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3152

璟德 Communications & Internet As of 2026-06-17 Updated daily after market close

strong quality, fair valuation.

1 active signal
252d high
This page refreshes daily after the close. Add 璟德 to your watchlist to track signal changes on your next visit.
Valuation 42Quality 75Growth 61Momentum 83Chips 90

Is 璟德 a buy? Fundamentals and valuation first

  • Top-tier profitability.Operating margin beats ~92% of the market. Latest quarterly ROE ≈ 2.4%.

  • Valuation is neutral.PE is in the 48th market percentile; within its own history, PE is around the 44th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 10.1% of volume (net buy).

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

Chip flow

Neutral +0.03
BearishNeutralBullish

Institutional rotation, concentration steady — neutral

  • Institutional rotation, concentration steady — neutral
  • 美商高盛 holds 1,236 lots
  • sellers have 337 lots left, ~65 sessions to clear

Window from 2026-01-17 · Price +21% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 美商高盛 has accumulated 1,236 lots since the start (sold 0%), still adding.
  • Main distributor 兆豐-新竹 peaked at 700 lots, has sold 86%, 97 left, ~65 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders -5.72pp, mid holders +6, retail -2.07pp — little change.
  • Foreign hedge-desk net short Net short -17 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
美商高盛美林摩根大通新加坡商瑞銀台灣摩根士丹利港商野村
Distributing
兆豐-新竹永豐金證券元大證券國泰證券國票證券富邦證券
Desks
own scale
華南永昌-南京第一金-中山群益金鼎-館前大昌-樹林
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 美商高盛 +1,236
    sold 0%· still adding
  • 美林 +1,186
    sold 3%· still adding
  • 摩根大通 +1,074
    sold 0%· still adding
  • 新加坡商瑞銀 +848
    sold 0%· still adding
  • 台灣摩根士丹利 +615
    sold 24%· still adding
  • 港商野村 +457
    sold 24%· still adding

Distributing

  • 兆豐-新竹 97 left
    sold 86%· ~65 sessions to clear
  • 永豐金證券 326 left
    sold 35%· paused recently
  • 元大證券 158 left
    sold 58%· paused recently
  • 國泰證券 50 left
    sold 79%· paused recently
  • 國票證券 108 left
    sold 40%· paused recently
  • 富邦證券 37 left
    sold 79%· paused recently

Desks

  • 華南永昌-南京 -1,274
    unclassified
  • 第一金-中山 -593
    unclassified
  • 群益金鼎-館前 -223
    unclassified
  • 大昌-樹林 -163
    unclassified
Still selling 337 lots ~65 sessions to bottom at most
Recent buy/sell force +3,625 absorbed / -162 sold buyers slightly ahead
TDCC big holders · absolute-holding cross-check
>1000-lot holder share Retail (<400 lots) share Price (right axis)

Mixed direction: big-holder and retail changes are not aligned.

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.

29 historical occurrences (since 2009-08-10)
Average forward return after 252-day price high (breakout)。20-day: Win 60.7%, Sample 28, Median +3.32%, Excess +2.7%, Beat mkt rate 64.3%；60-day: Win 60.7%, Sample 28, Median +4.5%, Excess +5.37%, Beat mkt rate 50%；120-day: Win 77.8%, Sample 27, Median +27.08%, Excess +15.59%, Beat mkt rate 66.7%

120 days after: historical avg +23.14%

20-day +3.93%
60-day +8.54%
120-day +23.14%
20-day
60-day
120-day
Win
60.7%
60.7%
77.8%
Sample
28
28
27
Median
+3.32%
+4.5%
+27.08%
Excess
+2.7%
+5.37%
+15.59%
Beat mkt rate
64.3%
50%
66.7%

Over 27 occurrences, 120-day forward avg gained 23.14%, beat the market by 15.59 pts; win rate 77.8%.

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)
0-20 176+66.3% +88.6% 85.8% +47.2%
20-40 290+34.2% +40% 66.9% +10.3%
40-60 You are here479+40.2% +51.7% 77.2% +30%
60-80 818+19.9% +17.1% 68.2% +8.3%
80-100 1280-8.6% -14.5% 31.4% -28.4%

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 ≈ 21.44, at the 44.5th percentile of its own history (40-60 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
+36.8%
Win rate 100% Excess +14.3%
108d
Now
+31.1%
Win rate 73.3% Excess +24.3%
330d
+6.1%
Win rate 57.4% Excess -2%
1208d
60-day momentum down
+17.7%
Win rate 71.1% Excess +4.7%
332d
+4.3%
Win rate 50.9% Excess -0.3%
585d
-6.4%
Win rate 32.2% Excess -15%
600d

Currently in “Mid × 60-day momentum up”: across 330 historical days, 120-day forward avg gained 31.1%, win rate 73.3%, beat the market by 24.3%.

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.

Signals not active (historical stats for reference)

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

Monthly revenue YoY ≥ 20% (from filing deadline)

Pending

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

64 times historically; 60-day forward avg +5.75%, win rate 56.7%, beating the market by +4.14 pts on average.

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.

56 times historically; 60-day forward avg +2.9%, win rate 49.1%, beating the market by -1.45 pts on average.

What does 璟德 do? Company profile

通信網路業 櫃買中心上櫃

Overview

璟德電子工業股份有限公司為營運公司普通股，股票代號3152，於櫃買中心掛牌交易。公司成立於1998年4月，總部位於新竹縣湖口鄉新竹工業區漢陽路165號，2008年3月24日正式上櫃。公司英文名稱為Advanced Ceramic X Corporation，簡稱ACX。董事長為雙德投資股份有限公司代表人郭建文，總經理為郭建文。公開資料顯示，2026年初現金減資後資本額約新台幣3.9億元；年報所列114年度員工人數為262人。主要股東依2026年2月8日年報資料包含郭家福投資7.95%、明凱科技4.45%、美商喬翰生科技4.18%、勁德興業3.60%、定福投資3.25%、廣泰實業2.90%、美而固建設2.81%、霖勵建設2.62%、郭枝群2.48%、郭建文2.48%。

Business

璟德專注於低溫共燒陶瓷（LTCC）技術與射頻前端高頻整合元件及模組之研發、設計、製造與銷售。114年度營收結構為高頻整合型元件及模組新台幣1,425,963千元，占比100%。主要產品包括濾波器、Balun、Balanced Filter、雙工器、三工器、耦合器、晶片天線、晶片天線模組、藍芽模組、射頻前端模組、天線開關模組，以及高頻晶片陶瓷元件如電感、電容等。終端應用涵蓋智慧型手機、WLAN/Wi-Fi、Bluetooth、GPS、筆記型電腦、平板、無線電話、車用電子、遊戲機、物聯網、穿戴裝置、衛星通訊、基地台與特殊應用。商業模式以射頻元件與模組的客製化設計導入、量產供貨與高附加價值少量多樣產品為主。114年度銷售額10%以上客戶包括JOHANSON約20.16%、MINI-CKT約14.89%，另有匿名客戶b約11.90%、匿名客戶a約11.67%。

Outlook 2025–2028

2025至2028年主要展望來自Wi-Fi 7/8升級、低軌衛星、寬頻、物聯網、國防、基礎建設、車用與AI終端。公司年報指出，無線連線將朝高速、寬頻、高頻、低耗能與高可靠度發展，LTE、NB-IoT、RedCap、WiFi HaLow、低軌衛星通信、手機直連衛星、高功率基地台與新世代小型基地台皆是研發方向；公司已投入毫米波、Wi-Fi 7零組件、超低損耗路由器濾波器與分頻器，並布局6G、Wi-Fi 8等技術，Wi-Fi 8預期於2028年制定完成。法人與媒體報導顯示，2026年成長動能主要來自Wi-Fi 7放量與低軌衛星相關產品，低軌衛星與基地台產品已與多家客戶合作送樣驗證，預期2026至2027年逐步看到成果；另有報導稱公司已切入歐美大型衛星網路業者地面接收站供應鏈，並透過夥伴進入SpaceX、OneWeb地面站供應鏈。2025年第3季產品應用結構據媒體報導約為無線網路42%、手機15%、特殊應用43%，公司策略為降低中國市場與手機價格競爭曝險，提升非中國市場、少量多樣及特殊應用比重。主要風險包括手機與中國市場價格競爭、Wi-Fi 7/8滲透速度不如預期、低軌衛星設計導入與認證時程延後、客戶集中、匿名大客戶需求波動、匯率、關稅與地緣政治，以及國際大廠如Murata、TDK、Taiyo Yuden等在射頻與被動元件領域的技術與規模競爭。

Supply Chain

Upstream
  • 塞拉尼斯 年報列為陶瓷粉末與導電油墨主要供應商之一，供應狀況良好；非台股掛牌公司。
  • 台灣賀利氏 年報列為陶瓷粉末主要供應商之一，供應狀況良好；為賀利氏集團在台關係企業，非台股掛牌公司。
  • 台灣雙日 年報列為導電油墨主要供應商之一，供應狀況良好；母集團雙日為日本上市企業，非台股掛牌公司。
  • 大洲 年報列為導電油墨主要供應商之一，供應狀況良好；公開資料不足以確認為台股掛牌公司。
  • 匿名供應商A、B、C、D 年報揭露近二年進貨額10%以上供應商但以代號匿名；114年度A約20.62%、C約14.66%、D約10.67%、B約7.75%，無法確認實體與是否掛牌。
Downstream
  • Johanson Technology／美商喬翰生科技 年報揭露為主要客戶及法人董事相關方，114年度銷貨占比約20.16%；美國公司，非台股掛牌。
  • Mini-Circuits 年報揭露為主要客戶，114年度銷貨占比約14.89%；美國射頻與微波元件公司，非台股掛牌。
  • 匿名客戶a、b 年報揭露114年度銷貨占比分別約11.67%與11.90%，但以代號匿名，無法確認實體與是否掛牌。
  • SpaceX 經濟日報報導璟德透過夥伴打入SpaceX地面站供應鏈；SpaceX為美國未上市公司，非台股掛牌。
  • OneWeb 經濟日報報導璟德透過夥伴打入OneWeb地面站供應鏈；OneWeb屬海外衛星通訊業者體系，非台股掛牌。

Competitors

  • 國巨 2327 台股上市被動元件大廠，產品涵蓋電阻、電容、電感、磁性元件與部分高頻被動元件，與璟德在部分被動與射頻元件應用上有競爭或替代關係。
  • 華新科 2492 台股上市被動元件廠，MLCC、電阻、電感與射頻相關被動元件為主要業務之一，為同業競爭者。
  • 禾伸堂 3026 台股上市被動元件與通路/模組相關公司，部分陶瓷被動元件與高頻應用可能與璟德重疊。
  • 佳邦 6284 台股上櫃保護元件、天線與射頻元件廠，部分無線通訊與高頻元件應用與璟德具競爭關係。
  • 台嘉碩 3221 台股上櫃石英元件、濾波器與通訊元件公司，部分射頻濾波應用與璟德同屬無線通訊元件供應鏈。
  • 耀登 3138 台股上櫃天線、射頻測試與低軌衛星相關概念公司，與璟德在衛星通訊、射頻與天線應用市場具部分競爭與互補關係。
  • Murata Manufacturing 日本上市電子元件大廠，全球MLCC、射頻模組、濾波器與LTCC相關元件競爭者；非台股掛牌。
  • TDK 日本上市電子元件大廠，電感、濾波器、射頻與被動元件競爭者；非台股掛牌。
  • Taiyo Yuden 日本上市被動元件大廠，MLCC、電感與高頻元件為競爭領域；非台股掛牌。
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.