What semiconductor-related stocks have strong expectations of rising even after disappointing sales? 7 stocks that are responsible for the fate of the Nikkei Average! [Summary of financial results]
Financial results for major semiconductor-related companies have been completed. What is each company's stock priceImproving semiconductor market conditionsbyPerformance recovery expectationsSince it was factored in quite a bit, it's conservativeDisappointing sales in response to earnings forecast announcementsstood out.
In the regular stock exchange of the Nikkei Stock Average in April this year, semiconductor-related stocks $Disco (6146.JP)$with $Socionext (6526.JP)$has been newly adopted, and the Nikkei AverageAn index that is also susceptible to semiconductor-related headlinesIt became.5/22 (early morning Japan time on the 23rd)Is a major US semiconductor company leading advanced products $NVIDIA (NVDA.US)$Financial results for the fiscal year ending February to April are being announced, and the announcement includes 7 companiesShaking up the Nikkei Stock AverageThe chances are very high.7 major semiconductor-related stock companies with high weight (composition ratio) in the Nikkei AverageWe confirmed the financial results points, the current position of stock prices, and the analysts' views. (Note: Lasertech only accounts for the 3rd quarter of the fiscal year ending 2014/6; the rest are full year accounts for the fiscal year ending 24/3)
[Overview]
▼5 out of 7The stock price of will be on the business day after the financial results are announcedwhereabouts。 $Screen Holdings (7735.JP)$、 $Advantest (6857.JP)$、 $Shin-Etsu Chemical (4063.JP)$IsSignificantly cheaperIt became.
▼Regarding financial results for the fiscal year ending March 25,Strong outlook for Tokyo ElectronI showed it. Both sales and net profitExpect double-digit growth compared to the previous fiscal year。
▼ For the fiscal year ending 25/3Forecast of a decrease in sales and profitWhat it showed was $Socionext (6526.JP)$only.
▼ $Shin-Etsu Chemical (4063.JP)$with $Disco (6146.JP)$What is the full-year forecast for the current fiscal yearundisclosedThen, only the 1Q outlook was announced.
▼ Sales came out with a weaker earnings forecast than expected, but analysts' target stock prices are still bullish and expectations for an increase are strong.
▼ From current stock prices to analysts' average target stock pricesThere is a big divergenceIt's $Advantest (6857.JP)$、 $Screen Holdings (7735.JP)$、 $Shin-Etsu Chemical (4063.JP)$So eitherOver 20% room for growthis expected.
▼ What has already exceeded the average target stock price $Socionext (6526.JP)$with $Lasertec (6920.JP)$So, $Disco (6146.JP)$It's almost the same.
(As of 5/15)
▼5 out of 7The stock price of will be on the business day after the financial results are announcedwhereabouts。 $Screen Holdings (7735.JP)$、 $Advantest (6857.JP)$、 $Shin-Etsu Chemical (4063.JP)$IsSignificantly cheaperIt became.
▼Regarding financial results for the fiscal year ending March 25,Strong outlook for Tokyo ElectronI showed it. Both sales and net profitExpect double-digit growth compared to the previous fiscal year。
▼ For the fiscal year ending 25/3Forecast of a decrease in sales and profitWhat it showed was $Socionext (6526.JP)$only.
▼ $Shin-Etsu Chemical (4063.JP)$with $Disco (6146.JP)$What is the full-year forecast for the current fiscal yearundisclosedThen, only the 1Q outlook was announced.
▼ Sales came out with a weaker earnings forecast than expected, but analysts' target stock prices are still bullish and expectations for an increase are strong.
▼ From current stock prices to analysts' average target stock pricesThere is a big divergenceIt's $Advantest (6857.JP)$、 $Screen Holdings (7735.JP)$、 $Shin-Etsu Chemical (4063.JP)$So eitherOver 20% room for growthis expected.
▼ What has already exceeded the average target stock price $Socionext (6526.JP)$with $Lasertec (6920.JP)$So, $Disco (6146.JP)$It's almost the same.
(As of 5/15)
◆ $Tokyo Electron (8035.JP)$
・Top semiconductor manufacturing equipment in Japan. A world leader. Strong in pre-process processes, such as coater developers.
・What is the fiscal year ending 25/3Projected significant increase in sales and profit. Sales of semiconductor manufacturing equipment for generative AI (artificial intelligence) etc. will recover.
・The operating profit plan fell short of market expectations.
・80 billion yenCompany stock buyback announcement.
・Two foreign securities companiesRaise target stock prices。「Positive impression that profitability continues to improve, supported by strengthened product lineups」、「Guidance for the fiscal year ended March 25 falls short of analysts' expectations, but this is because research and development expenses are being accelerated to gain long-term market share” The voice said.
・Financial results will be announced on 5/10. What is the stock closing price for the next business day1% lower。
・From 5/15 closing price (35,230 yen) to the average target stock price (38,8828.35 yen) of 19 analysts10.2%room for growth.
・Top semiconductor manufacturing equipment in Japan. A world leader. Strong in pre-process processes, such as coater developers.
・What is the fiscal year ending 25/3Projected significant increase in sales and profit. Sales of semiconductor manufacturing equipment for generative AI (artificial intelligence) etc. will recover.
・The operating profit plan fell short of market expectations.
・80 billion yenCompany stock buyback announcement.
・Two foreign securities companiesRaise target stock prices。「Positive impression that profitability continues to improve, supported by strengthened product lineups」、「Guidance for the fiscal year ended March 25 falls short of analysts' expectations, but this is because research and development expenses are being accelerated to gain long-term market share” The voice said.
・Financial results will be announced on 5/10. What is the stock closing price for the next business day1% lower。
・From 5/15 closing price (35,230 yen) to the average target stock price (38,8828.35 yen) of 19 analysts10.2%room for growth.
◆ $Advantest (6857.JP)$
・The world leader in semiconductor inspection equipment (testers). $NVIDIA (NVDA.US)$supplier of.
・The consolidated operating profit plan for the fiscal year ending March 25 is 90 billion yen, 10% compared to the previous fiscal year,Significantly lower than market expectations (136 billion yen). Shipments of test equipment for generative AI semiconductors will expand, but those for automobiles, PCs, smartphones, etc. will decrease.
・From domestic securities”The gross margin ratio of our competitor US Teradyne is not as bad as ours, and since stock price valuations are low, the number of investors who prioritize Teradyne will increase” he pointed out.
・Foreign securities”The expansion of tester needs due to the increase in test times due to the evolution of semiconductors is a tailwind. Close relationships with key customers are noteworthy” he commented.
・Financial results will be announced on April 26th. What is the stock closing price for the next business day7.3% lower。
・The closing price on 5/15 (5,358 yen) is up to the average target stock price (6700 yen) of 16 analysts25.1%room for growth.
・The world leader in semiconductor inspection equipment (testers). $NVIDIA (NVDA.US)$supplier of.
・The consolidated operating profit plan for the fiscal year ending March 25 is 90 billion yen, 10% compared to the previous fiscal year,Significantly lower than market expectations (136 billion yen). Shipments of test equipment for generative AI semiconductors will expand, but those for automobiles, PCs, smartphones, etc. will decrease.
・From domestic securities”The gross margin ratio of our competitor US Teradyne is not as bad as ours, and since stock price valuations are low, the number of investors who prioritize Teradyne will increase” he pointed out.
・Foreign securities”The expansion of tester needs due to the increase in test times due to the evolution of semiconductors is a tailwind. Close relationships with key customers are noteworthy” he commented.
・Financial results will be announced on April 26th. What is the stock closing price for the next business day7.3% lower。
・The closing price on 5/15 (5,358 yen) is up to the average target stock price (6700 yen) of 16 analysts25.1%room for growth.
◆ $Shin-Etsu Chemical (4063.JP)$
・World leader in vinyl chloride resins and semiconductor silicon wafers. Photoresists too.
・The full-year forecast for the fiscal year ending 25/3Undisclosed as rational calculation is difficult. The consolidated operating profit forecast for the first quarter of the fiscal year ending March 25 was 165 billion yen, down 14% from the same period last year.Deterioration in the vinyl chloride marketThen, the slump in the living environment basic materials business resonates.
・From analysts”Both earnings and shareholder returns are slightly unsatisfactoryThere were also voices saying,” but the semiconductor material processing company in the group of the same company,I like the announcement of the tender offer for Mimasu Semiconductor。
・Financial results will be announced on April 25. What is the stock closing price for the next business day6.4% lower。
・From 5/15 closing price (5860 yen) to average target stock price (7076.67 yen) for 15 analysts20.8%room for growth.
・World leader in vinyl chloride resins and semiconductor silicon wafers. Photoresists too.
・The full-year forecast for the fiscal year ending 25/3Undisclosed as rational calculation is difficult. The consolidated operating profit forecast for the first quarter of the fiscal year ending March 25 was 165 billion yen, down 14% from the same period last year.Deterioration in the vinyl chloride marketThen, the slump in the living environment basic materials business resonates.
・From analysts”Both earnings and shareholder returns are slightly unsatisfactoryThere were also voices saying,” but the semiconductor material processing company in the group of the same company,I like the announcement of the tender offer for Mimasu Semiconductor。
・Financial results will be announced on April 25. What is the stock closing price for the next business day6.4% lower。
・From 5/15 closing price (5860 yen) to average target stock price (7076.67 yen) for 15 analysts20.8%room for growth.
◆ $Lasertec (6920.JP)$
・The fiscal period is 6 months. Mask defect inspection equipment for advanced semiconductors is a pillar.
・The most recent financial results were announced for the 3rd quarter (23/7 to 24/3) of the fiscal year ending 24/6, and net profit was 41.5 billion yen, double the same period last year. Mask inspection devices compatible with the miniaturization of semiconductors were doing well.
・As of 7/147 years oldMr. Tetsuya Sendota, the current vice president (at the time of announcement), was promoted to president,rejuvenationAim for it.
・Foreign securities”Higher than expected order volume” was evaluated. “The companyThe only company that can actually use inspection equipment using EUV as a light sourceIt is,Continuous cutting-edge investments from customers can be expected” It was said.
・Financial results will be announced on April 30th. The next day's stock price14.9% higher。
・5/15 closing price (42,190 yen) is above the average target stock price (39,500 yen) of 15 analysts. What is the target stock price range23,000 to 50,000 yen.
・The fiscal period is 6 months. Mask defect inspection equipment for advanced semiconductors is a pillar.
・The most recent financial results were announced for the 3rd quarter (23/7 to 24/3) of the fiscal year ending 24/6, and net profit was 41.5 billion yen, double the same period last year. Mask inspection devices compatible with the miniaturization of semiconductors were doing well.
・As of 7/147 years oldMr. Tetsuya Sendota, the current vice president (at the time of announcement), was promoted to president,rejuvenationAim for it.
・Foreign securities”Higher than expected order volume” was evaluated. “The companyThe only company that can actually use inspection equipment using EUV as a light sourceIt is,Continuous cutting-edge investments from customers can be expected” It was said.
・Financial results will be announced on April 30th. The next day's stock price14.9% higher。
・5/15 closing price (42,190 yen) is above the average target stock price (39,500 yen) of 15 analysts. What is the target stock price range23,000 to 50,000 yen.
. ◆ $Disco (6146.JP)$
・World leader in cutting and polishing equipment for semiconductors and electronic components.
・The fiscal year ended March 24 was steady, mainly for power semiconductors. Both annual shipment value and full-year sales are the highest for 4 consecutive years. Each profit hit a record high. ROE is 22.4%. The equity ratio is 72.9%.
・The current 1Q plan falls short of market expectations.
・From domestic securities, “(it is a next-generation semiconductor essential for driving generative AI)Profit margins for high-end manufacturing equipment such as those for HBM are high and positiveIt was evaluated as”. From foreign securities, what is the 1Q plan for the current fiscal year”Small surprise with content in line with previous commentsThere was also an indication that”.
・Nomura Securities and CLSA Securities analysts cut target stock prices.
・Financial results will be announced on April 25. The next day's stock price2.3%cheap.
・The 5/15 closing price (53,850 yen) slightly exceeded the average target stock price (53,300 yen) of the 16 analysts. The target stock price range is 37,000 to 65,000 yen.
・World leader in cutting and polishing equipment for semiconductors and electronic components.
・The fiscal year ended March 24 was steady, mainly for power semiconductors. Both annual shipment value and full-year sales are the highest for 4 consecutive years. Each profit hit a record high. ROE is 22.4%. The equity ratio is 72.9%.
・The current 1Q plan falls short of market expectations.
・From domestic securities, “(it is a next-generation semiconductor essential for driving generative AI)Profit margins for high-end manufacturing equipment such as those for HBM are high and positiveIt was evaluated as”. From foreign securities, what is the 1Q plan for the current fiscal year”Small surprise with content in line with previous commentsThere was also an indication that”.
・Nomura Securities and CLSA Securities analysts cut target stock prices.
・Financial results will be announced on April 25. The next day's stock price2.3%cheap.
・The 5/15 closing price (53,850 yen) slightly exceeded the average target stock price (53,300 yen) of the 16 analysts. The target stock price range is 37,000 to 65,000 yen.
◆ $Screen Holdings (7735.JP)$
・The number of manufacturing equipment for foundries increased in the fiscal year ended 2014/3,Increased sales and profits. Sales to China and North America increased.
・The fiscal year ending 25/3Expected increase in sales and profitHowever,It did not meet market expectations。
・On a basis that takes stock splits into account for the first quarter of the year 25Dividend increase plan。
・From foreign securities”Both the operating profit plan for the current fiscal year and the new mid-term target seem to have fallen slightly below stock market expectations, which is slightly negative for stock prices” The voice said.
・Financial results will be announced on April 25. The next day's stock price12.2% lower。
・From 5/15 closing price (15,520 yen) to average target stock price (10,9043.33 yen) of 15 analysts22.7%There is room for improvement.
・The number of manufacturing equipment for foundries increased in the fiscal year ended 2014/3,Increased sales and profits. Sales to China and North America increased.
・The fiscal year ending 25/3Expected increase in sales and profitHowever,It did not meet market expectations。
・On a basis that takes stock splits into account for the first quarter of the year 25Dividend increase plan。
・From foreign securities”Both the operating profit plan for the current fiscal year and the new mid-term target seem to have fallen slightly below stock market expectations, which is slightly negative for stock prices” The voice said.
・Financial results will be announced on April 25. The next day's stock price12.2% lower。
・From 5/15 closing price (15,520 yen) to average target stock price (10,9043.33 yen) of 15 analysts22.7%There is room for improvement.
◆ $Socionext (6526.JP)$
・Fujitsu and Panasonic logic semiconductors are integrated. We supply advanced products through Fabless.
・The fiscal year ended 2014/3 was a record high with strong sales for data centers and networks, but the forecast for the fiscal year ending 25/3repercussionA decrease in sales and profit is expected.
・From fiscal year 24 to fiscal year 25, sales of new mass-produced products continued to expand, but special demand ended and the Chinese market and consumer equipment market weakened. After that oh
Sales growth will accelerate due to mass production etc. of acquisition negotiations for tomotives. (Financial results briefing materials)
・The annual dividend for the previous fiscal year was increased, and the forecast for the current fiscal year was alsoIncrease in distributionsand announced.
・Financial results will be announced on April 26th. The next day's stock price8.9% higher。
・5/15 closing price (4478 yen) is 12.9% of the average target stock price (3900 yen) of the four analystsexceed. What is the target stock price range2600 to 5200 yen
・After the announcement, Mitsui Trust AM and others lowered their stock holdings in the company, and Nomura Securities and others increased their holdings.
・Fujitsu and Panasonic logic semiconductors are integrated. We supply advanced products through Fabless.
・The fiscal year ended 2014/3 was a record high with strong sales for data centers and networks, but the forecast for the fiscal year ending 25/3repercussionA decrease in sales and profit is expected.
・From fiscal year 24 to fiscal year 25, sales of new mass-produced products continued to expand, but special demand ended and the Chinese market and consumer equipment market weakened. After that oh
Sales growth will accelerate due to mass production etc. of acquisition negotiations for tomotives. (Financial results briefing materials)
・The annual dividend for the previous fiscal year was increased, and the forecast for the current fiscal year was alsoIncrease in distributionsand announced.
・Financial results will be announced on April 26th. The next day's stock price8.9% higher。
・5/15 closing price (4478 yen) is 12.9% of the average target stock price (3900 yen) of the four analystsexceed. What is the target stock price range2600 to 5200 yen
・After the announcement, Mitsui Trust AM and others lowered their stock holdings in the company, and Nomura Securities and others increased their holdings.
[Summary]
What stood out in terms of the financial results response this time was early performanceExpectations for recoveryIn addition, full-year guidance (earnings forecasts) at the beginning of the fiscal yearconservativeThe fact that it is easy to become likely also seems to have been a factor. While the pace of recovery for smartphones, automobiles, etc. is slow, it is inevitable that demand for AI etc. will expand in the medium to long term. Regarding semiconductor manufacturing equipment,Peak in '26 (calendar year)It is expected that it will be welcomed. Used in AI data centers, etc.Increased demand for HBM (wideband memory)Active capital investment by memory manufacturers is expected from then on. There was a big decline in future expectations $Advantest (6857.JP)$、 $Screen Holdings (7735.JP)$、 $Shin-Etsu Chemical (4063.JP)$It seems easy to enter things like that. However, AdvantestImproving profit marginsShin-Etsu ChemicalThe outlook for the vinyl chloride businessIt is necessary to be careful.
What stood out in terms of the financial results response this time was early performanceExpectations for recoveryIn addition, full-year guidance (earnings forecasts) at the beginning of the fiscal yearconservativeThe fact that it is easy to become likely also seems to have been a factor. While the pace of recovery for smartphones, automobiles, etc. is slow, it is inevitable that demand for AI etc. will expand in the medium to long term. Regarding semiconductor manufacturing equipment,Peak in '26 (calendar year)It is expected that it will be welcomed. Used in AI data centers, etc.Increased demand for HBM (wideband memory)Active capital investment by memory manufacturers is expected from then on. There was a big decline in future expectations $Advantest (6857.JP)$、 $Screen Holdings (7735.JP)$、 $Shin-Etsu Chemical (4063.JP)$It seems easy to enter things like that. However, AdvantestImproving profit marginsShin-Etsu ChemicalThe outlook for the vinyl chloride businessIt is necessary to be careful.
―MooMoo News Kathy
Source: Nihon Keizai Shimbun, Bloomberg, IR materials from various companies, moomoo
Source: Nihon Keizai Shimbun, Bloomberg, IR materials from various companies, moomoo
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Henky : I believe that the basic physical strength of the Shin-Etsu Chemical company is certain. However, stock prices rose only because of performance, but while PVC sales were the main force and there was a strong sense of uncertainty about that outlook, it was incomprehensible that only stock prices showed a bullish pattern.