Non-GAAP (or generally accepted accounting principles) earnings per share (EPS) stood at 13 US cents, again surpassing market expectations.
KGI’s report on Aug 2 also comes after AEM announced that it had settled a legal dispute with Advantest America and Advantest Test Solutions. The company will pay US$9 million in the 2QFY2023 and US$11 million in the 3QFY2024 with internal resources. The payment is expected to have a “minimal impact” on AEM’s operations.
The brokerage has also pegged AEM's entry price at $3.81 with a stop-loss target of $3.63.
As at 3.25pm, shares in AEM are trading 2 cents lower or 0.53% down at $3.73.
