The stock price rose 450%, but is it going to rise further? ‘This stock’ sales are rapidly increasing

A report has been released that has raised the target stock price for Hanmi Semiconductor, whose stock price has risen nearly 450% this year alone. Sangsangsang Securities raised its target stock price for Hanmi Semiconductor from 66,000 won to 74,000 won on the grounds that it is expected to benefit greatly from the rapid growth of the high-bandwidth memory (HBM) market, which determines artificial intelligence (AI) performance. The closing price of Hanmi Semiconductor the previous day was 61,100 won.

On the 30th, Sangsang Certificate Researcher Jeong Min-gyu explained the reason for raising the target stock price in a report, saying, “We are expected to secure new customers for TC bonder equipment.” TC Bonder is HBM manufacturing equipment that attaches semiconductor chips to circuit boards using the heat compression method.

Researcher Jeong said, “Next year’s HBM market size is expected to grow by 171% compared to the previous year to $11.8 billion. In particular, HBM3e is expected to reach $5.4 billion and HBM3 to $4.7 billion, respectively, exceeding the entire HBM market size this year.” He added, “HBM3 launched by Hanmi Semiconductor He observed, “The dragon ‘Dual TC Bonder Dragon’ will also be a key driver in improving sales and profitability.”

He continued, “The signal has been set for a full-fledged expansion of TC bonder sales next year. Considering the growth of the HBM market and the three memory companies’ plans to expand HBM capacity (production capacity), Hanmi Semiconductor’s bonder equipment sales next year are estimated at 235.6 billion won.” However, he added, “The timing of sales recognition for TC bonder equipment orders is expected to be mostly next year, so there is not expected to be a significant impact on the fourth quarter performance.”

Hanmi Semiconductor is considered a leading HBM stock in the stock market. The stock price, which started at 11,000 won at the beginning of the year, has now risen about 450%.

Hanmi Semiconductor is currently benefiting from SK Hynix’s production line expansion. Last August, SK Hynix announced the expansion of its production line in Cheongju, North Chungcheong Province to increase HBM3E production capacity, and Hanmi Semiconductor announced the equipment order contract received from SK Hynix. The stock price continued to rise, reaching a new high of 66,300 won on the 10th of this month.

Previously, Park Joo-young, a researcher at KB Securities, said, “It is estimated that Hanmi Semiconductor will supply more than 80% of the TC bonders installed in SK Hynix’s new line.” He added, “Hanmi Semiconductor’s TC bonder sales in 2024 are expected to reach KRW 146 billion (41% of sales). “I anticipate it,” he said.