The potential of ants revealed even in dividends… 30 is the issue of betting on Samsung Electronics

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The potential of’ants (individual investors)’ was confirmed once again. In the domestic stock market facing the ex-dividend date, it swept into the shopping cart the second-sized stock of a whopping 2.19 trillion won. The ants are the leader of the stock market, Samsung Electronics(79,700 +1.79%)I shopped for 76.8 billion won. It can be interpreted as betting on Samsung Electronics’ future earnings and share price rise amid improved industry conditions.

Individuals sweeping 2.19 trillion won Second largest for this year

According to the Korea Exchange on the 30th, individuals made a net purchase of 2.19 trillion won in the stock market the day before the ex-dividend date. It is the second largest ever since November 30th, after 2.2 trillion won. In this year’s domestic stock market, there are only two days when individuals net bought more than 2 trillion won on a daily trading basis.

If you expand the range to the entire market (KOSPI, KOSDAQ, KONEX), individuals bought the most in the domestic stock market the previous day. The previous day’s net purchase amounted to 2,4692 trillion won, which is about 37 billion won more than the 2,432.9 billion won recorded on November 30.

The day before is the ex-dividend date, and refers to the day when the right to receive dividends has expired (the dividend base date). Usually, the stock price falls on the ex-dividend date. There is no reason to hold a stock that has lost its right to receive dividends, so it goes on sale.

The exchange estimated this year’s cash dividend reduction index to 2764.33, 44.27 points (1.58%) lower than the closing price of the previous day, but considering the dividend reduction index, the KOSPI increased by 2.03% on the previous day.

Seo Jeong-hoon, a researcher at Samsung Securities, said, “With the market still abundant liquidity, the burden related to the transfer income tax for individual major shareholders was relieved on the previous day, and as the price attractiveness emerged due to the optical illusion effect of the loss of dividends, the buying tax of individuals was strongly inflow.”

The ants, which were the second-largest net buying in the securities market, bought 76.8 billion won worth of stock market leader Samsung Electronics. This is an amount that amounts to 32% of the individual net purchase amount in the entire securities market. Institutions and foreigners sold 481.5 billion won and 2487 billion won, respectively, and most of the sales were received by individuals. It can be interpreted as betting on Samsung Electronics’ share price in the future rather than on dividends.

The stock price outlook for Samsung Electronics next year is also bright. Not only profits but also sales are expected to increase. According to KB Securities, Samsung Electronics’ sales stagnated for 7 years from 2013 to 2020. On the other hand, profits during the period surged. It is explained that the only high profit margin is incomplete growth. However, recently, there is a prospect that sales will increase.

Lee Eun-taek, a researcher at this securities firm, said, “Recently, Samsung Electronics’ sales estimates have risen in eight years. This is because Samsung Electronics is continuing its aggressive moves as it enters new businesses such as foundries and image sensors.

The expectation of a semiconductor super cycle (long-term boom) is also pointed out as the basis for the purchase of Samsung Electronics. Seung-Woo Lee, a researcher at Eugene Investment & Securities said, “Next year, the memory cycle will be booming due to the recovery of global trade through a novel coronavirus infection (Corona 19) vaccine.” “The supply and demand for the emerging markets and memory industries have also improved, which is favorable to Samsung Electronics’ stock price. It is expected that a human environment will be created.”

According to F&Guide, a financial information provider, Korean securities firms recently predicted that Samsung Electronics will rise to the 90,000 won range. The place with the highest target price was Daeshin Securities Cape Investment Securities DB Financial Investment, which presented 95,000 won. A number of securities companies such as Hanwha Investment & Securities and KB Securities (92,000 won) and Hyundai Motor Securities (91,000 won) have offered a target price of 90,000 won.

Lee Song-ryul, reporter of Hankyung.com [email protected]