Stock With Momentum: JF Technology

JF Technology Bhd (+ve)
TRADING of shares in JF Technology Bhd (fundamental: 2.5/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the second time this year.

The counter closed down 11 sen or 5.73% at RM1.81 yesterday, with some 1.55 million shares done, almost six times higher than its 200-day average volume of 281,098 shares.

The group designs and manufactures high-performance test sockets and other materials for semiconductor giants.

For the second quarter ended Dec 31, 2019, JF Technology registered a net profit of RM1.14 million, up 34% from the RM1.04 million it achieved for the same period a year ago, while revenue grew 3.53% to RM6.07 million from RM5.87 million.

It said the better earnings were due to higher sales and the over provision of legal fees arising from a discount received from the final legal fees bill incurred for the material litigation with Johnstech International Corp in the US.