Samsung Electronics ‘80,000 electronics’ frustrating for three months Focus on 1Q results
Mobile-centered earnings outlook… Stock price target price of up to KRW 120,000
(Seoul = Yonhap News) Reporter Kim A-ram = Samsung Electronics[005930] With the stock price moving sideways from the 80,000 won range for the third month, attention is drawn to the announcement of 1Q earnings to gauge the share price direction.
According to the Korea Exchange on the 4th, on the 2nd, Samsung Electronics closed at 84,000 won, up 2.29% from the previous trading day.
Samsung Electronics’ share price has risen sharply since the end of last year, surpassing 90,000 won at the beginning of the year, and rose to 96,000 won during the intraday on January 11th.
However, it has not exceeded the previous high for about three months from January 13 to now, and has continued a boring sideways market at the closing price of 80,000 won.
A short-term surge in stock prices has built up fatigue and rising interest rates have put a burden on the overall stock market, and Samsung Electronics has also entered a correction period.
In February, electricity was cut off due to a cold wave, and the Austin Semiconductor Foundry (consignment production) plant in the US was shut down. The plant has recently entered normal operation.
Shinhan Financial Investment Research Fellow Choi Do-yeon explained, “The stock price has been sluggish since the beginning of the year due to concerns about the suspension of operation of the Austin Non-Memory fab (production facility) and the resulting slowdown in smartphone shipments, and concerns about increased competition due to Intel’s entry into the foundry market.” .
Accordingly, investors are paying attention to Samsung Electronics’ provisional earnings for the first quarter, which will be announced soon. This is due to the expectation that the share price will gain momentum if the company’s performance exceeds expectations.
Stock prices are weighing on the outlook that 1Q earnings will be good, mainly in the mobile (IM) division, thanks to the effect of the Galaxy S21 launch.
According to F&Guide, a financial information company, the securities firm’s forecast (consensus) for Samsung Electronics’ consolidated operating profit in the first quarter of this year was totaled at 8,795.9 billion won, a 36.43% increase from the first quarter of last year.
The earnings level is also on the rise. Samsung Electronics’ 1Q operating profit forecast increased by 3.79% compared to 8.47 trillion won a month ago.
In recent years, when the provisional performance announcement is imminent, the forecast of 9 trillion won has come out one after another.
Song Myung-seop, a researcher at Hi Investment & Securities, who predicted operating profit of KRW 9.5 trillion, said, “Semiconductor performance will be sluggish due to the impact of the Austin Line power outage and a rather low average selling price (ASP), but the mobile (IM) division’s performance is good at reducing shipments and costs As a result, it will increase significantly from the previous quarter.”
In addition, Cape Investment & Securities (9 trillion KRW), Samsung Securities (9 trillion KRW), Eugene Investment & Securities (9.2 trillion KRW), Shinhan Investment & Securities (9.2 trillion KRW), Mirae Asset Daewoo (9 trillion KRW), etc. 1Q operating profit is expected to be over 9 trillion won.
Currently, the average Samsung Electronics target price suggested by 23 securities companies is 105,000 won, and the highest is 120,000 won suggested by Korea Investment & Securities and Shinhan Financial Investment.
As the semiconductor industry continues to strengthen, memory prices expected from 2Q and the normal operation of the Austin plant are considered positive materials for the share price.
Park Sung-soon, a researcher at Cape Investment & Securities, set a target price of 110,000 won and said, “Samsung Electronics’ stock price is going through a three-month adjustment period.” In the section, the stock price has enough upside,” he diagnosed.
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