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 | +177.8 |
| AMD | lead2 | +56.9 | -55 | +127.6 | -18.1 | +77.3 | +160.5 |
| Everpure (formerly Pure Storage) | lead2 | +44 | -17.8 | +33.3 | +72.3 | +9.1 | +18.4 |
| Apple | lead2 | +34.6 | -26.4 | +49 | +30.7 | +9.1 | +16.2 |
| Broadcom | lead2 | +56.5 | -13.3 | +104.2 | +110.5 | +50.6 | +16 |
| NVIDIA | lead2 | +125.5 | -50.3 | +239 | +171.2 | +38.9 | +13.3 |
| Qualcomm | lead2 | +22.3 | -38.6 | +35.1 | +8.3 | +13.8 | +11.7 |
| Phison Electronics | lead2 | +26.8 | -10.7 | +45.1 | -6.7 | +418.3 | -6 |
| Micron Technology | lead1 | +24.2 | -45.9 | +71.9 | -1 | +240.2 | +243.3 |
| SK hynix | lead1 | -0.4 | -25.6 | +53.9 | +48.6 | +361.1 | +140.3 |
| Samsung Electronics | lead1 | -9 | -14.2 | +20.9 | -26.4 | +212.9 | +77.9 |
| Powertech Technology (PTI) | node | +4.8 | -7.5 | +86 | -16 | +128.6 | +26 |
| Kulicke & Soffa | benef1 | +92.4 | -25.8 | +25.5 | -13.2 | -0.3 | +150.1 |
| Advantest | benef1 | +17 | -2.3 | +155.7 | +49.5 | +196 | +17.1 |
YTD as of 2026-07-09 · source: Yahoo Finance
Powertech's thesis is memory-specialized back-end outsourcing leverage. Unlike general logic OSATs, its expertise in memory IC packaging (BGA, MCP, HBM stacking) ties revenue directly to Micron, Samsung and SK hynix memory shipments and utilization. HBM stacking sees yield and difficulty spike as layers rise, growing both pricing and volume as structural demand — but with customers narrowed to the memory three, it loads cycle swings directly, with volume leverage attaching first in upturns. Risks are the memory cycle and customer concentration. Graph propagation: Micron/Samsung/SK hynix memory volume pulls demand, while Advantest and K&S equipment are the upstream capacity bottleneck.
Analysis generated from returns as of 2026-07-09Analyst ratings
Consensus: Buy 2 · Hold 0 · Sell 0 · Avg. target NT$375 · Price NT$320 (07-09) · Upside +17%