Corporate Logo(source: samsung.com)
IBK Investment & Securities said on October 15 that Samsung Electronics (005930)’s stronger-than-expected performance in the third quarter was mainly led by improvements in its semiconductor business, or Device Solutions (DS) division. The brokerage maintained its “buy” rating and target price of 110,000 won.
Kim Yoon-ho, an analyst at IBK Investment & Securities, noted, “Memory demand driven by expanded AI investment is now gaining momentum. Prices of both DRAM and NAND are expected to continue rising, which should keep the company’s share price strong for the time being.”
Samsung Electronics’ preliminary third-quarter revenue came to 86 trillion won, up 15.3 percent from the previous quarter, while operating profit surged 2.6 times to 12.1 trillion won. Of this, the DS division contributed around 6.5 trillion won in profit growth.
Kim explained, “The key drivers were the price increases stemming from stronger demand for DRAM and SSD, as well as the expanded supply of high-bandwidth memory (HBM). In particular, DRAM saw a significant improvement in cost efficiency, as one-off expenses reflected in the second quarter did not recur.”
He added, “The non-memory division is also expected to have posted an operating profit improvement of more than 1.5 trillion won compared with the previous quarter, supported by higher shipments of CMOS image sensors and Exynos chips, along with cost reductions.”
Kim concluded, “Concerns surrounding HBM are likely to ease significantly by 2026, and Samsung Electronics is expected to secure a meaningful market share in the HBM4 segment.”
*[KOSPI]Samsung Electronics(005930) is the top company in the KOSPI, dominating the global market in semiconductors and smartphones. Its market capitalization is 542.239 trillion (as of Octorber 14, 2025, closing price).
Corporate Logo(source: samsung.com)
IBK Investment & Securities said on October 15 that Samsung Electronics (005930)’s stronger-than-expected performance in the third quarter was mainly led by improvements in its semiconductor business, or Device Solutions (DS) division. The brokerage maintained its “buy” rating and target price of 110,000 won.
Kim Yoon-ho, an analyst at IBK Investment & Securities, noted, “Memory demand driven by expanded AI investment is now gaining momentum. Prices of both DRAM and NAND are expected to continue rising, which should keep the company’s share price strong for the time being.”
Samsung Electronics’ preliminary third-quarter revenue came to 86 trillion won, up 15.3 percent from the previous quarter, while operating profit surged 2.6 times to 12.1 trillion won. Of this, the DS division contributed around 6.5 trillion won in profit growth.
Kim explained, “The key drivers were the price increases stemming from stronger demand for DRAM and SSD, as well as the expanded supply of high-bandwidth memory (HBM). In particular, DRAM saw a significant improvement in cost efficiency, as one-off expenses reflected in the second quarter did not recur.”
He added, “The non-memory division is also expected to have posted an operating profit improvement of more than 1.5 trillion won compared with the previous quarter, supported by higher shipments of CMOS image sensors and Exynos chips, along with cost reductions.”
Kim concluded, “Concerns surrounding HBM are likely to ease significantly by 2026, and Samsung Electronics is expected to secure a meaningful market share in the HBM4 segment.”
*[KOSPI]Samsung Electronics(005930) is the top company in the KOSPI, dominating the global market in semiconductors and smartphones. Its market capitalization is 542.239 trillion (as of Octorber 14, 2025, closing price).