[Click eStock] "Hanmi Semiconductor, 'HBM Leader'... Target Price 72,000"

On the 17th, KB Securities issued a 'Buy' investment opinion on Hanmi Semiconductor and set the initial target price at 72,000 KRW. The current price (based on the previous day's closing price) is 62,400 KRW.

This year, SK Hynix holds the number one market share in the high-bandwidth memory (HBM) market, and Hanmi Semiconductor announced two contracts in August and September to supply TC bonders for HBM to SK Hynix. It is estimated that Hanmi Semiconductor will supply more than 80% of the TC bonders installed in SK Hynix's new HBM production line.

Hanmi Semiconductor's performance this year is expected to be sales of 153.1 billion KRW and operating profit of 28.8 billion KRW. This is a poor performance compared to last year, with sales down 53% and operating profit down 74%. However, next year, due to a business structure shift centered on HBM TC bonders, sales are expected to reach 356.3 billion KRW and operating profit 101.6 billion KRW.

Juyoung Park, a researcher at KB Securities, said, "Hanmi Semiconductor is preparing a hybrid bonder for memory," adding, "Once equipment development becomes visible, concerns about performance slowdown due to the expanded use of hybrid bonders are expected to diminish."