Globetronics earnings forecast remains positive

KUALA LUMPUR: Maybank IB Research has cut its target price for Globetronics Technology Bhd to RM2.44 from RM2.80 after revising its earnings forecast for the company.

This followed after Globetronics’ earnings for the third quarter ended Sept 30, 2021 (Q3’21) came in lower than expected on lower volume loading for its gesture sensor products and the gradual winding-down of its quartz crystal and timing devices (QCTD) business.