On July 21, GigaDevice (03986.HK) rose 4.5% in regular trading, trading at 552.0 HKD/share, with turnover of 529 million HKD. The stock had previously declined over 20% across three consecutive trading days (July 16-20), triggering an abnormal trading volatility alert.
On the news front, the company issued an announcement confirming normal business operations with no undisclosed material matters, helping alleviate market concerns over fundamentals. Additionally, BOCOM International initiated coverage on GigaDevice with a Buy rating and a target price of 907 HKD for the Hong Kong-listed shares, implying 32x 2027 earnings and significant upside from the current level.
BOCOM International noted that major overseas memory manufacturers including Samsung, SK Hynix, Micron, and Kioxia are continuously exiting niche DRAM and SLC NAND Flash capacity, creating a supply gap that opens a capacity substitution window for GigaDevice. The firm projects the global specialty memory market to grow from $168 billion in 2025 to $403 billion in 2026.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)