Category: RESEARCH

Brokerage : Kiwoom Securities Analyst : So-won Kim Investment Rating : BUY (Maintained) Target Price : KRW 340,000 (Raised) Core Momentum : Multi-year earnings expansion projected on the back of 4Q25 earnings beat, expected 1Q26 consensus outperformance, an AI server-driven boom across MLCC and FC-BGA, and emerging new business catalysts 📊 1. [Valuation & Key…

Read More “[Research] Samsung Electro-Mechanics (009150) – Kiwoom Securities | AI Server MLCC & FC-BGA Boom · 4Q Beat & 1Q Acceleration / 2026-01-26” »

Brokerage : iM Securities Analyst : Eui-young Ko Investment Rating : Buy (Maintained) Target Price : KRW 350,000 (Maintained) Core Momentum : Earnings upward revisions projected on the back of 4Q25 earnings beat, rapid mix enrichment toward server/automotive applications, set makers’ MLCC LTA requests, and pulled-forward full utilization in FC-BGA supported by major U.S. Big…

Read More “[Research] Samsung Electro-Mechanics (009150) – iM Securities | MLCC LTA Demand · Substrate Expansion · Product Mix / 2026-01-26” »

Brokerage : Eugene Investment & Securities Analyst : Joo-hyung Lee Investment Rating : BUY (Maintained) Target Price : KRW 360,000 (Raised) Core Momentum : Earnings and profitability expansion projected across Component and Substrate divisions, driven by 4Q25 earnings resilience, rising CSP CapEx, rack-server growth, and product mix enrichment toward server/network applications 📊 1. [Valuation &…

Read More “[Research] Samsung Electro-Mechanics (009150) – Eugene Investment & Securities | 4Q25 Review · Boiling Point Approach · LTA & High-end Mix / 2026-01-26” »

Brokerage : IBK Investment & Securities Analyst : Woon-ho Kim Investment Rating : BUY (Maintained) Target Price : KRW 330,000 (Maintained) Core Momentum : Multi-year earnings acceleration projected on the back of 4Q25 earnings beat, broad-based sequential top-line growth across all divisions in 1Q26, rising Non-IT MLCC mix, and margin expansion in server/AI ASIC substrates…

Read More “[Research] Samsung Electro-Mechanics (009150) – IBK Investment & Securities | 4Q25 Beat · AI & Automotive Growth · Seasonality Diminished / 2026-01-26” »

Brokerage : Shinhan Securities Analyst : Kang-ho Oh, Ji-bum Seo Investment Rating : BUY (Maintained) Target Price : KRW 400,000 (Raised) Core Momentum : Comprehensive valuation re-rating projected on the back of transitioning into a pricing-driven (P) seller’s market under the AI cycle, alongside high capacity utilization comparable to global AI value chain peers 📊…

Read More “[Research] Samsung Electro-Mechanics (009150) – Shinhan Securities | AI Cycle · Pricing Power · Multiple Re-rating / 2026-01-26” »

Brokerage : SK Securities Analyst : Hyoung-wou Park Investment Rating : BUY (Maintained) Target Price : KRW 410,000 (Raised) Core Momentum : Multi-year earnings and valuation re-rating projected on the back of 4Q25 earnings beat, strong 1Q26 outlook, FCBGA customer expansion (from 4 to 7 accounts), and synchronized shortages in MLCC & FCBGA through 2026–2027…

Read More “[Research] Samsung Electro-Mechanics (009150) – SK Securities | 7 Growth Drivers · AI Transformation · Shortage 2026-27 / 2026-01-26” »

Brokerage : Daishin Securities Analyst : Kang-ho Park, Ji-won Seo (RA) Investment Rating : BUY (Maintained) Target Price : KRW 350,000 (Raised) Core Momentum : Multi-year earnings acceleration projected on the back of 4Q25 earnings beat, expanding AI/server FC BGA product mix, and potential valuation expansion driven by collaboration opportunities in humanoid robotics (Tesla, Boston…

Read More “[Research] Samsung Electro-Mechanics (009150) – Daishin Securities | 4Q25 Beat · 1Q26 Acceleration · Humanoid Robotics / 2026-01-26” »

Brokerage : Mirae Asset Securities Analyst : Jun-seo Park Investment Rating : BUY (Maintained) Target Price : KRW 400,000 (Raised) Core Momentum : Earnings upward revisions and multiple expansion projected on the back of FC-BGA entering a structural seller’s market, reaching full capacity utilization and ASP hikes in 2H26, alongside tight MLCC supply 📊 1….

Read More “[Research] Samsung Electro-Mechanics (009150) – Mirae Asset Securities | FC-BGA Seller’s Market · Full Capacity · Multiple Upward / 2026-01-26” »

Brokerage : Yuanta Securities Analyst : Sun-young Ko Investment Rating : BUY (Maintained) Target Price : KRW 330,000 (Maintained) Core Momentum : Multi-year growth visibility and weakening seasonality driven by structural server/automotive demand pivot, North American Big Tech expansion, and accelerated full capacity timeline in FC-BGA 📊 1. [Valuation & Key Financial Metrics] 🚀 2….

Read More “[Research] Samsung Electro-Mechanics (009150) – Yuanta Securities | Server Demand · Seasonality Weakening · Full Capa Acceleration / 2026-01-26” »

Brokerage : Hana Securities Analyst : Min-kyung Kim Investment Rating : BUY (Maintained) Target Price : KRW 340,000 (Raised) Core Momentum : Strong 2026 earnings growth projected on the back of resilient 4Q25 results, expanding AI server revenue contribution, and emerging humanoid robotics component momentum 📊 1. [Valuation & Key Financial Metrics] 🚀 2. [Market…

Read More “[Research] Samsung Electro-Mechanics (009150) – Hana Securities | AI Server · Humanoid Robotics · Supply Tightness / 2026-01-26” »