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4952

凌通 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 凌通 to your watchlist to track signal changes on your next visit.
Valuation 34Quality 59Growth 65Momentum 76Chips 59

Is 凌通 a buy? Fundamentals and valuation first

  • Above-average profitability.Operating margin is in the 58th market percentile. Latest quarterly ROE ≈ 2.5%.

  • Valuation is neutral.PE is in the 76th market percentile; within its own history, PE is around the 100th percentile.

  • Foreign investors are net buying.Foreign 20-day net flow ≈ 1.6% of volume (net buy).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 20.4%, 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 +0.48
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 富邦-南京 holds 313 lots
  • sellers have 569 lots left, ~143 sessions to clear

Window from 2026-01-17 · Price +51% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 富邦-南京 has accumulated 313 lots since the start (sold 0%), still adding.
  • Main distributor 凱基-台北 peaked at 609 lots, has sold 44%, 344 left, ~143 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +0.97pp, mid holders +0, retail -0.14pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -476 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
富邦-南京永豐金-大園新加坡商瑞銀臺銀-民權中農永豐金-竹科
Distributing
凱基-台北統一-內湖台新-建北摩根大通華南永昌-竹北元大-福營
Desks
own scale
凱基-中港臺銀-高雄群益金鼎-新竹康和-台中
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 富邦-南京 +313
    sold 0%· still adding
  • 永豐金-大園 +152
    sold 0%· still adding
  • 新加坡商瑞銀 +134
    sold 19%· still adding
  • 臺銀-民權 +102
    sold 0%
  • 中農 +98
    sold 0%
  • 永豐金-竹科 +87
    sold 0%

Distributing

  • 凱基-台北 344 left
    sold 44%· ~143 sessions to clear
  • 統一-內湖 37 left
    sold 81%· paused recently
  • 台新-建北 37 left
    sold 73%· paused recently
  • 摩根大通 88 left
    sold 32%· paused recently
  • 華南永昌-竹北 13 left
    sold 89%· paused recently
  • 元大-福營 73 left
    sold 36%· ~26 sessions to clear

Desks

  • 凱基-中港 -327
    unclassified
  • 臺銀-高雄 -250
    unclassified
  • 群益金鼎-新竹 -190
    unclassified
  • 康和-台中 -183
    unclassified
Still selling 569 lots ~143 sessions to bottom at most
Recent buy/sell force +1,277 absorbed / -232 sold buyers slightly ahead
Hedge-desk net short -456 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.

22 historical occurrences (since 2013-04-29)
Average forward return after 252-day price high (breakout)。20-day: Win 40%, Sample 20, Median -1.39%, Excess +0.59%, Beat mkt rate 40%；60-day: Win 42.1%, Sample 19, Median -1.47%, Excess -0.24%, Beat mkt rate 36.8%；120-day: Win 57.9%, Sample 19, Median +3.83%, Excess +1.52%, Beat mkt rate 52.6%

120 days after: historical avg +10.89%

20-day +2.12%
60-day +4.36%
120-day +10.89%
20-day
60-day
120-day
Win
40%
42.1%
57.9%
Sample
20
19
19
Median
-1.39%
-1.47%
+3.83%
Excess
+0.59%
-0.24%
+1.52%
Beat mkt rate
40%
36.8%
52.6%

Over 19 occurrences, 120-day forward avg gained 10.89%, beat the market by 1.52 pts; win rate 57.9%.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 20.38%

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

39 historical occurrences (since 2011-11-01)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 64.5%, Sample 31, Median +4.28%, Excess +4%, Beat mkt rate 64.5%；60-day: Win 67.7%, Sample 31, Median +6.85%, Excess +6.83%, Beat mkt rate 61.3%；120-day: Win 63.3%, Sample 30, Median +9.22%, Excess +10.46%, Beat mkt rate 50%

120 days after: historical avg +16.94%

20-day +5.2%
60-day +10.93%
120-day +16.94%
20-day
60-day
120-day
Win
64.5%
67.7%
63.3%
Sample
31
31
30
Median
+4.28%
+6.85%
+9.22%
Excess
+4%
+6.83%
+10.46%
Beat mkt rate
64.5%
61.3%
50%

Over 30 occurrences, 120-day forward avg gained 16.94%, beat the market by 10.46 pts; win rate 63.3%.

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)
0-20 618+20.1% +17.8% 76.5% +2.6%
20-40 493+6% +7% 61.7% -0.9%
40-60 466+5.7% -6.2% 36.5% -8.5%
60-80 438+27.8% +22% 61.2% +0.6%
80-100 You are here563+7.8% -2.5% 48.1% -14.7%

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 ≈ 51.71, at the 99.9th 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
+1.1%
Win rate 48.1% Excess -4.6%
455d
+0.1%
Win rate 43.4% Excess -0.9%
346d
Now
+14.1%
Win rate 59.1% Excess -1.9%
606d
60-day momentum down
+15.2%
Win rate 85.1% Excess +9.8%
525d
-2.4%
Win rate 43.8% Excess -6.8%
420d
+2.6%
Win rate 50.9% Excess -16%
346d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 606 historical days, 120-day forward avg gained 14.1%, win rate 59.1%, lagged the market by 1.9%.

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.

64 times historically; 60-day forward avg +3.13%, win rate 50.8%, beating the market by -0.85 pts on average.

What does 凌通 do? Company profile

半導體業；IC設計、消費性IC、多媒體IC、MCU 上市（台灣證券交易所）

Overview

4952 對應證券為凌通科技股份有限公司，簡稱凌通，為台灣證券交易所上市普通股，產業類別為半導體業。公司成立於 2004/03/30，2011/11/01 上市，總部位於新竹市科學園區工業東四路19號。董事長為黃洲杰，總經理為賈懿行，發言人為劉淑勤。實收資本額為新台幣 1,088,158,160 元，已發行普通股 108,815,816 股。公司主要經營業務登記為產品設計業、電子零組件製造業、資料處理服務業，實際營運以高階積體電路產品之研究、開發、設計、製造及銷售為主。公開資料顯示凌陽科技為主要大股東，董監持股資料中凌陽科技持股約 37,117 張、約 34.11%；凌旭投資亦為重要股東，早期公開資料約 14,892 張。員工規模公開資料可見約 285 人，但不同資料源與期間可能有差異。

Business

凌通為無晶圓廠 IC 設計公司，核心能力在 MCU、語音/音樂、影像多媒體、LCD 控制、馬達控制、無線充電與系統單晶片 SoC 解決方案。主要產品線包括：1. 消費性 IC：LCD 控制 IC、語音/音樂控制 IC、通訊控制 IC，應用於計算機、掌上型遊戲機、計時器、電子辭典、電子琴、發聲玩具、教育學習玩具、有聲書、智慧門鎖、電動機車語音提示、電子樂器等。2. 多媒體 IC：整合微處理器、DSP、GPU、影像感測器介面、影像處理與影音解碼能力，應用於行車記錄器、可視門鈴、迷你相機、兒童相機、運動 DV、航拍器、智慧手錶、智慧機器人、HMI 人機介面、智慧家電、工控與儀表彩屏等。3. MCU：遙控器 IC、馬達控制 IC、工業控制 IC、無線充電 IC、車用 MCU，應用於紅外線遙控、直流無刷馬達、風扇、排油煙機、電動自行車、手工具機、觸控家電、車載無線充電、電動座椅、雨刷、車窗、門鎖等。2025 年年報摘要顯示，2025 年合併營收約新台幣 21.3 億元，較 2024 年減少 14%；營業毛利約 7.1 億元，營業利益約 0.9 億元，稅後淨利約 1.12 億元，EPS 約 1.03 元。2025 年產品組合以 IC 產品收入為主，IC 產品收入約 2,105,515 千元、占 98.9%，其他約 22,495 千元、占 1.1%。法說與產業資料顯示三大產品線約為消費性控制 IC 30-35%、多媒體約 50%、MCU 15-20%，此為產品線口徑，與財報產品別口徑不同。銷售區域方面，2024 年產品銷售區域約台灣 49%、亞洲 51%。已揭露的商業進展包括 MCU 打入小米供應鏈與國外品牌廚房家電，多媒體產品拓展可視門鈴、自拍機、工控與 HMI，AI 產品導入美國高階智慧家電品牌。

Outlook 2025–2028

2025 年營運受消費性電子需求疲弱、美國關稅政策、中國經濟放緩與中國市場價格競爭影響，營收與獲利低於 2024 年；公司在 2025 年仍投入約新台幣 4.3 億元研發、占營收約 20%。2025-2026 年主要成長動能包括：1. 車用電子：首顆車規級 MCU 通過 AEC-Q100 Grade 1 認證，可切入車載無線充電、電動座椅、雨刷、車窗與門鎖等智慧車艙應用；新一代符合 Qi 2.2 / 25W 規範的無線充電產品是中期重點。2. Edge AI 與多媒體：新一代 40nm 32 位元高階多媒體晶片整合影像處理單元與 AI 加速器，深度學習演算法涵蓋多人姿態偵測、重疊姿態偵測、手勢與臉部組合偵測，可用於智慧影像、HMI、智慧家電與醫療器材。3. HMI 與智慧家電：HMI 已打入中國家電大廠，並往二輪車智慧儀表板、醫療器材、小家電、電動車、手工具機等應用擴張。4. MCU 與馬達控制：帶 CAN Bus 的直流無刷馬達 IC、90nm 32 位元高階馬達控制 MCU、電動自行車高性價比方案、智慧風扇、智慧手工具機、AI 伺服器散熱系統等，是 2026 年後可能帶動營收的產品。5. 消費性 IC：高階語音微控器、高點數 LCD 控制器、Flash/OTP 高音質產品，仍可支撐玩具、教育學習、語音提示、電子樂器等利基市場。2027-2028 年展望屬推估，若車用 MCU、Qi 2.2 無線充電、Edge AI/HMI 與馬達控制產品順利放量，產品組合有機會由傳統消費性 IC 轉向較高附加價值的車用、AIoT、智慧家電與工控；但風險包括中國同業內捲與價格競爭、消費性電子屬非必需品且訂單能見度短、成熟製程與記憶體供需波動、關稅與匯率、產品導入周期不確定、客戶集中度與品牌客戶實際放量不透明。

Supply Chain

Upstream
  • 晶圓代工廠 公司公開資料確認主要原物料為晶圓；凌通屬 IC 設計公司，晶圓製造一般委由晶圓代工廠完成，但公開資料未確認各供應商名稱與採購比重。
  • 台灣積體電路製造股份有限公司 2330 台股晶圓代工代表公司；列為凌通所屬 IC 設計產業鏈的可能上游，非公司公開確認之特定供應商。
  • 聯華電子股份有限公司 2303 成熟製程晶圓代工代表公司；凌通 MCU、消費性與多媒體 IC 多屬成熟或特殊製程應用，列為產業鏈可能上游，非公司公開確認之特定供應商。
  • 世界先進積體電路股份有限公司 5347 成熟製程晶圓代工代表公司；列為產業鏈可能上游，非公司公開確認之特定供應商。
  • 日月光投資控股股份有限公司 3711 IC 封裝測試代表公司；IC 設計公司通常需委外封裝測試，列為產業鏈可能上游/製造服務夥伴，非公司公開確認之特定供應商。
  • 京元電子股份有限公司 2449 IC 測試服務代表公司；列為產業鏈可能上游，非公司公開確認之特定供應商。
  • 聯寶電子股份有限公司 6821 聯寶公告其無線充電線圈導入凌通最新車用 MCU 建議設計，屬車用無線充電參考設計中的磁性元件/線圈合作供應鏈。
Downstream
  • 小米集團 公開產業資料稱凌通 MCU 產品已打入小米供應鏈；小米為香港上市公司，非台股上市櫃公司。
  • 中國家電大廠 2025 年法說新聞指出凌通 HMI 智慧人機介面產品已打入中國家電大廠；未揭露公司名稱，非可確認台股上市櫃公司。
  • 韓國手機大廠 2025 年法說新聞指出凌通無線充電產品已進入韓國手機大廠供應鏈並量產出貨；未揭露公司名稱，非台股上市櫃公司。
  • 美國高階智慧家電品牌 MoneyDJ 資料指出凌通 AI 產品導入美國高階智慧家電品牌；未揭露公司名稱，非台股上市櫃公司。
  • 國外品牌廚房家電廠 MoneyDJ 資料指出 MCU 產品切入國外品牌廚房家電；未揭露公司名稱，非台股上市櫃公司。
  • 玩具、教育學習、行車記錄器、智慧家電、工控、電動自行車與車用電子客戶 終端應用與通路涵蓋消費性電子、語音互動玩具、教育學習產品、相機/可視門鈴、HMI、馬達控制、無線充電與車用電子；多數客戶未公開具名。

Competitors

  • 瑞昱半導體股份有限公司 2379 國內影音/多媒體 IC 競爭者之一。
  • 新唐科技股份有限公司 4919 國內影音 IC、MCU 與微控制器相關競爭者之一。
  • 松翰科技股份有限公司 5471 國內消費性 IC、語音 IC、MCU 相關競爭者之一。
  • 盛群半導體股份有限公司 6202 國內 MCU 主要競爭者之一。
  • 義隆電子股份有限公司 2458 國內 MCU、控制 IC 與人機介面相關競爭者之一。
  • 普誠科技股份有限公司 6129 國內影音 IC 競爭者之一。
  • 佑華微電子股份有限公司 8024 國內影音/消費性 IC 競爭者之一。
  • 合邦電子 MoneyDJ 列為國內影音 IC 競爭者；現行台股上市櫃。
  • MegaChips 日本上市 IC 設計公司，為影音/消費性 IC 國外競爭者。
  • Cirrus Logic 美國上市類比與音訊 IC 公司，為音訊/影音 IC 國外競爭者。
  • Texas Instruments 美國上市半導體大廠，為 MCU、類比與控制 IC 國外競爭者。
  • Renesas Electronics 日本上市 MCU 與車用半導體大廠，為 MCU 國外競爭者。
  • NXP Semiconductors 荷蘭/美國掛牌半導體大廠，於車用 MCU、無線充電與控制 IC 領域具競爭。
  • Infineon Technologies 德國上市車用、功率與 MCU 半導體大廠，為 MCU 國外競爭者。
  • Microchip Technology 美國上市 MCU 大廠，為 MCU 國外競爭者。
  • STMicroelectronics 歐洲上市半導體大廠，為 MCU 與感測/控制 IC 國外競爭者。
Sources（13）

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.