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Help me set up FinLab and analyze 3289 宜特. Please read: https://finlab.finance/en/setup?stock=3289
3289
quality needs a look, fair valuation, no active signal today.
Is 宜特 a buy? Fundamentals and valuation first
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Weak profitability.Operating margin is in the 17th market percentile. Latest quarterly ROE ≈ 3.6%.
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Valuation is neutral.PE is in the 66th market percentile; within its own history, PE is around the 89th percentile.
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Foreign investors are net selling.Foreign 20-day net flow ≈ -5.2% of volume (net sell).
Chip flow
Distribution to retail — bearish
Window from 2026-01-17 · Price +41% · branches to 2026-06-17· TDCC to 2026-06-12
- Largest holder 華南永昌-大安 has accumulated 803 lots since the start (sold 0%), still adding.
- Main distributor 台新證券 peaked at 1,388 lots, has sold 50%, 694 left, paused recently.
- TDCC big holders (absolute) >1000-lot holders -0.07pp, mid holders -5, retail +3.72pp — drifting down to retail.
- Foreign hedge-desk net short Net short -3,782 lots (inferred from branch profile, mostly hedging — not necessarily bearish, not case-confirmed).
Accumulating
- 華南永昌-大安 +803
- 福邦證券 +562
- 國泰-敦南 +539
- 台新-台中 +432
- 富邦-台中 +396
- 兆豐-大同 +382
Distributing
- 台新證券 694 left
- 統一 107 left
- 永豐金-信義 406 left
- 新光 265 left
- 國泰證券 132 left
- 國票-安和 90 left
Desks
- 凱基-信義 -1,592
- 台灣摩根士丹利 -964
- 美林 -877
- 凱基-台北 -783
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
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 band | Sample days | 240-day avg return | Median | Win rate | Avg excess (vs index) |
|---|---|---|---|---|---|
| 0-20 | 172 | +35% | +7.6% | 83.1% | +8.2% |
| 20-40 | 438 | +38.6% | +38.2% | 90.4% | +4.9% |
| 40-60 | 685 | +23.6% | +12.4% | 76.9% | +8.4% |
| 60-80 | 658 | +10.6% | +1.7% | 51.5% | +0.1% |
| 80-100 You are here | 507 | -16.7% | -26.5% | 37.3% | -35.1% |
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 ≈ 35.09, at the 88.7th 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.
Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 592 historical days, 120-day forward avg declined 0.3%, win rate 40%, lagged the market by 5.6%.
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.
252-day price high (breakout)
PendingAdjusted close makes a new 252-day high; repeats within 20 days counted once.
26 times historically; 60-day forward avg +5.2%, win rate 42.3%, beating the market by -0.77 pts on average.
Monthly revenue YoY ≥ 20% (from filing deadline)
PendingMonthly revenue YoY ≥ 20%; event date is the first trading day after the filing deadline (no look-ahead).
67 times historically; 60-day forward avg +4.47%, win rate 46.3%, beating the market by +1.71 pts on average.
Foreign net buying for 5 straight days
PendingForeign net flow (ex-dealer) positive for 5 straight days; event on day 5; repeats within 20 days counted once.
53 times historically; 60-day forward avg +4.94%, win rate 55.8%, beating the market by +1.84 pts on average.
What does 宜特 do? Company profile
Overview
3289 對應證券為宜特，為櫃買中心上櫃普通股，非 ETF/ETN/權證。公司成立於 1994/03/09，2004/12/28 上櫃，總部位於新竹市埔頂路22號1樓，主要據點含竹科一廠、竹科二廠、埔頂廠、台元廠、內湖廠等實驗室。董事長兼總經理為余維斌。Yahoo 股市揭露資料時間 2025/12/03 的股本為新台幣742,594,210元、已發行普通股74,259,421股；公司 2024 年年報另揭露截至 2025/04/15 已上市櫃普通股73,838,171股、未上市櫃私募600,000股、合計74,438,171股。2024 年年報揭露 2024 年員工1,510人，2025年第1季末1,553人。主要股東截至2025/04/15前十名包括漢勝投資3,652,288股、匯豐台灣商銀受託保管摩根士丹利國際有限公司投資專戶1,902,945股、花旗台灣商銀受託保管挪威中央銀行投資專戶1,803,000股、陳成珍1,479,000股、廖美蓮1,469,000股、謝忠偉1,403,000股、羅緯軒1,336,000股等，單一最大股東持股比例約4.91%。公司網站與年報使用 iST 宜特品牌，英文名稱為 Integrated Service Technology Inc.
Business
宜特定位為電子產業與半導體供應鏈的第三方驗證分析實驗室，提供產品生命週期各階段所需驗證分析服務，涵蓋 IC 電路修補/FIB、工程樣品製備、故障分析 FA、材料分析 MA、可靠度驗證 RA、訊號測試 SI、化學分析、顧問與輔導、硬體解決方案及 MOSFET 晶圓後段製程相關服務。2024 年營收結構高度單一，年報揭露檢測服務收入新台幣4,345,526千元，占營業比重100%；2025 年全年合併營收為新台幣4,842,577千元，年增11.44%；2026年5月單月營收385,903千元、年增0.24%，2026年1至5月累計約1,841百萬元。銷售區域方面，2024年亞洲占75.97%、美洲占19.85%、其他占4.18%。商業模式為以實驗室設備、工程師與認證平台提供客製化委案服務，協助 IC 設計、晶圓代工、封裝測試、PCB/PCBA、系統廠與品牌客戶做研發除錯、可靠度壽命測試、失效原因解析、法規/協會相容性驗證與上市前品質把關；公司年報稱累積萬家客戶，但主要客戶名稱多以甲客戶或廠商代稱，未公開具名。2024 年單一甲客戶銷售額745,774千元、占17.16%，2025年第1季該客戶占19.26%，顯示存在一定大客戶集中度。
Outlook 2025–2028
2025至2028年展望主要來自五條主線。第一，AI/HPC 與高速傳輸推動 PCIe Gen5/6、USB4、HDMI、Type-C PD、SI/PI、高速訊號模擬與 PHY 測試需求，宜特已推出 AI 高速訊號解決方案，客戶包含 IC 設計、AI伺服器、AI PC 代工與品牌大廠等類型。第二，先進製程與先進封裝帶動 2奈米、ALD 新材料、Chiplet、2.5D/3D、TSV、TGV、CPO/矽光子等材料分析與可靠度驗證需求；經濟日報報導宜特將 2026 年成長動能聚焦先進製程2奈米、AI高速運算、矽光子三大核心引擎，並提到攜手光焱科技布局光電驗證平台。第三，車用電子與電動車/自駕趨勢提高 AEC-Q、IATF 16949、長時可靠度、板階與系統級驗證需求，宜特已為 AEC 成員且集團取得 IATF 16949。第四，低軌衛星與太空電子需求帶動振動、衝擊、輻射、熱真空等太空環境測試，公司 2024 年建立太空環境測試實驗室。第五，2025 年啟用全球智慧可靠度驗證中心，透過智慧監控、即時反應與全球連線縮短可靠度測試回饋時間。主要風險包括：檢測分析屬資本與人才密集服務，設備折舊與研發費用可能壓抑短期毛利；客戶研發資本支出若受景氣或地緣政治影響放緩，委案量可能波動；部分新技術如 CPO/矽光子仍處商業化與驗證規範形成階段，放量時點不確定；主要客戶未具名但年報揭露單一客戶占比超過10%，需留意客戶集中與價格議價風險。2027至2028年的量化營收與獲利目標未見公司正式公開，因此僅能以產業趨勢與公司已揭露布局推估。
Supply Chain
- 實驗室設備與耗材供應商（A廠商、B廠商等未具名） 年報揭露進貨項目主要為提供勞務過程所需各種消耗品與耗材；2024年有A廠商占進貨20.66%，2025年第1季A廠商占20.66%、B廠商占11.71%，但公司未揭露正式名稱。
- 光焱科技股份有限公司 7728 公開報導指出宜特攜手光焱科技布局光電驗證平台，屬矽光子/CPO可靠度與量測相關合作夥伴；此關係偏技術平台合作，非傳統原料供應。
- 國際認證與標準組織/實驗室授權單位 宜特服務依賴 USB-IF、VESA、IECQ/ISO 17025、TÜV NORD、SimplayLabs、HDMI、IPC、SMTA 等標準、會員或授權體系；多數非台股掛牌公司或非營利組織。
- IC設計公司（未具名） 年報揭露客戶涵蓋 IC 設計業者，需求包含研發除錯、FIB、FA、MA、RA、SI/PI、高速介面與 AI ASIC 驗證；公司未公開具名主要客戶。
- 晶圓代工與先進製程客戶（未具名） 年報揭露客戶涵蓋晶圓代工，需求與先進製程、新材料、材料分析、失效分析及製程異常解析相關；未公開具名客戶。
- 封裝測試與先進封裝客戶（未具名） 年報揭露客戶涵蓋封裝測試與系統廠，並將2.5D/3D封裝、TSV、TGV、Chiplet、CPO列為發展方向；未公開具名客戶。
- AI伺服器、AI PC、車用電子、太空電子與品牌/系統廠（未具名） 宜特年報與公司新聞將 AI高速運算、車用電子、太空電子列為五大解決方案應用市場；具名主要客戶未揭露。
Competitors
- 閎康科技股份有限公司 3587 台股上櫃公司，半導體材料分析、故障分析、可靠度與檢測分析服務商；市場常與宜特、汎銓並稱台灣半導體檢測分析三雄。
- 汎銓科技股份有限公司 6830 台股上櫃公司，提供半導體材料分析、故障分析及先進製程相關檢測分析服務；與宜特同受惠於先進製程、AI、矽光子與CPO檢測需求。
- SGS Taiwan / SGS集團 外商檢驗、測試、驗證與認證公司，在台提供電子、可靠度、化學與材料相關測試服務；非台股掛牌。
- DEKRA / 德凱 國際檢測認證集團；宜特曾與歐商DEKRA合資成立德凱宜特，DEKRA本身非台股掛牌，部分服務領域與電子/車用/LED/醫療電子可靠度驗證相關。
Sources（12）
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.