The stocks most heavily bought on a net basis by high-performing investors trading through Mirae Asset Securities (006800) on the morning of the 22nd were Korea Circuit (007810), Samsung Electronics (005930) and Samsung E&A (028050), in that order. SK hynix (000660), Samsung Electro-Mechanics (009150) and Samsung SDI (006400) ranked among the most heavily sold.
According to Mirae Asset Securities on the 22nd, clients ranking in the top 1% by investment returns over the past month bought Korea Circuit more than any other stock through 11 a.m. that day. At that time, Korea Circuit was quoted at 73,700 won, up 2.22% from the previous session.
Korea Circuit, listed on the KOSPI, is drawing attention on expectations that rising sales of substrates for SoCAMM will lift earnings. Meritz Securities (008560) maintained a buy rating on the stock on the 20th and raised its target price to 100,000 won. It estimated third-quarter revenue on a standalone basis at 301.4 billion won, up 32.4% from a year earlier, and operating profit at 19.6 billion won, up 60.6%.
Operating profit including consolidated subsidiaries is expected to exceed the market consensus of 17.2 billion won by a slim 3.2%. "Mass-production revenue related to SoCAMM began in earnest in July," said Yang Seung-soo, an analyst at Meritz Securities. "Supply volumes in the fourth quarter are expected to rise about 50% from the third quarter."
Samsung Electronics ranked second in net buying. The stock, which closed 5.67% higher in the previous session, was down more than 2% in morning trading. Still, the high-performing investors continued buying heavily after ranking it third in net purchases the previous day. Samsung Electronics preferred shares (005935) ranked fifth in net buying, putting both the common and preferred shares among the top purchases.
Samsung E&A, third in net buying, surged more than 16% from the previous session after announcing strong earnings and a large shareholder-return plan. The company said in a regulatory filing that preliminary third-quarter revenue on a consolidated basis came to 2.9105 trillion won and operating profit to 500.6 billion won, up 45.8% and 183.6% from a year earlier, respectively.
The company is also expanding shareholder returns. Samsung E&A said it will buy back about 780 billion won worth of its own shares from the 23rd of this month through Jan. 22 next year. Of that, 690 billion won worth will be cancelled, with the remaining 90 billion won to be used for employee compensation and other purposes.
Meanwhile, the most heavily sold stocks on the day were SK hynix, Samsung Electro-Mechanics and Samsung SDI, in that order. Samsung Electro-Mechanics and SK hynix, the top two net purchases the previous day, moved into the top net-selling ranks. With Samsung Electronics remaining among the top net purchases, trading direction diverged even among large-cap chip stocks. The previous day's top net sales included Doosan Enerbility (034020), Samsung Electronics preferred shares and SK (034730).
