SMT shares closed the morning session at 6.80 baht, up 0.15 baht or 2.26%, after touching an intraday high of 6.90 baht, supported by three factors. First, positive sentiment in the electronics sector, with DELTA, HANA and KCE leading the market this morning after US employment figures came in below expectations, easing market worries that the Fed will accelerate rate hikes, while US semiconductor stocks surged on Friday night. Second, SMT has its own specific catalyst from its Optical business, which involves optical signal transmission and stands to grow with AI and data centers. Yuanta Securities expects orders from global Optical customers to gradually increase and sees a clearer impact on revenue and margin over the next two quarters. Third, Yuanta expects normal profit in the third quarter of 2026 to grow 65% quarter-on-quarter, and sees 2026 profit swinging from a loss of 146 million baht in 2025 to a profit of 150 million baht. For 2027, it expects profit to grow 88% year-on-year to 282 million baht. It has therefore raised its end-2027 fair value to 8.40 baht and maintained its buy recommendation. The closing price on 2 October already set a new 52-week high at 6.90 baht, while Yuanta's target price of 8.40 baht remains well above the current price.
Stars Microelectronics (Thailand) PCLYuanta expects SMT's 2026 profit to swing to 150 million baht from a 2025 loss and raised its fair value to 8.40 baht with a buy rating.
Hana Microelectronics Public Company Limited
KCE Electronics Public Company Limited
