The September second week (the 14th–18) Best Reports selected by MoneyToday's securities department are: △Kim Hong-sik, researcher at Hana Securities, "Shortage Inevitable, Stock Prices to Surge Significantly in '27"; △Nam Chae-min, researcher at Korea Investment & Securities, "Post-NDR: In Short, Buy the Lion" (SFA Semiconductor); and △Kim Soo-hyun, researcher at DS Investment & Securities, "Light-Speed Growth and Expansion (Doosan)."
Researcher Kim Hong-sik forecasted that a shortage of wireless communication equipment will occur starting next year due to U.S. restrictions on equipment and components exported to China. He anticipated that domestic outsourcing wireless communication equipment companies would benefit from this situation.
Researcher Kim analyzed the impact of U.S. investment in the wireless communication industry and regulations on equipment and components for China over 58 pages. He predicted that if a shortage of wireless communication equipment materializes next year, the multiples of related stocks will be higher than expected.
The sectors identified by Researcher Kim as areas of interest—RFHIC (21.17%), KMW (20.67%), HFR (19.65%), Solid (13.23%), and OIS Solution (19.09%)—rose by double digits from the report's release date on the 15th through the 18th. LIG Aqube also surged 8.29%.
The following is a summary of the report. (View Original Text)
☞'View Original Text' is available only on the MoneyToday website, not on portal sites such as Naver or Daum.
Last July, the United States announced a plan to auction up to 800MHz of spectrum starting next year through 2029 by enacting the "One Big Beautiful Bill Act (OBBBA)." It further previewed an auction for Upper C-band spectrum in April next year. This is aimed at fostering physical AI, laying the groundwork for U.S. telecom operators to expand their 5G and 6G services. Investment in 5G SA and 6G is expected to fully commence to spread AI base stations, with the judgment that 5G SA killer services will be physical AI and quantum cryptography communication, as previously mentioned.
Unlike the trend of market expansion, the number of wireless communication equipment companies has sharply declined over the past 20 years. While Chinese SI (system integrator) and outsourcing companies including Huawei have grown rapidly, the status of U.S. and European companies has weakened significantly. However, looking at supply and demand conditions, a shortage is expected to worsen next year. Recently, a crisis in optical module supply occurred due to U.S. sanctions on China, leading to demands even to relax regulations on Chinese-made products. Domestic outsourcing wireless communication equipment companies are expected to benefit. Active buy recommendations are issued for RFHIC, KMW, Solid, HFR, LIG Aqube, and OIS Solution.
Researcher Nam Chae-min forecasted that SFA Semiconductor will grow as it plays a core role in the Samsung Electronics DDR5 (Double Data Rate 5) post-processing value chain.
Researcher Nam maintained SFA Semiconductor as the top preferred stock within the semiconductor post-processing (OSAT) industry and raised its target price by 20% from the previous level to 12,000 won. SFA Semiconductor surged 28.13% from the report's release on the 14th through the 18th.
The following is a summary of the report. (View Original Text)
☞'View Original Text' is available only on the MoneyToday website, not on portal sites such as Naver or Daum.
As SFA Semiconductor plays a core role in the Samsung Electronics DDR5 post-processing value chain, its Philippine subsidiary's sales are expected to grow by 45.3% year-on-year to 552 billion won next year. The volume of FBGA (flexible printed circuit board) packaging for DDR5 and SSDs (Solid State Drives) destined for domestic factories will also increase.
The Korea Plant 1 is expected to record sales growth of 177.5% year-on-year to 230 billion won next year as outsourced memory volumes expand significantly. The Korea Plant 2 is seeing a steady increase in 8-inch wafer-level packaging volume due to rising demand for power semiconductors such as PMICs (Power Management ICs). The Korean plants are entering a phase where both memory and non-memory packaging demand will rise, with the overall sales share expected to expand from 32% this year to 38% next year.
SFA Semiconductor is maintained as the top preferred stock within the OSAT industry, and its target price is raised by 20% from the previous level to 12,000 won. The trend of increasing memory packaging volume at Korean plants is steeper than when the previous report was written. In addition to secured outsourced DDR5 packaging volumes, there is potential for additional orders, and estimates may be revised upward upon securing them. It is judged that this is a time to focus on benefits from the expansion of outsourced volumes.
Researcher Kim Soo-hyun positively evaluated Doosan's decision to expand its electronics business division with an investment of 968.4 billion won and to cancel all of its treasury stock worth approximately 3 trillion won (market value).
Previously, on the 17th, Doosan announced via public disclosure that it would invest 968.4 billion won in expanding its domestic and overseas electronics business divisions to respond to increased demand for CCLs (Copper Clad Laminates) due to AI data center expansion.
He diagnosed that among holding companies under the Monopoly Regulation and Fair Trade Act, Doosan is the most active company in enhancing shareholder return and corporate valuation. Accordingly, he raised Doosan's target price from 2.4 million won to 2.75 million won and maintained its investment recommendation as "Buy." Doosan's stock price rose 6.71% from the 14th through the 18th.
The following is a summary of the report. (View Original Text)
☞'View Original Text' is available only on the MoneyToday website, not on portal sites such as Naver or Daum.
Doosan decided to invest 968.4 billion won. The domestic investment amount is 421 billion won, and the investment in its Changshu, China subsidiary is 547.4 billion won. It is interpreted that the purpose is not only to meet demand for AI accelerator network boards but also to prepare for optical modules and future ASICs (Application-Specific Integrated Circuits).
CCL sales for optical transceivers in the first half of the year were approximately 80 billion won, more than ten times higher than the previous year. Due to explosive demand growth recently, second-half sales are expected to increase by about three times compared to the first half, reaching 220 billion won. As the proportion of optical modules grows, the overall ASP (Average Selling Price) of CCLs in the electronics business division is expected to rise by approximately 15–20% this year compared to last year.
Doosan also decided to cancel all of its treasury stock. The market evaluates it as the most active company among holding companies under the Monopoly Regulation and Fair Trade Act in enhancing shareholder return and corporate valuation. CAPA (production capacity) expansion increased by more than 200 billion won compared to previous communications, and Doosan's trustworthiness in fulfilling its value-up program commitments—such as canceling all treasury stock within this year and acquiring Siltronic for organic growth using external resources—is considered the highest among listed companies.
in STOCK
