[Edaily Reporter Kim Hyung-il ] SamsungElectronics(005930)rose more than 5% during trading hours, regaining the 240,000 won mark. This surge is attributed to strong buying interest, driven by improving memory market conditions, growing expectations for a recovery in high-bandwidth memory (HBM) competitiveness, robust semiconductor exports, and the potential for expanded shareholder returns.

As of 1:20 p.m. on the 11th, SamsungElectronics is trading at 242,000 won, up 12,000 won (5.22%) from the previous trading day. After showing a downward trend early in the session, SamsungElectronics’ stock price turned upward in the morning and continued to extend its gains.

On the same day, MIRAE ASSET SECURITIES maintained its “Buy” rating and target price of 370,000 won for SamsungElectronics. The firm noted that valuation concerns have eased following the recent stock price correction and projected that memory demand will continue to rise due to expanded investment in artificial intelligence (AI) data centers.

MIRAE ASSET SECURITIES predicted that the memory market recovery will gain momentum. It forecast that the average selling price (ASP) of DRAM will rise by 15% in the third quarter, 5% in the fourth quarter, and 22% in 2027. The firm also expects rising HBM prices and increased shipments to drive improvements in SamsungElectronics’ earnings.

Earnings forecasts have also been revised upward. MIRAE ASSET SECURITIES estimated SamsungElectronics’ operating profit for the third and fourth quarters of this year, as well as next year, at 120 trillion won, 393 trillion won, and 559 trillion won, respectively. The firm analyzed that profits will grow rapidly as rising memory prices and expanded HBM shipments drive earnings growth.

Strong semiconductor exports are also continuing. According to the Korea Customs Service, exports from August 1 to 10 totaled $21.3 billion (approximately 30.116 trillion won), a 45.3% increase compared to the same period last year. This marks the highest figure on record for the period from August 1 to 10. In particular, semiconductor exports rose 155.4% year-over-year, and their share of total exports expanded by 20.1 percentage points to 46.8%.

As the growth trend in exports of major items, including semiconductors, continues, expectations for an improvement in the memory chip market are also rising. During the same period, exports of petroleum products and computer peripherals also increased by 65.3% and 139.5%, respectively.

The potential for expanded shareholder returns was also cited as an investment highlight. MIRAE ASSET SECURITIES analyzed that SamsungElectronics’ free cash flow (FCF) is expected to increase significantly after 2027, potentially expanding the funds available for shareholder returns. The firm projected that even under conservative assumptions, FCF could rise to over 600 trillion won over the three years starting in 2027.

MIRAE ASSET SECURITIES also noted that SamsungElectronics’ current valuation has fallen to levels seen before the AI cycle. Assessing the 12-month forward price-to-book (P/B) ratio at 1.6x and the price-to-earnings (P/E) ratio at 3.9x, the firm determined that, given the improving memory market conditions and rising profits, investors should increase their exposure at current stock prices.