[Edaily Reporter Lee Hye-ra] On the 10th, Daishin Securities maintained its “Buy” rating on #Samsung Electro-Mechanics, noting that the company is beginning to see significant benefits from increased investment in AI servers and data centers, and raised its target price from 1.8 million won to 2.4 million won.

Park Kang-ho, an analyst at Daishin Securities, stated in a report released that day, “Both orders for silicon capacitors and expanded investment in high-density package semiconductor substrates (FC-BGA) are growth drivers based on the AI sector and global big tech clients,” adding, “As a foundation for further growth is secured, valuation re-rating is expected to accelerate.”
Daishin Securities assessed that the recently secured 1.6 trillion won worth of silicon capacitor orders will become a new growth driver for Samsung Electro-Mechanics. This order is expected to be reflected in earnings for 2027–2028, prompting an upward revision of 5.8% to the 2027 earnings per share (EPS) forecast. Analyst Park explained, “This business is applied to AI servers and is evaluated as having low investment costs and high profitability,” adding, “Depending on whether additional clients are secured, mid- to long-term earnings estimates may be revised upward further.”
The FC-BGA business was also cited as a growth driver. Due to rising demand for AI servers and data centers, current production capacity is being rapidly exhausted, and the firm expects decisions on additional investments—targeted for operation in 2028—to materialize. Analyst Park noted, “In addition to Japan’s Ibiden, which has a deep partnership with NVIDIA, numerous global big tech companies are likely to consider Samsung Electro-Mechanics as a key supplier,” adding, “Based on investment support from clients, there is a high probability of stable capacity expansion.”
He also predicted that the MLCC business would continue to see improved market conditions. Park noted, “With supply shortages persisting in the AI server and industrial markets, the likelihood of price increases remains high.”
He also highlighted the expansion of the robotics business. “Tangible results are expected in the robotics and humanoid sectors,” he said, adding, “We believe the company already has collaborative relationships with Tesla (Optimus) and Boston Dynamics (Atlas).” He continued, “In addition to camera modules, we expect the company to expand its supply of actuators,” adding, “As the adoption of FC BGA and MLCCs increases in the robotics sector, the company is expected to participate in the growth trend of the robotics industry.”