[Alpha Biz=(Chicago) Reporter Paul Lee] Daishin Securities maintained its investment opinion "Marketperform" and target stock price of 12,000 won for Seoul Semiconductor on the 19th, saying its profitability improvement will be delayed in the first and fourth quarters of this year.

"Our operating profit in the first quarter of 2024 is -7 billion won, which is estimated to continue the deficit," Daishin Securities said. "The sales of LEDs for IT will be sluggish and the lighting sector will need time to improve its utilization rate, including continued price competition."

Daishin Securities added, "Given the need for changes in new growth factors such as micro LED flowering, short-term stock price hikes will be limited."

"It is difficult to expect significant improvement in performance due to slowing demand for TVs, which are front-line industries, increased global share of Chinese LCD panel makers and intensifying competition," said Daishin Securities Co. "Due to oversupply in lighting, changes in technology of TVs and mobile devices (expanding the proportion of OLED) will be a burden."

 

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