[Featured Stock] Silicon Works Rises 5% on Earnings Expectations
[Asia Economy Reporter Lee Seon-ae] Silicon Works is showing an upward trend on the 11th.
As of 9:10 AM on the day, Silicon Works is trading at 65,700 KRW, up 5.12% compared to the previous day. The rise is analyzed to be due to expectations of strong earnings.
Hi Investment & Securities stated that they maintain a 'Buy' rating and a target price of 96,000 KRW for Silicon Works due to the possibility of upward earnings revisions, recommending an increased weighting.
Silicon Works' first-quarter earnings are expected to significantly exceed market expectations (sales of 308.8 billion KRW, operating profit of 21.4 billion KRW), recording sales of 360.8 billion KRW (YoY: +70%, QoQ: -1%) and operating profit of 31.5 billion KRW (YoY: +169%, QoQ: +27%).
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Accordingly, the annual earnings consensus is also likely to be revised upward. This year's performance is expected to show significant growth following last year, as the proportion of highly profitable OLED driving chips expands due to increased shipments of LG Display's OLED TVs, iPhone OLED panels, and small- and medium-sized OLED panels from BOE and CSOT.
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