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6706

惠特 Optoelectronics As of 2026-06-17 Updated daily after market close

quality needs a look, premium valuation, no active signal today.

This page refreshes daily after the close. Add 惠特 to your watchlist to track signal changes on your next visit.

Is 惠特 a buy? Fundamentals and valuation first

Weak profitability.Operating margin is in the 4th market percentile. Latest quarterly ROE ≈ -2.0%.
Valuation is high.PE is in the 82th market percentile; within its own history, PE is around the 78th percentile.
Foreign investors are net selling.Foreign 20-day net flow ≈ -2.5% of volume (net sell).

Chip flow

Bullish +0.26

BearishNeutralBullish

Institutional rotation, concentration steady — bullish

Institutional rotation, concentration steady — bullish
統一 holds 885 lots
sellers have 6,340 lots left, ~463 sessions to clear

Window from 2026-01-17 · Price +26% · branches to 2026-06-17· TDCC to 2026-06-12

Largest holder 統一 has accumulated 885 lots since the start (sold 9%), now trimming.
Main distributor 美商高盛 peaked at 3,421 lots, has sold 60%, 1,361 left, ~378 sessions to clear at the recent pace.
TDCC big holders (absolute) >1000-lot holders -0.07pp, mid holders +5, retail -3.58pp — little change.
Foreign hedge-desk net short Net short -3,924 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

統一國票-敦北法人富邦-台南宏遠-新化國泰-敦南兆豐證券

Distributing

美商高盛凱基-站前新加坡商瑞銀美林中國信託永豐金證券

Desks

own scale

凱基-台北新光摩根大通凱基-科園

Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline

Branch details Unit: lots

Accumulating

統一 +885

sold 9%
國票-敦北法人 +858

sold 3%
富邦-台南 +560

sold 0%
宏遠-新化 +361

sold 0%
國泰-敦南 +242

sold 9%· still adding
兆豐證券 +207

sold 16%

Distributing

美商高盛 1,361 left

sold 60%· ~378 sessions to clear
凱基-站前 1,621 left

sold 48%· ~463 sessions to clear
新加坡商瑞銀 582 left

sold 75%· ~21 sessions to clear
美林 849 left

sold 62%· ~63 sessions to clear
中國信託 512 left

sold 71%· paused recently
永豐金證券 300 left

sold 82%· ~30 sessions to clear

Desks

凱基-台北 -2,113

day-trade · selling pressure
新光 -1,653

unclassified
摩根大通 -1,472

hedge desk · will cover
凱基-科園 -547

unclassified

Still selling 6,340 lots ~463 sessions to bottom at most

Recent buy/sell force +1,035 absorbed / -1,693 sold sellers slightly ahead

Hedge-desk net short -1,657 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)

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

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.

0-20 Insufficient data

20-40 Insufficient data

40-60 Insufficient data

60-80 Insufficient data Now

80-100 Insufficient data

PE percentile band	Sample days	240-day avg return	Median	Win rate	Avg excess (vs index)
0-20	0	Insufficient data
20-40	0	Insufficient data
40-60	0	Insufficient data
60-80 You are here	0	Insufficient data
80-100	0	Insufficient data

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 ≈ 42.29, at the 78.3th percentile of its own history (60-80 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

-27.3%

Win rate 0% Excess -38%

51d

Insufficient data
(0d)

60-day momentum down

Insufficient data
(26d)

Insufficient data
(0d)

Now

Insufficient data
(0d)

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)

Pending

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

12 times historically; 60-day forward avg -1.91%, win rate 40%, beating the market by -2.61 pts on average.

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).

42 times historically; 60-day forward avg -4.35%, win rate 40%, beating the market by -4.03 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.

21 times historically; 60-day forward avg +1.15%, win rate 40%, beating the market by -3.82 pts on average.

What does 惠特 do? Company profile

光電業；光電半導體測試設備、雷射微細加工設備、矽光子與光通訊製程設備、測試分選代工服務上市（臺灣證券交易所）

Overview

6706 對應證券為惠特科技股份有限公司，為臺灣證券交易所上市普通股，非 ETF、ETN、權證或特別股。公開資訊與股市資料顯示公司成立日為 2000/01/25；公司官網敘述則以 2004 年成立／重新營運作為品牌沿革起點，因此本研究將 2000 年視為法定設立年份，2004 年視為主要營運起點。公司於 2018/11/19 興櫃、2019/12/19 上市。總部登記地址為台中市西屯區工業區35路3號；公司官網頁尾亦揭示台中市西屯區工業區9路8號為據點資訊。董事長為鎧叡投資有限公司代表人賴允晉；2024/07/04 起總經理由徐秋田擔任，賴允晉辭去總經理並兼任策略長。發言人為許景翔。實收資本額約新台幣 7.85 億元，已發行普通股約 78,548,865 股。員工規模不同來源介於 450 人至 500 人以上，法說資料揭示員工超過 500 人。主要股東與董監持股方面，公開股市資料顯示董事長鎧叡投資有限公司持股約 5.08%，董監持股比例約 10% 左右；前十大股東完整最新名冊需以股東會年報或集保資料為準。

Business

惠特為光電半導體測試與雷射微細加工設備供應商，商業模式包含自有品牌設備研發製造、系統整合、設備代工製造，以及 LED/LD/DFB/EEL 等元件測試與分選代工。主要產品線包括：LED/Mini LED 晶粒與晶圓點測機、分選機、Micro LED 測試與轉移方案、VCSEL/EEL/PD 等光電半導體測試設備、半導體晶圓測試設備、矽光子元件貼合機、矽光子單晶點測機、光纖陣列 AOI/功能測試/返修設備、雷射切割鑽孔刻印清潔設備、AI 眼鏡相關精密組裝與測試設備。2025 年第三季法說資料顯示，2025 年前三季營收 7.78316 億元，年增 38.6%；產品別為設備 4.53615 億元、占 58.28%，代工 2.76629 億元、占 35.54%，其他 0.48072 億元、占 6.18%。2025 年第三季單季產品組合轉為代工占 77.15%、設備占 13.26%、其他占 9.58%，顯示短期營收受設備出貨時點影響大，而代工服務比重正在提高。主要終端應用涵蓋次世代顯示、3D 感測、光纖通訊、AI 高速傳輸、資料中心、高效運算、電動車、功率半導體、PCB 與精密光學。歷史客戶與下游應用包含 LED 磊晶／晶粒廠、Micro LED 廠、面板廠、光通訊與矽光子元件廠；公開報導曾提及晶電／富采、錼創、三安光電、華燦光電、乾照光電、兆馳光電等。

Outlook 2025–2028

2025 年惠特仍處營運轉型與調整期，全年營收約 8.99 億元、年減約 3%，但前三季因產品組合改善使毛利率較前期回升；第三季單季毛利率 36.9%，營業虧損較去年同期及前一季收斂。2026 年展望重點在光通訊 CPO/MPO、矽光子雷射光源 DFB/EEL 測試分選代工、矽光子製程設備驗證轉量產，以及新營運總部整合研發與生產效率。公司管理層與媒體報導多次指出，目標為 2026 年第二季前後單季轉虧為盈，且 DFB/EEL 代工加入後，代工營收占比有機會提升至 50% 以上。2026 至 2028 年成長動能主要來自 AI 資料中心高速傳輸需求、CPO/矽光子由驗證走向量產、PIC 晶片量測需求放量、DFB/EEL 雷射元件測試分選外包需求、Probe Card/Pogo Pin 雷射清潔設備導入、AI 眼鏡精密組裝測試設備、Micro LED 與化合物半導體設備升級。潛在風險包括：CPO/矽光子量產時程遞延、客戶驗證未如預期、設備出貨認列波動大、LED 舊業務景氣疲弱、中國設備商價格競爭、客戶集中度、匯率波動、代工產能利用率不足、新總部折舊與長期負債增加、研發支出維持高水位，以及與國際設備大廠競爭。2027 至 2028 的可見度仍高度依賴 AI 光通訊規格演進、主要客戶資本支出與惠特能否由實驗機驗證切入量產供應鏈；相關營收與獲利數字目前多屬公司目標或法人推估，尚非確定財測。

Supply Chain

Upstream

光學鏡頭、雷射光源、精密機械、運動控制、探針卡、AOI 影像與工控零組件供應商此為惠特設備產品所需上游零組件與模組類別；未找到公司公開揭露特定長期供應商名單，因此不指定單一公司。
上銀科技 2049 精密機械與自動化設備常用線性傳動／運動控制元件供應商；作為惠特設備上游零組件類別的產業代表，未確認為惠特直接供應商。
穎崴科技 6515 半導體測試介面與探針卡相關供應鏈公司；惠特雷射清潔與測試設備涉及 Probe Card／Pogo Pin 應用，此列為相關上游／周邊供應鏈代表，未確認為直接供應商。
雷傑科技股份有限公司未上市公司；惠特曾公告投資雷傑科技，雷傑與 Micro LED 巨量轉移設備相關，屬惠特在新型顯示設備技術布局的關係企業／技術鏈夥伴。

Downstream

富采投資控股 3714 台股上市 LED／化合物半導體上游集團；公開報導提及惠特設備供貨給晶電／富采相關 Micro LED 產線，是惠特 LED/Micro LED 測試與分選設備及代工服務的重要下游族群。
錼創科技-KY創 6854 台股上市公司；Micro LED 技術公司，公開報導提及惠特及其投資之雷傑設備有供貨給錼創，屬 Micro LED 測試、轉移及量產設備下游應用客戶。
友達光電 2409 台股上市面板廠；屬 Micro LED／次世代顯示終端整合陣營之一，為惠特 LED/Micro LED 測試設備間接或潛在下游應用端。
群創光電 3481 台股上市面板廠；屬 Micro LED／次世代顯示終端整合陣營之一，為惠特測試與製程設備間接或潛在下游應用端。
三安光電中國 A 股上市 LED／化合物半導體公司；多個產業資料提及為惠特主要客戶或中國 LED/Micro LED 下游客戶之一，非台股掛牌。
華燦光電中國上市 LED 晶片公司；產業資料提及為惠特主要客戶或中國 LED/Micro LED 下游客戶之一，非台股掛牌。
乾照光電中國上市 LED 晶片公司；產業資料提及為惠特主要客戶之一，非台股掛牌。
兆馳股份／兆馳光電中國上市 LED 顯示與光電相關公司；產業資料提及為惠特主要客戶之一，非台股掛牌。
國內外光通訊與矽光子元件大廠惠特法說與新聞提及 DFB/EEL、PIC 晶片量測、CPO/MPO 設備與代工訂單來自國內外主要客戶，但多數客戶名稱未公開，故以類別列示。

Competitors

致茂電子 2360 台股上市測試量測與自動化設備公司，產品橫跨半導體、光電、電力電子等；曾與惠特有專利訴訟新聞，屬光電／半導體測試設備競爭或相鄰業者。
東捷科技 8064 台股上櫃自動化與光電／半導體設備廠，與惠特在設備整合、自動化製程與顯示相關設備領域有部分相鄰。
均豪精密 5443 台股上櫃 AOI、半導體與面板檢測設備公司；與惠特在光電、半導體檢測設備與自動化設備應用端部分相鄰。
牧德科技 3563 台股上市 PCB／AOI 與雷射加工設備公司；與惠特雷射微細加工、PCB 製程設備部分相鄰。
由田新技 3455 台股上市 AOI 檢測設備公司；與惠特在光電、半導體與顯示檢測設備領域有相鄰競爭。
長川科技中國 A 股半導體測試設備公司；公開產業分析提及中國設備商價格競爭，非台股掛牌。
ASMPT 香港上市／國際半導體與先進封裝設備大廠；在光電、封裝、貼裝與自動化設備領域為國際競爭者，非台股掛牌。
Kulicke & Soffa 美國上市半導體封裝與組裝設備公司；在先進封裝、光電與精密組裝設備領域為國際競爭者，非台股掛牌。

Sources（20）

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.