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Analysts said Tuesday that Samsung Electro-Mechanics shares, which have risen sevenfold this year, still have room to climb — sending the stock up more than 18 percent on the day to reclaim the 1.9 million won (about $1,230) level and push the company past Hyundai Motor to become the fourth-largest stock on the Kospi by market cap.
Samsung Electro-Mechanics closed Tuesday at 1.97 million won, up 18.39 percent from the previous session, according to Korea Exchange.
The stock began the year at 270,000 won before joining the ranks of so-called "emperor stocks" — shares priced above 1 million won each — on May 13. It then more than doubled to above 2.1 million won in just 12 trading sessions.
After peaking at 2,127,000 won on May 29, the share price slid to 1,664,000 won on Monday before rebounding to 1.97 million won on Tuesday.
Brokerages raised their price targets for Samsung Electro-Mechanics to as high as 2.3 million won on Tuesday.
iM Securities lifted its target from 1.8 million won to 2.3 million won, citing expectations of improved earnings driven by price increases for general-purpose multilayer ceramic capacitors, or MLCCs.
"Samsung Electro-Mechanics stands to benefit simultaneously from both MLCCs and FC-BGAs (flip-chip ball grid arrays), and further price increases make it highly likely that earnings estimates will continue to be revised upward," iM Securities analyst Ko Eui-young said in a report Tuesday.
Meritz Securities also recently raised its target to 2.1 million won, saying MLCCs are emerging as a strategic asset in the AI era and that the MLCC price-increase cycle is likely to intensify further.
Samsung Electro-Mechanics moved up one spot in the Kospi market cap rankings Tuesday, overtaking Hyundai Motor to claim fourth place after the two companies had been trading positions in recent sessions.
yeonjoo7@heraldcorp.com
