Category: RESEARCH

Brokerage : Eugene Investment & Securities Analyst : Seung-woo Lee, Joo-hyung Lee Investment Rating : BUY (Maintained) Target Price : KRW 165,000 (Lowered) Core Momentum : Driving continuous earnings expansion in 2025 past near-term estimate cuts, underpinned by resilient AI demand, the mass production of AI accelerator FC-BGA substrates, and rising MLCC content per box…

Read More “[Research] Samsung Electro-Mechanics (009150) – Eugene Investment & Securities | AI Demand Resilience · Server FC-BGA · AI HW Penetration / 2024-11-29” »

Market: KOSPI (000660) Brokerage : SK Securities Analyst : Dong-hee Han (R.A Jemin Park) Investment Rating : BUY (Maintained) Target Price : KRW 300,000 (Maintained) Core Momentum : Implementation of strict CapEx discipline and dividend policy adjustments via the corporate value-up plan, alongside earnings defensiveness driven by an increasing share of high-value AI memory products…

Read More “[Research] SK hynix (000660 / SKHY) – SK Securities | Value-up Plan · CapEx Discipline · High-Value Mix Expansion / 2024-11-28” »

Market: KOSPI (000660) Brokerage : Hana Securities Analyst : Rok-ho Kim, Young-gyu Kim Investment Rating : BUY (Maintained) Target Price : KRW 240,000 (Maintained) Core Momentum : Official disclosure of the 2025–2027 shareholder return policy increases the fixed annual dividend to KRW 1,500 while redirecting previous annual 5% FCF payouts toward strengthening financial health, setting…

Read More “[Research] SK hynix (000660 / SKHY) – Hana Securities | Shareholder Return & Value Enhancement Plan · Prioritizing Financial Health / 2024-11-28” »

Market: KOSPI (000660) Brokerage : Hanwha Investment & Securities Analyst : Kwang-jin Kim Investment Rating : BUY (Maintained) Target Price : KRW 250,000 (Downgraded) Core Momentum : Earnings defensiveness and downside stock support driven by unrivaled HBM market leadership and shipment expansion, offsetting downward earnings revisions and sluggish traditional demand 📊 1. [Valuation & Key…

Read More “[Research] SK hynix (000660 / SKHY) – Hanwha Investment & Securities | Demand Polarization · HBM Dominance · Earnings Forecast Revision / 2024-11-27” »

Market: KOSPI (000660) Brokerage : Kiwoom Securities Analyst : Yu-ak Park Investment Rating : BUY (Maintained) Target Price : KRW 210,000 (Downgraded) Core Momentum : Maintained BUY rating underpinned by structural DRAM growth driven by HBM3e premiums and legacy rebound, despite near-term headwinds and earnings cuts from intensifying NAND competition 📊 1. [Valuation & Key…

Read More “[Research] SK hynix (000660 / SKHY) – Kiwoom Securities | Intensifying NAND Competition · DRAM Momentum · Target Price Cut / 2024-11-22” »

Brokerage : IBK Securities Analyst : Woon-ho Kim, RA: Min-gu Kang Investment Rating : BUY (Maintained) Target Price : KRW 170,000 (Maintained) Core Momentum : Poised for stable earnings expansion in 2025 following 4Q seasonal pause, driven by rising Non-IT and server MLCC mix, new customer acquisitions, and resilient FC-BGA substrate volume. 📊 1. [Valuation…

Read More “[Research] Samsung Electro-Mechanics (009150) – IBK Securities | AI & Automotive Growth · Non-IT MLCC Mix · FC-BGA Volume / 2024-10-30” »

Brokerage : Kiwoom Securities Analyst : So-won Kim Investment Rating : BUY (Maintained, Top Pick) Target Price : KRW 210,000 (Maintained) Core Momentum : Positioned for a +43% YoY operating profit surge in 2025 driven by solid high-value AI/automotive mix resilience and the commercial ramp-up of AI accelerator FC-BGA substrates starting in 4Q24. 📊 1….

Read More “[Research] Samsung Electro-Mechanics (009150) – Kiwoom Securities | AI & Auto Resilience · AI Accelerator FC-BGA · 2025 Growth Surge / 2024-10-30” »

Brokerage : Shinhan Securities Analyst : Kang-ho Oh, Analyst: Ji-beom Seo Investment Rating : BUY (Maintained) Target Price : KRW 190,000 (Lowered by -10%) Core Momentum : Sustaining a >20% YoY operating profit growth trajectory into 2025 past target multiple adjustments reflecting Component growth pacing, propelled by product mix enhancements in AI-oriented MLCCs and expanding…

Read More “[Research] Samsung Electro-Mechanics (009150) – Shinhan Securities | High-Value Product Growth · AI MLCC & FCBGA · 2025 Profit Expansion / 2024-10-30” »

Brokerage : iM Securities Analyst : Eui-young Ko, RA: Woo-sung Son Investment Rating : Buy (Maintain) Target Price : KRW 180,000 (Maintained, 12M Target Price) Core Momentum : Positioned for an earnings turnaround from deep value levels (12M trailing P/B 1.1x) driven by expanding mix in automotive/industrial MLCCs, server FC-BGA ramp-up, and On-Device AI hardware…

Read More “[Research] Samsung Electro-Mechanics (009150) – iM Securities | Deep Value Opportunity · On-Device AI Catalyst · Server & Auto Expansion / 2024-10-30” »

Brokerage : Mirae Asset Securities Analyst : Jun-seo Park Investment Rating : BUY (Maintained) Target Price : KRW 200,000 (Maintained) Core Momentum : Defending earnings via automotive and AI diversification despite 4Q seasonal destocking, with structural growth in 2025 driven by surging high-capacitance decoupling MLCCs for On-Device AI and visibility on next-generation businesses (solid-state batteries…

Read More “[Research] Samsung Electro-Mechanics (009150) – Mirae Asset Securities | On-Device AI MLCC · Solid Substrate Demand · Solid-State Battery & Glass Substrate / 2024-10-30” »