---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/100000000861076.md"
description: "🦎 ANALYST WATCH | 19 AUGUST 2026558 UMS INTEGRATIONWHAT THE ANALYST SAYSRHB maintains BUY, raising its target price to S$3.69 from S$3.37, implying 36 percent upside, after a first half earnings beat. The broker lifted its FY26 earnings forecast by 13 percent and FY27-28 by 9 percent. First half revenue rose 25 percent year on year to S$157 million, and net profit jumped 66 percent to S$33 million, already 60 percent of RHB's prior full year forecast. Semiconductor revenue grew 25 percent, aerospace grew 37 percent. Gross margin dipped in the first quarter on lower margin new customer orders but recovered to 54.2 percent by the second quarter, and EBIT margin improved to 23 percent. UMS declared a second interim dividend of 1 cent, taking first half dividends to 2 cents, in line with expectations. RHB's growth thesis rests on accelerating AI driven semiconductor capital spending and a new major customer that kept increasing orders through the second quarter. The broker floats a scenario where higher AI chip packaging volumes could help UMS reach that customer's own stated S$300 million annual order target sooner, this is RHB's own projection, not confirmed company guidance. The target price implies a forecast FY27 dividend yield of only about 1.1 percent, this is a growth and valuation call, not an income one. Main risks flagged are a delayed semiconductor recovery and a slower than expected customer ramp up.NOTEFor the full report, check RHB's published research or your broker platform. Not financial advice. Iggy's Forensic Compliance Standards apply."
datetime: "2026-08-19T12:29:40.000Z"
locales:
  - [en](https://longbridge.com/en/topics/100000000861076.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/100000000861076.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/100000000861076.md)
author: "[TheInvestingIguana](https://longbridge.com/en/profiles/22116548.md)"
generator: "portal-rs"
---

# 🦎 ANALYST WATCH | 19 AUGUST 2026558 UMS INTEGRATIO…


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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**