[Infostock Daily= Reporter An Hoe Hyun] SK Securities analyzed on the 7th that Samwha Capacitor has entered the structural growth period of MLCC(Multi Layer Ceramic Capacitor). The investment opinion was maintained as the Buy and the target stock price was raised to 88,000 won.
"Samwha Capacitor's MLCC-wide profit contribution is 82%, which is by far overwhelming among the capacitor product portfolio," the company explained, adding, "Samwha Capacitor's performance shrank sharply due to the resolution of the MLCC supply shortage in 2019, but it has recently begun structural growth due to increased demand for 5G mobile, large and high-definition TVs, and electronic equipment of vehicles."
"Considering that the general expansion of IT is limited to around 10%, the MLCC price direction is expected to be maintained or upward in the future," the company said, adding, "LG Electronics is a major customer company in MLCC, accounting for 40%."
"The customer company's TV, home appliance and auto parts business is in an unprecedented boom, so there will be a direct trickle-down effect for Samwha Capacitor," the company said, adding, "In particular, the part that raises expectations is MLCC for electronic equipment, which accounts for 35% of sales."
Reporter An Hoe Hyun ahh@infostock.co.kr
