Taiwan-listed · Semi back-end · Memory OSAT (No.5)
Powertech Technology (PTI)
Powertech is the world's #5 OSAT (5.5% share, $2.28B revenue) specialized in memory back-end, holding expertise in memory IC packaging (BGA, MCP, HBM stacking) unlike general logic OSATs. Contract-assembling and testing memory for Micron, Samsung and SK hynix, its revenue ties directly to their volume and utilization, and HBM stacking raises both back-end difficulty and pricing. Watch HBM back-end penetration and the memory cycle.
6239.TW Updated Jul 12, 2026 4 AI consumers· 2 recurring
Per the valuechain.wiki graph, Powertech Technology (PTI) is directly linked to 5 companies (2 supply, 3 revenue relationships) and reaches 13 companies within two hops; the links are backed by 6 dated sources, 1 of them primary filings (as of 2026-07-12).
Financials & Segments
- Total revenue · FY2025 revenue NT$74.93B (~$2.38B), net profit NT$7.22B, EPS NT$7.48
- Segments · World No.5 memory package/test OSAT
Revenue from
- Micron Technology High confidence
Contract packaging/test for Micron memory — a high-momentum customer among the memory three, tied to volume.Confirms EN DigiTimes Published Apr 29, 2026: Powertech lifts 2026 capex to US$1.6bn, targets AI packaging growthMentions EN TrendForce Published Nov 10, 2025: TSMC CoWoS crunch pushes US AI chipmakers to Powertech through 2027 - SK hynix Medium confidence
Contract back-end for SK hynix memory — HBM stacking raises difficulty and pricing, a key demand.Confirms EN DigiTimes Published Apr 29, 2026: Powertech lifts 2026 capex to US$1.6bn, targets AI packaging growth - Samsung Electronics Medium confidence
Contract packaging/test for Samsung memory — out-of-fab back-end, so Samsung's memory volume is the revenue.Confirms EN DigiTimes Published Apr 29, 2026: Powertech lifts 2026 capex to US$1.6bn, targets AI packaging growth
Pays to
- Advantest Medium confidence
Sources test/bonding equipment from Advantest — back-end capacity expansion runs into equipment lead-time bottlenecks.Confirms EN DigiTimes Published Apr 29, 2026: Powertech lifts 2026 capex to US$1.6bn, targets AI packaging growth - Kulicke & Soffa Medium confidence
Sources bonding equipment from Kulicke & Soffa — upstream tooling for advanced-packaging (HBM stacking) capacity.Confirms EN DigiTimes Published Apr 29, 2026: Powertech lifts 2026 capex to US$1.6bn, targets AI packaging growth - raw materials & R&D (undisclosed) Low confidence
Materials and R&D (undisclosed).
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| Marvell | lead2 | +84.6 | -57.5 | +63.7 | +83.8 | -22.8 | +163.4 |
| AMD | lead2 | +56.9 | -55 | +127.6 | -18.1 | +77.3 | +123 |
| Everpure (formerly Pure Storage) | lead2 | +44 | -17.8 | +33.3 | +72.3 | +9.1 | +48.5 |
| NVIDIA | lead2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +23.7 |
| Apple | lead2 | +34.6 | -26.4 | +49 | +30.7 | +9.1 | +18 |
| Broadcom | lead2 | +56.5 | -13.3 | +104.2 | +110.5 | +50.6 | +3.8 |
| Qualcomm | lead2 | +22.3 | -38.6 | +35.1 | +8.3 | +13.8 | +0.2 |
| Phison Electronics | lead2 | +26.8 | -10.7 | +45.1 | -6.7 | +418.3 | -14.7 |
| Micron Technology | lead1 | +24.2 | -45.9 | +71.9 | -1 | +240.2 | +256.4 |
| SK hynix | lead1 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +81.6 |
| Samsung Electronics | lead1 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +59.7 |
| Powertech Technology (PTI) | node | +4.8 | -7.5 | +86 | -16 | +128.6 | +11 |
| Kulicke & Soffa | benef1 | +92.4 | -25.8 | +25.5 | -13.2 | -0.3 | +80 |
| Advantest | benef1 | +17 | -2.3 | +155.7 | +49.5 | +196 | +29.9 |
YTD as of 2026-09-04 · source: Yahoo Finance
Powertech Technology (PTI) operates across Taiwan-listed, Semi back-end, Memory OSAT (No.5). After a spike of +86% in 2023, gains cooled to +128.6% in 2025 and +11% in 2026. The supply side (avg +55%) has moved harder than the stock (+11%). That is the classic bottleneck pattern: supplier volume leverage is being priced before this layer's own margin. Among connected nodes the furthest ahead is Micron Technology (+256.4%) and the furthest behind is Advantest (+29.9%). If chain logic explains the gap, the laggard is the next propagation candidate; if not, the link itself deserves a second look. Watch HBM back-end penetration and the memory cycle.
Analysis generated from returns as of 2026-09-04Analyst ratings
Consensus: Buy 2 · Hold 0 · Sell 0 · Avg. target NT$375 · Price NT$276.5 (09-04) · Upside +36%