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8028

昇陽半導體 Semiconductor As of 2026-06-17 Updated daily after market close

strong quality, premium valuation.

1 active signal
Revenue ≥20%
This page refreshes daily after the close. Add 昇陽半導體 to your watchlist to track signal changes on your next visit.
Valuation 19Quality 88Growth 83Momentum 90Chips 19

Is 昇陽半導體 a buy? Fundamentals and valuation first

  • Top-tier profitability.Operating margin beats ~90% of the market. Latest quarterly ROE ≈ 5.4%.

  • Valuation is high.PE is in the 83th market percentile; within its own history, PE is around the 93th percentile.

  • Foreign investors are net selling.Foreign 20-day net flow ≈ -2.8% of volume (net sell).

  • Strong revenue growth.Latest monthly revenue YoY ≈ 46.0%, above the 20% growth threshold.

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

Chip flow

Bullish +0.44
BearishNeutralBullish

Single-sided accumulation, concentration rising — bullish

  • Single-sided accumulation, concentration rising — bullish
  • 富邦證券 holds 8,944 lots
  • sellers have 18,576 lots left, ~5030 sessions to clear

Window from 2026-01-17 · Price +71% · branches to 2026-06-17· TDCC to 2026-06-12

  • Largest holder 富邦證券 has accumulated 8,944 lots since the start (sold 3%), still adding.
  • Main distributor 美商高盛 peaked at 9,607 lots, has sold 48%, 5,028 left, ~25 sessions to clear at the recent pace.
  • TDCC big holders (absolute) >1000-lot holders +12.68pp, mid holders +6, retail -14.00pp — concentration shifting upward.
  • Foreign hedge-desk net short Net short -1,140 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
富邦證券港商野村中國信託兆豐證券永豐金-匯立福邦證券
Distributing
美商高盛台灣摩根士丹利摩根大通美林新加坡商瑞銀凱基-台北
Desks
own scale
永豐金證券(牛牛牛)亞證券元富台新證券
Price Accumulating & Distributing share one scale (comparable); Desks is independent. Zero is the baseline
Branch details Unit: lots

Accumulating

  • 富邦證券 +8,944
    sold 3%· still adding
  • 港商野村 +3,321
    sold 23%· still adding
  • 中國信託 +1,406
    sold 0%· still adding
  • 兆豐證券 +1,362
    sold 0%· still adding
  • 永豐金-匯立 +1,037
    sold 0%
  • 福邦證券 +745
    sold 4%· still adding

Distributing

  • 美商高盛 5,028 left
    sold 48%· ~25 sessions to clear
  • 台灣摩根士丹利 4,363 left
    sold 45%· paused recently
  • 摩根大通 3,049 left
    sold 53%· ~11 sessions to clear
  • 美林 3,058 left
    sold 46%· ~42 sessions to clear
  • 新加坡商瑞銀 3,663 left
    sold 28%· ~113 sessions to clear
  • 凱基-台北 1,285 left
    sold 55%· paused recently

Desks

  • 永豐金證券 -1,635
    unclassified
  • (牛牛牛)亞證券 -1,221
    unclassified
  • 元富 -1,006
    unclassified
  • 台新證券 -793
    unclassified
Still selling 18,576 lots ~5030 sessions to bottom at most
Recent buy/sell force +2,925 absorbed / -6,952 sold sellers slightly ahead
Hedge-desk net short -463 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.

Monthly revenue YoY ≥ 20% (from filing deadline)

Active · now 46.03%

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

43 historical occurrences (since 2018-07-10)
Average forward return after Monthly revenue YoY ≥ 20% (from filing deadline)。20-day: Win 58.3%, Sample 36, Median +5.17%, Excess +3.08%, Beat mkt rate 52.8%；60-day: Win 58.8%, Sample 34, Median +3.66%, Excess +1.5%, Beat mkt rate 47.1%；120-day: Win 64.7%, Sample 34, Median +8.12%, Excess +6.3%, Beat mkt rate 50%

120 days after: historical avg +14.52%

20-day +4.83%
60-day +4.66%
120-day +14.52%
20-day
60-day
120-day
Win
58.3%
58.8%
64.7%
Sample
36
34
34
Median
+5.17%
+3.66%
+8.12%
Excess
+3.08%
+1.5%
+6.3%
Beat mkt rate
52.8%
47.1%
50%

Over 34 occurrences, 120-day forward avg gained 14.52%, beat the market by 6.3 pts; win rate 64.7%.

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)
0-20 223+85.4% +131.3% 65.9% +53.8%
20-40 69+18.5% -5% 33.3% -6%
40-60 229+48.8% +16.4% 73.4% +31.5%
60-80 186+54.3% +31.7% 96.2% +25.7%
80-100 You are here236+31.9% +30.9% 97.9% +19.2%

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 ≈ 68.92, at the 92.7th 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.

Valuation
Momentum
Cheap (own-history bottom 1/3)
Mid
Expensive (own-history top 1/3)
60-day momentum up
+33.1%
Win rate 73.3% Excess +16.3%
75d
+28.9%
Win rate 47.9% Excess +20.9%
282d
Now
+17.5%
Win rate 78.7% Excess +9.2%
347d
60-day momentum down
+24.3%
Win rate 78.4% Excess +3%
171d
+36.4%
Win rate 59.1% Excess +20.2%
88d
+30.8%
Win rate 98% Excess +24.5%
100d

Currently in “Expensive (own-history top 1/3) × 60-day momentum up”: across 347 historical days, 120-day forward avg gained 17.5%, win rate 78.7%, beat the market by 9.2%.

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.

252-day price high (breakout)

Pending

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

14 times historically; 60-day forward avg +6.71%, win rate 53.8%, beating the market by +5.43 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.

32 times historically; 60-day forward avg +10.68%, win rate 61.3%, beating the market by +1.76 pts on average.

What does 昇陽半導體 do? Company profile

半導體業；半導體晶圓製程服務、再生晶圓、晶圓薄化 台灣證券交易所上市

Overview

8028 對應證券為昇陽半導體，屬台灣證券交易所上市普通股。公司全名為昇陽國際半導體股份有限公司，英文名 Phoenix Silicon International Corporation，英文簡稱 PSI。公司成立於 1997/03/03，總部位於新竹科學園區新竹市力行路 6 號；主要廠區包括竹科總廠、竹科二廠、中港廠等。公司於 2014/12/23 登錄興櫃，2018/07/10 於台灣證券交易所上市掛牌交易。董事長為梁明成，總經理為蔡幸川，發言人為黃豐年。實收資本額依 2026 年市場資料約新台幣 17.52 至 17.53 億元，已發行普通股約 1.75 億股；年報揭露 2024 年底前後股本仍因現增與可轉債轉換可能變動，實際應以公開資訊觀測站最新公告為準。員工規模方面，2024 年個別財報揭露平均員工數約 835 人；就業與徵才平台另有 850 至 1000 人口徑，推測因統計時點與是否含約聘、派遣或集團口徑不同。主要股東依 2025/03/28 年報前十大資料包括均豪精密工業約 5.21%、聖暉工程科技約 3.74%、花旗託管瑞銀歐洲 SE 投資專戶約 3.40%、渣打託管 JP Morgan Securities 投資專戶約 2.44%、花旗託管挪威中央銀行投資專戶約 1.85%、鄭文震約 1.64%、匯豐託管法國興業歐洲選擇權投資專戶約 1.61%、民合順投資約 1.31%、花旗託管 BNP 金融市場投資專戶約 1.17% 等。

Business

公司主要從事半導體晶圓製程服務之研發、製造與銷售，核心服務為晶圓再生與晶圓薄化。2024 年營收結構為半導體晶圓代工服務 100%，營收新台幣 35.516 億元；2024 年銷售地區比重為內銷約 84.93%、亞洲外銷約 9.16%、美洲約 5.74%、歐洲約 0.17%。晶圓再生服務涵蓋 6 吋、8 吋、12 吋再生晶圓與 8 吋、12 吋測試晶圓，主要供 IC 製造廠用於機台測試、製程參數驗證、薄膜品質驗證與製程監控，商業價值在於降低新測試晶圓耗用、協助客戶降低營運成本並支持循環經濟。晶圓薄化服務涵蓋 6 吋、8 吋晶圓薄化、正背面金屬製程、背面研磨、晶背金屬化、晶圓針測等，主要應用於電源管理、功率半導體、消費電子、工業電子、車用、醫療、光電與航太用半導體元件。公司亦開發 12 吋再生晶圓高階技術、低金屬殘留清洗、高平坦度測試晶圓、矽晶圓載板、SiC/GaN 寬能隙元件晶圓研磨蝕刻與金屬製程、12 吋 MOSFET 晶圓 BGBM 製程，以及少量生醫檢測晶片相關技術。公司商業模式偏向製程服務代工，貼近台灣晶圓代工與 IDM 客戶，以產能、良率、潔淨度、平坦度、交期與客戶認證形成進入門檻。公司自稱或法說揭露其在 12 吋再生晶圓、晶圓薄化服務具全球或台灣領先地位；2024 年下半年公司自行統計其台灣 12 吋再生晶圓產能市占約 55% 至 60%，晶圓薄化月產能約 4 萬片、台灣市占約 20%，此為公司自行估算而非第三方完整市場統計。

Outlook 2025–2028

2025 至 2028 年主要成長動能來自 AI、HPC、先進製程、先進封裝、HBM/DRAM 擴產、功率半導體、SiC/GaN 寬能隙材料、車用與能源轉型。公司 2025 年法說會指出 AI 推動半導體市場往 1 兆美元規模發展，並預估半導體市場 2024 至 2028 年 CAGR 約 11.2%；公司聚焦兩大策略：一是先進邏輯、記憶體與先進封裝帶動高規格再生晶圓需求，二是 12 吋矽晶圓薄化與 SiC 材料在功率元件、散熱與資料中心電力管理上的新需求。公司 2025Q1 營收約 10.82 億元、毛利率 37.3%、營益率 24.0%、EPS 1.34 元；2025Q3 營收約 11.64 億元、毛利率 33.4%、營益率 20.9%、EPS 1.17 元，顯示擴產與產品組合改善已反映於營運。2025 全年營收依公開月營收資料約 45.10 億元，2026 年 1 至 5 月累計營收約 22.47 億元、年增約 27.33%，短期仍呈成長趨勢。產能方面，中港廠為自動化再生晶圓廠，2024 年底月產能提升至約 24 萬片，年報稱第二期擴充計畫預計 2025 年完成後中港廠月產能可達約 31 萬片、全公司總月產能約 80 萬片；2025Q3 法說會另提出 2025 起啟動台中第二座廠建設，南台灣基地正審慎評估，美國與印度在地化生產亦列為長期機會。2025 至 2028 年可觀察重點包括：先進製程投片量與客戶稼動率、12 吋再生晶圓市占提升、先進封裝與 HBM 相關再生晶圓需求、12 吋功率元件薄化驗證進度、SiC/GaN 薄化與導熱材料商業化、海外設廠或客戶在地化要求、資本支出回收與毛利率維持。主要風險包括半導體景氣循環、先進製程客戶投資延後、擴產後稼動率不足、價格競爭、前段晶圓廠或封測廠自行跨入中段製程、研發人才流失、地緣政治與美國關稅政策、客戶產線轉移、匯率、設備與化學品供應、環保與用水用電限制。2027 至 2028 年展望多屬公司法說與產業趨勢推估，具前瞻性不確定性。

Supply Chain

Upstream
  • 環球晶圓股份有限公司 6488 矽晶圓上游供應商之一，屬再生晶圓與測試晶圓產業鏈上游材料來源；未確認為昇陽半導體直接供應商。
  • 台灣勝高科技股份有限公司 3532 矽晶圓上游供應商之一，屬半導體矽晶圓材料來源；未確認為昇陽半導體直接供應商。
  • 崇越科技股份有限公司 5434 半導體材料與化學品通路商，可能對應公司原物料類別如拋光液、化學品、研磨耗材等；未確認為直接供應商。
  • 均豪精密工業股份有限公司 5443 精密設備與自動化相關公司，同時為昇陽半導體主要股東之一；公司法說提及與策略夥伴共同開發 CMP 與 AOI 機台，但未逐名確認供應商。
  • Applied Materials, Inc. 美國上市半導體設備商，產業鏈上游設備供應商；MoneyDJ 稱其為主要股東之一但需以最新股東名冊確認。
  • 特用化學品、拋光液、研磨墊片、膠帶、矽晶圓供應商 年報與 MoneyDJ 整理指出重要原物料包含 8 吋膠帶、粗拋液、精拋液、8 吋 wafer、12 吋研磨墊片等；多數實際供應商未公開揭露。
Downstream
  • 台灣積體電路製造股份有限公司 2330 晶圓代工龍頭；MoneyDJ 指稱公司主要客戶為台積電，且公司年報稱客戶主要為本地晶圓代工業者與全球知名半導體大廠。
  • 聯華電子股份有限公司 2303 台灣晶圓代工公司，屬公司再生晶圓與晶圓薄化服務的典型下游客戶類型；年報未逐名揭露為直接客戶，亦列於晶圓薄化競爭者比較。
  • 世界先進積體電路股份有限公司 5347 台灣晶圓代工公司，屬再生晶圓與晶圓薄化服務的潛在下游應用端；年報同時列為晶圓薄化競爭者之一。
  • 力積電股份有限公司 6770 台灣晶圓代工公司，屬再生晶圓需求相關下游；未由公司逐名揭露為直接客戶。
  • 德州儀器 Texas Instruments 美國上市 IDM；公司網站揭露 2026 年 3 月榮獲德州儀器公司 2025 年度供應商卓越獎，顯示具供應商關係。
  • 國際 IDM 與 IC 設計公司 公司年報稱晶圓薄化主要服務國內外知名 IDM 及 IC 設計公司，應用於電源管理、功率元件、車用、工業與消費電子；具體名單多未公開。

Competitors

  • 辛耘企業股份有限公司 3583 台灣上市櫃半導體設備與再生晶圓業者，年報列為晶圓再生代工主要競爭者。
  • 中國砂輪企業股份有限公司 1560 台灣上市公司，研磨品、切削工具與再生晶圓業者，年報列為晶圓再生代工競爭者。
  • 頎邦科技股份有限公司 6147 台灣上櫃封測廠，年報列為晶圓薄化代工服務競爭者之一。
  • 微矽電子股份有限公司 8162 台灣上市創新板公司，年報列為晶圓薄化與測試相關競爭者之一。
  • 聯華電子股份有限公司 2303 台灣上市晶圓代工廠，年報列為晶圓薄化加工競爭者之一；同時也可能是再生晶圓產業鏈下游類型。
  • 世界先進積體電路股份有限公司 5347 台灣上櫃晶圓代工廠，年報列為晶圓薄化加工競爭者之一。
  • 微鑫電子股份有限公司 未上市公司，提供矽晶圓薄化與背金鍍膜服務，年報列為晶圓薄化競爭者。
  • 宜錦科技股份有限公司 未上市公司，宜特科技旗下晶圓薄化與測試廠，年報列為晶圓薄化競爭者；母公司宜特科技為台股 3289。
  • RS Technologies／艾爾斯 日本相關再生晶圓供應商，年報列為台灣再生晶圓市場主要供應商或潛在競爭者；非台股掛牌。
  • HAMADA 日本再生晶圓供應商，年報列為日系 Reclaim wafer 潛在競爭者；非台股掛牌。
  • 杭州士蘭微電子 中國功率半導體與晶圓代工業者，年報列為晶圓薄化代工競爭者；非台股掛牌。
Sources（19）

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.