KUALA LUMPUR (Sept 22): Shares in ViTrox Corporation Bhd (KL:VITROX) hit their highest level since the company’s listing on the ACE Market in 2005 on Tuesday, driven by its strong growth prospects amid the AI infrastructure boom.

ViTrox designs & manufactures vision inspection system & handler for back-end semiconductor industry. 

In a The Edge Malaysia weekly’s Sept 21-Sept 27 issue, its co-founder and managing director Datuk Chu Jenn Weng said the company’s numbers will double this year, with strong growth momentum expected to continue over the next few years.

The Penang-based automated test equipment maker’s shares charted an all-time high of RM10.08 before closing up 21 sen or 2.2% at RM10 on Tuesday, giving the company a market capitalisation of a little under RM19 billion.

The share price remains below the consensus 12-month target price of RM10.67, while the highest 12-month target price is RM13.

The majority of analysts covering the company have a “buy” call on the stock, with 11 “buy” calls, two “hold” calls and one “sell” call.

Analysts noted that ViTrox has positioned itself as a key beneficiary of AI infrastructure spending.

Research houses have also upgraded their earnings forecasts, with Apex Securities raising its net profit forecasts for FY2026, FY2027 and FY2028 to RM275.6 million, RM362.4 million and RM408.2 million, respectively, citing sustained AI infrastructure demand.

CIMB Securities noted that ViTrox’s 1HFY2026 results exceeded expectations, coming in at more than 60% of its full-year consensus estimate. The research house reiterated its “buy” rating with a target price of RM10.00 and raised its FY2026–FY2028 earnings per share estimates by 28% to 37%, citing expanding order books, a favourable product mix and recurring service income.

ViTrox saw its revenue double year-on-year in the second quarter ended June 30 (2QFY2026) to RM375 million from RM183 million in the same period last year. Net profit for the quarter jumped to RM85.04 million, bringing the company’s cumulative net profit for the first half of 2026 to RM136.24 million, surpassing its full-year net profit of RM133.18 million in 2025.

Chu said the optimism surrounding the company is understandable, given that, much like its peers in the semiconductor-related industry, ViTrox is operating at full capacity and expanding to cope with the surge in demand.