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PWM IC firm M3Tek to debut on Taiwan Stock Exchange

Power management IC (PMIC) supplier M3 Technology (M3Tek) plans to have its stock listed on the Taiwan Stock Exchange in the second quarter of 2022.

Speaking at its pre-listing performance presentations on April 14, M3Tek pointed out that high-end PMICs for Wi-Fi, SSD (solid-state drive), and USB Type-C (USB-C) applications are its main revenue drivers. The company emphasized that all these applications have long-term growth potential.

Founded in 2010, M3Tek boasts an R&D team led by a general manager with experiences at major analog IC companies including Maxim and Texas Instruments. By acquiring the PMIC department from its major shareholder ITE Tech, the company has established a good technology foundation.

M3Tek posted consolidated revenues of NT$1.055 billion (US$36.248 million) for 2021, increasing 65.88% on year, with a gross margin of 50.2% and an operating profit of NT$349 million.

About 88% of M3Tek's PMICs are designed for telecommunications and USB-C applications, while the other 12% are for applications of SSD, home appliances, security monitors, and other consumer devices.

M3Tek reportedly has received orders for its telecommunications products from Broadcom, Qualcomm, and Realtek Semiconductor, and that it is maintaining relationships with its end assembly partners.

The company said it will continue to offer Wi-Fi 5, Wi-Fi 6/6E, and Wi-Fi 7 products in the future.

Besides its existing 8-inch foundry support, M3Tek said it is developing products using 12-inch wafers, and expect to enter volume production in the fourth quarter of 2022 or early 2023.

Industry observers noted that M3Tek has been more active than other Taiwan-based PMIC suppliers in adopting 12-inch wafers.

By DIGITIMES

Link:https://www.digitimes.com/news/a20220415PD209.html?mod=3&q=IC

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