[Click eStock] "Chips and Media Meets Market Expectations for Q3"
On the 25th, Eugene Investment & Securities analyzed that Chips&Media's third-quarter earnings met market expectations. The investment opinion of "Buy" and the target stock price of 46,000 KRW were maintained.
Chips&Media recorded sales of 7 billion KRW and operating profit of 2 billion KRW in the third quarter, representing increases of 20.4% and 27.6% respectively compared to the same period last year. Jongseon Park, a researcher at Eugene Investment & Securities, said, "Despite a decrease in royalty sales due to contraction in the video home appliance and automotive markets, overall license sales increased as license sales for data center GPUs and AI SoCs rose."
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Eugene Investment & Securities expects Chips&Media's sales and operating profit in the fourth quarter to reach 8 billion KRW and 3 billion KRW, respectively. He explained, "Not only will new projects from existing global customers continue, but AI SoC target projects will also persist," adding, "NPU IP license contracts are expected to be possible with domestic and overseas customers in 2024."
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