[Featured Stock] Simtek Surges Over 9% on Record Earnings Outlook... Breaks Intraday High
[Asia Economy Reporter Lee Seon-ae] Simtek's stock price is showing strong performance.
At 9:39 AM on the 23rd, Simtek was trading at 45,700 KRW, up 9.07% compared to the previous trading day. It also hit a new intraday high. The previous 52-week high was 45,000 KRW, recorded on November 16.
Earlier, Kiwoom Securities raised the target price for Simtek from 27,000 KRW to 45,000 KRW, forecasting a record-high operating profit of 220.2 billion KRW next year.
Researcher Kim Ji-san analyzed, "Against the backdrop of a boom in package substrates, operating profit is expected to reach a record high of 220.2 billion KRW next year, following this year's 159 billion KRW."
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He added, "With increased sales of high-value MSAP (Microscale Semiconductor Assembly Process) substrates, a continuous rise in blended ASP (average selling price), and reduced fixed cost burden due to high utilization rates, profitability is expected to improve significantly."
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