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Key stakeholders' sales prompt 'sell' call on UMS

Profitability may not be sustainable in the year ahead: OSK DMG

Published Tue, Jun 10, 2014 · 10:00 PM
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SHARE sales in semiconductor company UMS Holdings by two key stakeholders - founder and chief executive officer Andy Luong and a single main customer - have prompted a downgrade of its stock to "sell" by research firm OSK DMG.

In a report yesterday, OSK DMG lowered its target price for UMS to 47 cents from 70 cents.

The stock fell 10 cents, or 14.4 per cent, yesterday to 59.5 cents with about 16 million shares changing hands.

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