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Hanmi semiconductor. (photo = Hanmi semiconductor) |
[Alpha Biz= Reporter Kim Jisun] Hanmi Semiconductor is forecasted to see its Q3 operating profit increase by a staggering 2,700% compared to the previous year.
DS Investment & Securities predicts that Hanmi Semiconductor will report Q3 sales of 194.2 billion KRW and an operating profit of 81.6 billion KRW, representing increases of 523% and 2,713%, respectively, from the same period last year. This forecast exceeds even the average consensus estimate of the securities industry for Hanmi Semiconductor's Q3 performance.
DS Investment & Securities noted that additional orders for thermal compression bonding (TC bonder) equipment from major memory clients are expected from the second half of this year through the first half of 2025. Since new equipment is required with each generation of TC bonders, Hanmi Semiconductor is likely to supply new equipment each time clients release next-generation products.
Hanmi Semiconductor continues to maintain its market dominance in the HBM bonding sector. Notably, in Q2, the company secured new equipment orders from Chinese clients and has additional equipment delivery plans scheduled for North American clients.
The Q3 forecast is based on the timing of equipment shipments related to these orders. DS Investment & Securities anticipates that with the initial shipments of TC bonders to North American clients starting in June, visibility for revenue growth in Q3 is expected to improve significantly. The revenue from bonders is projected to increase from approximately 85.9 billion KRW in Q2 (a 67% increase from the previous quarter) to 145.5 billion KRW in Q3 (a 69% increase).
For the year, DS Investment & Securities expects Hanmi Semiconductor's sales to reach 615.1 billion KRW, a 287% increase compared to the previous year, with operating profit projected to rise to 249 billion KRW, marking a 621% increase.
Based on these high expectations, the research firm has set a target price of 190,000 KRW for Hanmi Semiconductor's stock.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
