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Amid a sharp rally in semiconductor shares, analysts have raised their price targets for Samsung Electronics, SK Hynix and Samsung Electro-Mechanics — to 610,000 won, 4 million won and 3 million won, respectively. Wall Street, however, offered a split view, setting a higher target of 850,000 won for Samsung Electronics while capping SK Hynix at 2.5 million won. The Kospi briefly touched 8,800 for the first time on Monday, pushing total market capitalization past 7,000 trillion won (approximately $4.66 trillion).
Korea Exchange data showed the Kospi closed Monday up 312.23 points, or 3.68 percent, at 8,788.38. The index's advance has prompted a wave of sharply higher price targets for semiconductor-related stocks.
DB Securities raised its target for Samsung Electro-Mechanics on Monday to 3 million won from 1.6 million won — nearly double — saying the company holds an "irreplaceable position" in the market.
"The multiples of FC-BGA (flip-chip ball grid array) and MLCC (multilayer ceramic capacitor) makers continue to expand," said DB Securities analyst Jo Hyeon-ji. "Samsung Electro-Mechanics holds an irreplaceable position in that it commands top-tier technology in both components."
SK Securities also raised its target for Samsung Electronics to 610,000 won from 500,000 won and lifted its SK Hynix target to 4 million won from 3 million won.
SK Securities analyst Han Dong-hee cited three reasons for the upgrades: expanded long-term supply agreements (LTAs) improving demand visibility, higher HBM prices for 2027, and a prolonged structural upcycle in the industry.
"HBM prices for 2027 will rise at least 50 percent compared with this year," Han said. "Given the strength of application-specific integrated circuits (ASICs) and the opening of the HBM4e market next year, all products — HBM3e, HBM4 and HBM4e — are candidates for price increases."
Han added that long-term supply agreements would reduce volatility in the memory chip industry and support stable growth.
Wall Street's view diverged, however. While one U.S. analyst set a Samsung Electronics target higher than domestic estimates at 850,000 won, the same analyst placed SK Hynix at 2.5 million won, suggesting limited room for further upside.
According to financial investment industry sources and Bloomberg, Mehdi Hosseini, a senior analyst at U.S. investment firm Susquehanna, issued a "positive" rating on Samsung Electronics on May 29 with a price target of 850,000 won.
Should Samsung Electronics reach 850,000 won, it would join Nvidia, Apple and Google as one of the only companies with a market capitalization exceeding 5,000 trillion won — a remarkably bold projection.
Hosseini set his SK Hynix target at 2.5 million won, indicating he sees little additional upside for the stock. The divergence is particularly notable given that Hosseini is a 16-year veteran of Susquehanna's technology research division.
He had taken a similar stance at the start of the year, expressing optimism on Samsung Electronics while remaining cautious on SK Hynix.
His reasoning: Samsung Electronics has greater semiconductor production capacity than SK Hynix and has moved ahead of its rival in HBM4, positioning it to narrow the market share gap in the HBM segment going forward.
Meanwhile, Samsung Electronics shares closed Monday up 10.09 percent at 349,000 won. SK Hynix ended the session up 1.29 percent at 2,363,000 won, while Samsung Electro-Mechanics fell 5.74 percent to close at 2,005,000 won.
yeonjoo7@heraldcorp.com
