Micronics Japan surges to a 3-month high on SBI Securities’ target price hike (Wealth Advisor)

The story

Micronics Japan, a leading manufacturer of probe cards for semiconductor testing, surged to an intraday high of ¥16,790, up ¥1,380 from the previous day.

In a report dated the 6th, SBI Securities maintained its Buy rating on the company and raised its target price from ¥32,300 to ¥39,700. It cited capital investment for HBM and increased capital investment by Chinese DRAM manufacturers as demand tailwinds.

The brokerage expects large-scale investment by major customers in HBM4 and the resumption of NAND flash investment in Japan to provide further support. The stock closed on the 7th at ¥16,760, up ¥1,350 from the previous day.

At a glance

CompanyMICRONICS JAPAN CO., LTD.

Share priceIntraday high of ¥16,790, up ¥1,380 from the previous day; closing price ¥16,760

Target priceRaised to ¥39,700

Brokerage ratingSBI Securities maintained its Buy rating

CatalystsGrowing demand for HBM and the resumption of NAND investment are tailwinds

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