KUALA LUMPUR (Oct 24): ViTrox Corporation Bhd (KL:VITROX) rose to its highest in more than a year as investors cheered strong results of the semiconductor services firm.
Net profit for the nine months ended Sept 30, 2025 accounted for about 77% of the consensus’ full-year forecasts, putting the company that mainly provides automated test equipment on the track to make RM128 million by the end of the year. Analysts, however, are cautious of further gains in its stock price.
"At the current share price, we believe the market has largely priced in sector optimism [and] stronger operational delivery” as well as the renewal of its pioneer status that still represents “a de-rating risk should it not materialise”, Hong Leong Investment Bank cautioned.
Shares of ViTrox climbed as much as 28 sen or over 6% to RM4.80 on Friday, its highest since June 2024. The stock then eased off highs and was trading at RM4.66 at 12pm after more than three million shares changed hands. At the last price, the company had a market capitalisation of RM8.8 billion.
ViTrox has nearly doubled from its April lows during the global market turmoil while quarterly revenue jumped to record highs as clients rushed their orders to beat US tariff deadlines.
There are now five ‘buy’ and five ‘sell’ calls out of 13 analysts covering the stock. The rest are on ‘hold’ recommendations. The average target price is RM3.97, according to Bloomberg, implying potential decline of 14% from the last price.
For Apex Securities, which maintained its ‘buy’ call on ViTrox, the outlook appears strong with improvement in the ratio of new orders to completed sales, signalling sustained demand momentum in the coming quarter.
“We believe ViTrox is on the cusp of a strong earnings upcycle” over the next one to two years, driven by its expanding new product pipeline that is expected to boost sales volume and average selling prices, the research house added.