[Featured Stock] Samsung Electronics Hits New 52-Week Low Again... Falls Below 52,000 Won

[Image source=Yonhap News]

[Asia Economy Reporter Myung-hwan Lee] Samsung Electronics continued its downward trend in the morning session on the 30th, repeatedly breaking its 52-week low record.

As of 9:56 a.m. that day, Samsung Electronics was trading at 51,900 KRW, down 1.33% (700 KRW) from the previous trading day. This is the lowest price in about 2 years and 3 months since June 19, 2020 (intraday low of 51,600 KRW).

Samsung Electronics has recently set new 52-week low records for six consecutive trading days due to concerns over the economic downturn and the semiconductor industry.

Hi Investment & Securities lowered Samsung Electronics' target price from 75,000 KRW to 72,000 KRW on the same day. Song Myung-seop, a researcher at Hi Investment & Securities, said, "Due to extreme demand sluggishness, customers have begun significant inventory reductions since the end of Q2, leading to an unprecedented rapid slowdown in the memory semiconductor market," adding, "The shipment growth rates for DRAM and NAND in Q3 and this year are expected to fall significantly short of the initial guidance."

Concerns have also been raised that Samsung Electronics' stock price could fall to the 40,000 KRW range. Researcher Song stated, "Assuming the worst-case scenario where the price-to-book ratio falls to the historical low of 0.94 times, the stock price could drop to around 46,300 KRW," and assessed, "In this case, the maximum downside risk for Samsung Electronics' stock price is 12%."