KUALA LUMPUR (July 5): Inari Amertron Bhd saw strong upward momentum today that pushed it to its one-month intraday high of RM2.18, a 5 sen or 2.35% gain.

At 3.28pm, it saw 4.79 million shares exchanged. In the past 200 days, the stock saw an average 5.06 million shares traded.

According to Hong Leong Investment Bank's head of retail research, Loui Low, there is continued strong interest in Inari.

"We may take this as a healthy trendline breakout above the RM2.15 level. Price target will be envisaged around RM2.20-2.25. Support will be set around RM2.00-2.09," Low said.

The semiconductor player's shares have been climbing since the beginning of the year, but became range-bound since May. On a year-to-date basis, the stock has climbed 31.33%.

The group's latest financial results in the third quarter ended March 31, 2017 (3QFY17) improved, with its bottom line jumping 140% to RM51.2 million from RM21.4 million, while revenue gained 26% to RM274 million from RM217.32 million.

A third interim single tier dividend of 2.2 sen per ordinary share was announced together with the 3QFY17 results in mid-May, and will be paid out tomorrow (July 6).