[Click e-Stock] "Pemtron: Focus on Business Expansion in Semiconductor Equipment Division"

Kiwoom Securities stated on November 27 that attention should be paid to the business expansion potential of the semiconductor equipment division at Pemtron. The company did not provide an investment opinion or target price.

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Oh Hyunjin, an analyst at Kiwoom Securities, said, "Pemtron's 8800WIR High Bandwidth Memory (HBM) equipment is a 3D inspection device that detects micro-defects during the stacking process of HBM. It enables preemptive defect detection compared to existing solutions, which is understood to help improve HBM process yield." He added, "We believe there is high visibility for continuous follow-up orders, and we estimate new orders next year to be in the range of 30 to 40 units."

He also emphasized that the performance of the module inspection equipment 'MARS' should be noted. He said, "Pemtron is providing next-generation memory module inspection equipment for global IDM companies. With the recent development of inspection equipment capable of handling both SOCAMM and LPCAMM, the company expects to achieve results such as new orders."

For the fourth quarter of this year, the expected revenue and operating profit are 24 billion won and 5.1 billion won, respectively, with revenue projected to increase by 69% year-on-year and operating profit expected to turn positive. He explained, "This is due to the full-scale sales of the high-priced '8800WIR HBM' equipment. Except for one unit recognized in the third quarter based on the disclosed supply contract, the remaining units are expected to be fully recognized as sales within the year. We expect solid performance growth to be driven by subsequent orders going forward."

For next year, revenue and operating profit are expected to reach 149.2 billion won and 36 billion won, respectively, representing increases of 114% and 947% compared to the previous year. He stated, "These projections only reflect the HBM inspection equipment division, which has high visibility for follow-up orders. Additional growth is possible depending on new orders for SOCAMM inspection equipment and the expansion of customer bases for various semiconductor inspection devices in the future."

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