KGI Research Singapore

Singapore's leading broker offering Futures, FX, Equities and Wealth Management.

Technical Analysis – 5 June 2025

United States | Singapore | Hong Kong | Earnings

Texas Instruments Inc. (TXN US)

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  • Shares closed at a high since March 2025. 5dEMA recently crossed the 200dEMA and the 20dEMA is about to cross the 200dEMA.
  • MACD just turned positive, RSI is constructive.
  • Long – Entry 188, Target 208, Stop 178
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ON Semiconductor Corp. (ON US)

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  • Shares closed at a high since February 2025 with a surge in volume. 20dEMA just crossed the 50dEMA.
  • MACD just turned positive, RSI is constructive.
  • Long – Entry 48, Target 56, Stop 44

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Q&M Dental Group Singapore Ltd. (QNM SP)

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  • Shares closed at a 52-week high with a surge in volume.
  • MACD is positive, RSI is at an overbought level.
  • Buy – Entry 0.370, Target 0.400, Stop 0.355
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SIA Engineering Co Ltd. (SIE SP)

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  • Shares closed at a 52-week high with a surge in volume. 50dEMA recently crossed the 200dEMA.
  • MACD is positive, RSI is at an overbought level.
  • Buy – Entry 2.80 Target 3.00, Stop 2.70

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CSSC Offshore & Marine Engineering Group Co Ltd (317 HK)

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  • Shares closed at a seven-month high above the 5dEMA with rising volume.
  • MACD is positive while RSI is at an overbought level.
  • Long Entry 12.8 Target 13.8, Stop 12.3




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JL Mag Rare-Earth Co Ltd (6680 HK)
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  • Shares closed at a 52-week high above the 5wEMA with rising volume.
  • RSI is constructive and MACD is positive.
  • Long – Entry 16.4, Target 17.8, Stop 15.7


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Dollar Tree, Inc. (DLTR)

  • 1Q25 Revenue: $4.64B, +11.3% YoY, beat estimates by $0.11B
  • 1Q25 Non-GAAP EPS: $1.26, beat estimates by $0.05
  • 2Q25 Guidance: Expect net sales growth to be at the higher end of the range of 3.0% to 5.0%; Expect adjusted EPS to be down as much as 45.0% to 50.0% YoY.
  • FY25 Guidance: Expect net sales to be between $18.5bn to $19.1bn, midpoint of $18.8bn below consensus of $18.95; Expect adjusted EPS to be between $5.15 to $5.65, midpoint of $5.40 above consensus of $5.21.
  • Comment: Dollar Tree delivered stronger-than-expected 1Q25 results but cautioned about near-term headwinds from tariffs. Net sales rose 11.3% YoY, supported by a 2.5% increase in customer traffic, including gains from higher-income shoppers. Same-store sales grew 5.4%, outpacing the consensus estimate of 4.0%. Despite the solid performance, management warned of “some earnings volatility” ahead due to elevated tariffs and rising labor costs. For the current quarter, the company expects earnings to decline 45%–50% YoY, citing a $70 million increase in cost of goods sold stemming from the timing of some imports affected by the U.S. tariff hike on Chinese goods to 145%. Looking ahead, Dollar Tree anticipates a recovery in the second half of the year and reiterated its full-year guidance. The company also raised its FY25 outlook to reflect planned share repurchases, signaling confidence in its long-term growth trajectory. 2Q25 recommended trading range: $80 to $100. Neutral Outlook.

美元树 (DLTR)

  • 25财年第一季营收:46.4亿美元,同比增长11.3%,超出预期1.1亿美元
  • 25财年第一季Non-GAAP每股收益:1.26美元,超出预期0.05美元
  • 25财年第二季指引:预计净销售额增长将达到3.0%至5.0%范围的上限;预计调整后每股收益同比下降45.0%至50.0%。
  • 25财年指引:预计净销售额在185亿美元至191亿美元之间,中点为188亿美元,低于市场普遍预期的189.5亿美元;预计调整后每股收益在5.15美元至5.65美元之间,中点为5.40美元,高于市场普遍预期的5.21美元。
  • 短评:美元树公布了超出预期的25财年第一季度业绩,但提醒关税可能带来近期阻力。净销售额同比增长11.3%,得益于客流量2.5%的增长,其中包括来自高收入购物者的增长。同店销售额增长5.4%,超过市场普遍预期的4.0%。尽管业绩稳健,管理层仍警告称,由于关税上涨和劳动力成本上升,未来将出现“一些盈利波动”。对于当前季度,公司预计收益同比下降45%–50%,理由是受美国对中国商品关税上调至145%影响的部分进口商品时机导致销售成本增加7,000万美元。展望未来,公司预计下半年将出现复苏,并重申了全年业绩指引。公司还上调了25财年展望,以反映计划中的股票回购,这表明公司对其长期增长轨迹充满信心。25财年第二季建议交易区间:80美元至100美元。中性前景。

Mongodb Inc. (MDB)

  • 1Q26 Revenue: $549.01M, +21.9% YoY, beat estimates by $21.53M
  • 1Q26 Non-GAAP EPS: $1.00, beat estimates by $0.34
  • 2Q26 Guidance: Expect total revenue to be between $548M to $553M, non-GAAP income from operations to be $55M to $59M and non-GAAP net income per share to be $0.62 to $0.66.
  • FY26 Guidance: Expect total revenue to be between $2.25B to $2.29B, non-GAAP income from operations to be $267M to $287M and non-GAAP net income per share to be $2.94 to $3.12.
  • Share buyback: Announced an increase to its share repurchase program, under which the company may repurchase up to an additional $800M of common stock. This is in addition to the $200M buyback announced last quarter, bringing the total authorization to $1B.
  • Comment: MongoDB reported a strong first quarter, with revenue rising 22% YoY to US$549mn, surpassing guidance. Its cloud-native platform, Atlas, remained the key growth driver with a 26% increase, now accounting for 72% of total revenue. The company posted a non-GAAP operating income of US$87mn, 16% margin and added over 2,600 customers, the highest in more than six years, bringing the total to over 57,100. Growth was broad-based, with strong traction in the self-serve channel, highlighting MongoDB’s appeal among developers building AI-powered applications. Retention remained strong, reinforcing the platform’s critical role in modern application stacks. The company saw continued migration from legacy systems, with customers switching to MongoDB Atlas to improve scalability and performance. Its AI capabilities were significantly boosted by the acquisition of Voyage AI, which delivers high-quality, domain-optimized embeddings. The release of Voyage 3.5 improved embedding performance and reduced storage costs by over 80%, reinforcing MongoDB’s technical and cost advantage. Financially, the company remains solid, with US$2.5bn in cash, US$106mn in free cash flow, and an expanded US$1bn share repurchase program. MongoDB raised its full-year revenue outlook to US$2.25-2.29bn and increased its operating margin guidance to 12%. Looking ahead, MongoDB is well-positioned to lead as demand for AI-native and data-driven applications accelerates. Its unified, developer-friendly platform, combining real-time analytics, intelligent search, and vector-based retrieval, offers a scalable, efficient foundation for modern applications. Supported by strong fundamentals, strategic investments, and growing market adoption, MongoDB is confident in its ability to sustain long-term growth and innovation. 2Q26 recommended trading range: $210 to $250. Positive Outlook.

Mongodb Inc. (MDB)

  • 26财年第一季营收:5.4901亿美元,同比增长21.9%,超出预期2,153万美元
  • 26财年第一季Non-GAAP每股收益:1.00美元,超出预期0.34美元
  • 26财年第二季指引:预计总营收在5.48亿美元至5.53亿美元之间,Non-GAAP运营收入在5,500万美元至5,900万美元之间,Non-GAAP每股净收益在0.62美元至0.66美元之间。
  • 26财年指引:预计总营收在22.5亿美元至22.9亿美元之间,Non-GAAP运营收入在2.67亿美元至2.87亿美元之间,Non-GAAP每股净收益在2.94美元至3.12美元之间。
  • 股票回购:宣布增加股票回购计划,公司可额外回购至多8亿美元的普通股。这笔金额是在上季度宣布的2亿美元回购之外的,使总授权回购金额达到10亿美元。
  • 短评:MongoDB公布了强劲的第一季度业绩,营收同比增长22%至5.49亿美元,超出指引。其云原生平台Atlas仍然是关键增长动力,增长26%,目前占总营收的72%。公司公布的Non-GAAP运营收入为8700万美元,利润率为16%,并新增客户超过2600个,创下六年多来的新高,使客户总数超过57100个。增长范围广泛,自助服务渠道表现出强劲的吸引力,凸显了MongoDB在构建AI驱动型应用的开发人员中的吸引力。客户留存率保持强劲,进一步巩固了该平台在现代应用堆栈中的关键作用。公司看到客户持续从传统系统迁移,转向MongoDB Atlas以提高可扩展性和性能。通过收购Voyage AI,其AI能力得到显著提升,Voyage AI提供高质量、领域优化的嵌入。Voyage 3.5的发布改善了嵌入性能,并将存储成本降低了80%以上,进一步增强了MongoDB的技术和成本优势。在财务方面,公司保持稳健,拥有25亿美元现金、1.06亿美元自由现金流,并扩大了10亿美元的股票回购计划。MongoDB上调了全年营收展望至22.5亿美元-22.9亿美元,并将运营利润率指引提高到12%。展望未来,随着对AI原生和数据驱动型应用需求的加速,MongoDB已做好充分准备引领市场。其统一、开发人员友好的平台,结合了实时分析、智能搜索和基于向量的检索,为现代应用提供了可扩展、高效的基础。在强大的基本面、战略投资和不断增长的市场采纳的支持下,MongoDB对其维持长期增长和创新的能力充满信心。26财年第二季建议交易区间:210美元至250美元。积极前景。

PVH Corp. (PVH)

  • 1Q25 Revenue: $1.98B, +1.5% YoY, beat estimates by $50M
  • 1Q25 Non-GAAP EPS: $2.30, beat estimates by $0.05
  • 2Q25 Guidance: Expect revenue to increase low single digits compared to the 2Q24, flat to increase slightly on a constant currency basis. EPS to be in a range of $1.85 to $2.00 on a non-GAAP basis compared to $2.80 on a GAAP basis and $3.01 on a non-GAAP basis in 2Q24, projection includes an estimated negative unmitigated impact related to the tariffs currently in place for goods coming into the U.S. of approximately $0.20 per share.
  • FY25 Guidance: Reaffirmed outlook of flat to increase slightly, flat to increase slightly on a constant currency basis. EPS projected to be in a range of $10.75 to $11.00 on a non-GAAP basis compared to a range of $12.40 to $12.75 previously. Operating margin projected to be approximately 8.5% on a non-GAAP basis.
  • Comment: PVH Corp reported a better-than-expected first quarter results, with EPS of US$2.30 and revenue growing 2% YoY to US$1.98bn, surpassing guidance. Its performance was driven by solid growth in the Americas and EMEA regions, particularly within the Tommy Hilfiger brand, while Calvin Klein remained flat and APAC saw a 13% decline due to macroeconomic challenges and timing shifts in seasonal demand. Despite the strong quarter, the company cut its full-year EPS forecast to US$10.75-US$11.00, down from US$12.40-US$12.75, citing an uncertain global macroeconomic environment, U.S. tariffs, and elevated promotional activity. Gross margin declined to 58.6% from 61.4% YoY, reflecting higher freight costs, product delivery delays, and a less favourable channel mix. The company reaffirmed its flat-to-slight revenue growth outlook but reduced its non-GAAP operating margin forecast to 8.5%, down from 10% in 2024. PVH also completed a US$500mn accelerated share repurchase in Q1 but does not expect further buybacks in 2025. While demand remains resilient in key Western markets and brand momentum continues for Calvin Klein and Tommy Hilfiger, challenges in Asia-Pacific, elevated inventory levels, and rising cost pressures will likely weigh on near-term profitability. Tariff-related headwinds alone are expected to reduce FY25 EPS by approximately US$1.05, only partially offset by mitigation efforts and minor currency tailwinds. Management is taking proactive steps to strengthen the second half, including cost-saving initiatives under its “Growth Driver 5” program and increased marketing investment to drive brand equity and consumer engagement. However, the lowered earnings guidance suggests these efforts may take time to materially impact margins. 2Q25 recommended trading range: $65 to $85. Neutral Outlook.

PVH Corp. (PVH)

  • 25财年第一季营收:19.8亿美元,同比增长1.5%,超出预期5,000万美元
  • 25财年第一季Non-GAAP每股收益:2.30美元,超出预期0.05美元
  • 25财年第二季指引:预计营收较24财年第二季呈低个位数增长,按固定汇率计算持平或略有增长。Non-GAAP每股收益预计在1.85美元至2.00美元之间,而24财年第二季按GAAP计算为2.80美元,按Non-GAAP计算为3.01美元。该预测包括目前对进入美国商品征收关税的未缓解的负面影响,每股约0.20美元。
  • 25财年指引:重申营收持平或略有增长的展望,按固定汇率计算持平或略有增长。Non-GAAP每股收益预计在10.75美元至11.00美元之间,而此前为12.40美元至12.75美元。Non-GAAP营业利润率预计约为8.5%。
  • 短评:PVH Corp公布了超出预期的第一季度业绩,每股收益2.30美元,营收同比增长2%至19.8亿美元,超出指引。其业绩得益于美洲和欧洲、中东和非洲地区(特别是Tommy Hilfiger品牌)的强劲增长,而Calvin Klein持平,亚太地区则因宏观经济挑战和季节性需求时间错位而下降13%。尽管本季度表现强劲,但公司将全年每股收益预测从12.40美元-12.75美元下调至10.75美元-11.00美元,理由是全球宏观经济环境不确定、美国关税和促销活动增加。毛利率同比从61.4%下降至58.6%,反映出运费成本上升、产品交付延迟以及渠道组合不利。公司重申了营收持平或略有增长的展望,但将其Non-GAAP营业利润率预测下调至8.5%,低于2024年的10%。PVH还在第一季度完成了5亿美元的加速股票回购,但预计2025年不会有进一步的回购。尽管关键西方市场的需求保持弹性,且Calvin Klein和Tommy Hilfiger的品牌势头持续,但亚太地区的挑战、库存水平升高和成本压力上升可能会对近期盈利能力造成压力。仅与关税相关的负面影响预计将使25财年每股收益减少约1.05美元,仅部分被缓解措施和微小的汇率顺风抵消。管理层正在采取积极措施以加强下半年,包括通过其“增长驱动力5”计划实施的成本节约举措,以及增加营销投资以提升品牌资产和消费者参与度。然而,下调的盈利指引表明这些努力可能需要时间才能对利润率产生实质性影响。25财年第二季建议交易区间:65美元至85美元。中性前景。