Morningstar sets TWD 480 fair value for Nanya Technology stock

Published on 10/21/2026 at 11:30 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Third-quarter revenue reached TWD 133.65 billion, up 61.90 percent quarter over quarter. Nanya Technology stock stands against Morningstar's TWD 480 fair value.

Margins and valuation reset

Nanya Technology reported TWD 133.65 billion in third-quarter revenue on October 12, 2026.
Gross margin reached 85.7 percent in the third quarter of 2026.
Morningstar assigned a TWD 480 fair value estimate on October 16, 2026.

Nanya Tech, TW0002408002, Illustration mit AI erstellt.

Nanya Tech (TW0002408002) reported TWD 133.65 billion in third-quarter revenue on October 12, 2026, up 61.90 percent from the second quarter, according to MarketScreener. On October 16, 2026, Morningstar initiated coverage with a TWD 480 fair value estimate.

Quarterly profit sets the tone

The third-quarter figures show how sharply pricing power changed Nanya's earnings profile. Gross profit reached TWD 114.48 billion and gross margin rose to 85.7 percent, compared with 79.5 percent in the second quarter of 2026, according to MarketScreener. Operating income was TWD 106.89 billion, producing an 80.0 percent operating margin.

Net income reached TWD 87.63 billion in the third quarter of 2026, compared with TWD 50.19 billion in the second quarter. Earnings per share rose to TWD 25.40 from TWD 14.66, while first-nine-month net income reached TWD 163.88 billion.

Three dates and three figures

On September 18, 2026, Nanya Technology acquired machinery equipment for TWD 1.06 billion. On October 12, 2026, it reported TWD 133.65 billion in third-quarter revenue. On October 16, 2026, Morningstar published its TWD 480 fair value estimate. The dated sequence links equipment spending, operating results and valuation in one investor narrative.

What comes next for capacity?

The next disclosed milestones are equipment move-in in the first quarter of 2027 and customer qualification of 1C in the first quarter of 2027, both described in the October 12 results release carried by MarketScreener. The company said its new fab is planned to ramp toward 30,000 wafer starts per month by the end of 2028 and 50,000 by the end of 2030.

Valuation meets execution

Nanya Technology's investment case now rests on whether elevated DRAM pricing can support the planned capacity expansion. Morningstar's TWD 480 fair value estimate provides a dated valuation reference, while the third-quarter margin of 85.7 percent sets a demanding operating benchmark.