Advanced Semiconductor Engineering, Inc.'s (ASE) common stock price has appreciated significantly since our 4Q 08 and FY 2008 update report reflecting broader index movements during the period and an improved business outlook for the company. On 06 May 2009 the company announced an 11.3% m-o-m increase (-27.1% y-o-y) in April 2009 total net revenues with the expectation that it will report a more than 40% q-o-q increase in total net revenues in…

Globally, semiconductor companies are experiencing severe downward top-line pressure as a result of demand shortfall. Semiconductor Assembly and Test Services (SATS) companies have been no exception to these conditions and have underperformed the broader industry growth rate in FY 2008. FY 2009 is expected to be yet another difficult year for the industry amidst uncertain macroeconomic conditions and collapsing demand pattern and the industry is expected to see…

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Advanced Semiconductor Engineering, Inc.’s (ASE) common stock has appreciated significantly since our 3Q 08 update report, reflecting a general improvement in investors’ confidence due to various worldwide infrastructural stimulus packages. Nevertheless, our medium term outlook for ASE remains cautious in light of a sharp downtrend in consumer spending. Furthermore, on 07 January 2009, ASE announced a 36.8% y-o-y and 29.1% q-o-q fall in…