Seoul, January 26, 2026, 08:59 KST — Premarket
- Samsung Electro-Mechanics was steady at 272,000 won before trading began, following a 11,000-won drop on Friday
- The firm highlighted ongoing demand growth linked to AI servers and automotive electronics in 2026
- Hana Securities bumped up its target price to 340,000 won, viewing the recent dip as a prime buying opportunity
Samsung Electro-Mechanics shares held steady at 272,000 won in pre-market indications Monday, following a 11,000 won drop, roughly 3.9%, on Friday. The KOSPI-listed components firm hadn’t recorded any trades before the opening bell. (Samsung Semiconductors)
The stock now serves as a stand-in for one key wager: that investment in AI data centres and the rising electronics content in vehicles will continue driving demand along the component supply chain. For Samsung Electro-Mechanics, this bet revolves around multi-layer ceramic capacitors (MLCCs) — small capacitors found in a range of devices — plus high-end chip substrates that support advanced processors.
The company reported fourth-quarter revenue of 2.9021 trillion won and an operating profit of 239.5 billion won, with full-year revenue hitting a record 11.3145 trillion won. It expects demand linked to AI, servers, and automotive sectors to keep rising into 2026. The firm is also advancing into higher value-added components and laying groundwork for longer-term growth in glass substrates and parts for humanoid robots. (Samsung Semiconductors)
Details got a bit murky. The component segment, covering MLCCs, climbed 22% year-on-year but dropped 4% from the previous quarter due to year-end inventory tweaks, the company reported. It also highlighted growth in FC-BGA — flip-chip ball grid array substrates critical for high-performance chips — driven by rising demand for AI accelerators.
Hana Securities raised its target price to 340,000 won from 310,000 won on Monday, maintaining a “buy” rating. Analyst Kim Min-kyung pointed out that a dip in MLCC pricing sparked a temporary pullback, but called it “a buying opportunity” as supply and demand tighten in the second half. She also highlighted Murata’s Feb. 2 earnings report as a crucial indicator for MLCC utilisation, inventory, and market balance. (아시아경제 CORE)
Hyundai Motor Securities shared a similar view, saying server demand stays robust despite sluggish sales in consumer devices. Analyst Kim Jong-bae noted that “AI should offset” concerns about weaker smartphone and PC markets. He maintained a buy rating and a target price of 340,000 won, according to Financial News. (First-Class 경제신문 파이낸셜뉴스)
Over the past 52 weeks, the shares have fluctuated between 108,800 won and 295,500 won, with the stock currently hovering close to the top of that range. This tight positioning means there’s little margin for missteps once the market zeroes in on pricing, mix, and inventory details.
Traders will be eyeing any clues on capacity and customer ramps in FC-BGA, a segment known to impact earnings but often volatile due to shifts in qualification timelines and utilisation.
The downside scenario is straightforward. If MLCC prices remain weak or inventory adjustments in consumer electronics stretch out, near-term volumes could fall despite strength in AI and automotive. A halt in AI server orders would also weigh on the high-end mix that the company and analysts are counting on.
Looking ahead to the next session, the key question is whether Friday’s selloff will spill into Seoul’s open. Investors are eyeing Murata’s Feb. 2 earnings and comments closely, treating them as a crucial gauge of the MLCC cycle.
