訊與高速介面 IC 的典型下游應用生態；非年報揭露之實名客戶。
  • 中磊電子股份有限公司 5388 台股上櫃寬頻網通設備廠，產品與瑞昱路由器、家庭閘道、PON、Wi-Fi 與 Ethernet 晶片應用重疊；非年報揭露之實名客戶。
  • 啟碁科技股份有限公司 6285 台股上市無線通訊與網通設備廠，屬 Wi-Fi、Bluetooth、路由器與通訊模組相關下游生態；非年報揭露之實名客戶。

Competitors

  • 聯發科技股份有限公司 2454 台股上市 IC 設計公司，在 Wi-Fi、藍牙、寬頻、消費 SoC、智慧裝置與部分 PC/網通連接晶片領域與瑞昱競爭。
  • 聯詠科技股份有限公司 3034 台股上市顯示驅動與影像相關 IC 設計公司，在顯示、影像與部分多媒體控制 IC 領域與瑞昱部分產品線重疊。
  • 祥碩科技股份有限公司 5269 台股上市高速傳輸介面 IC 設計公司，在 USB、PCIe、橋接與高速介面控制晶片與瑞昱部分 PC 週邊產品線競爭。
  • 創惟科技股份有限公司 6104 台股上櫃 USB 控制 IC 設計公司，在 USB Hub、讀卡、周邊控制晶片與瑞昱部分產品線競爭。
  • 群聯電子股份有限公司 8299 台股上櫃 NAND 控制 IC 與儲存解決方案公司，在部分儲存控制與橋接應用生態與瑞昱有交集。
  • 瑞鼎科技股份有限公司 3592 台股上市顯示驅動與時序控制相關 IC 公司，在顯示控制與面板應用生態與瑞昱多媒體/顯示相關產品部分重疊。
  • Broadcom Inc. 美國上市半導體公司，為乙太網路、交換器、Wi-Fi/藍牙、寬頻與網通晶片全球主要競爭者。
  • Qualcomm Incorporated 美國上市半導體公司，在 Wi-Fi、藍牙、行動與邊緣 AI 連接晶片、消費電子 SoC 具競爭力。
  • Marvell Technology, Inc. 美國上市半導體公司，在高速乙太網路、資料中心、光通訊 DSP、車用與網通基礎設施晶片與瑞昱未來布局重疊。
  • MaxLinear, Inc. 美國上市半導體公司，在寬頻、PON、乙太網路與連接晶片領域與瑞昱部分網通產品競爭。
  • Intel Corporation 美國上市半導體公司，在 PC 乙太網路、Wi-Fi、藍牙與平台連接晶片領域與瑞昱競爭。
Sources（9）

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.