[Featured Stock] Samsung Electro-Mechanics Rises for 6th Day on Earnings Growth Expectations... Up 4%
[Asia Economy Reporter Song Hwajeong] Samsung Electro-Mechanics has continued its six-day winning streak on expectations of increased earnings.
As of 11:17 AM on the 8th, Samsung Electro-Mechanics was trading at 144,500 KRW, up 4.71% (6,500 KRW) from the previous day.
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Samsung Securities stated about Samsung Electro-Mechanics on the day, "The third-quarter MLCC (Multilayer Ceramic Capacitor) shipment volume is exceeding previous expectations," adding, "This is due to increased demand for mobile MLCCs. Samsung Electronics' third-quarter smartphone shipments remain solid, and Huawei's short-term surge in smartphone MLCC orders appears to be driving increased orders from other Greater China customers." Samsung Securities revised upward its third-quarter MLCC sales and operating profit estimates for Samsung Electro-Mechanics by 4% and 22%, respectively, to 884.7 billion KRW and 166.3 billion KRW. Additionally, Samsung Securities raised Samsung Electro-Mechanics' third-quarter operating profit estimate by 15% to 257.7 billion KRW.
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