Movement Alert｜SMIC Rises 3.37% in Regular Trading, UBS Upgrades to Buy Ahead of Q2 Earnings Release

Market Focus

Aug 12

On August 12, SMIC rose 3.37% in regular trading, trading at 67.5 HKD/share, with turnover of 19.01 billion HKD. The rally was driven by a dual catalyst of an investment bank upgrade and upcoming earnings expectations.

On the news front, UBS upgraded SMIC from Neutral to Buy on August 10, raising the target price significantly from 76 HKD to 96.2 HKD. The bank expects SMIC to achieve a revenue compound annual growth rate of 23% from 2026 to 2028, supported by rising localization demand, semiconductor upcycle inventory replenishment, healthy capacity utilization, ASP improvement, and increasing advanced process contributions.

Additionally, the company is scheduled to release its Q2 earnings on August 13. Market consensus expects quarterly revenue of USD 2.816 billion, representing a 29.18% year-over-year increase, with EBIT projected to surge 123.87% year-over-year. The strong earnings outlook further bolstered market sentiment ahead of the release.

Within the Semiconductors sector, peers also traded higher, with HUA HONG GRACE up 7.05%, MONTAGE TECH up 6.31%, GIGADEVICE up 5.1%, BIREN TECH up 4.76%, and ILUVATAR COREX up 2.27%.

(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.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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The rally was driven by a dual catalyst of an investment bank upgrade and upcoming earnings expectations.</p><p>On the news front, UBS upgraded SMIC from Neutral to Buy on August 10, raising the target price significantly from 76 HKD to 96.2 HKD. The bank expects SMIC to achieve a revenue compound annual growth rate of 23% from 2026 to 2028, supported by rising localization demand, semiconductor upcycle inventory replenishment, healthy capacity utilization, ASP improvement, and increasing advanced process contributions.</p><p>Additionally, the company is scheduled to release its Q2 earnings on August 13. Market consensus expects quarterly revenue of USD 2.816 billion, representing a 29.18% year-over-year increase, with EBIT projected to surge 123.87% year-over-year. 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The bank expects SMIC to achieve a revenue compound annual growth rate of 23% from 2026 to 2028, supported by rising localization demand, semiconductor upcycle inventory replenishment, healthy capacity utilization, ASP improvement, and increasing advanced process contributions.Additionally, the company is scheduled to release its Q2 earnings on August 13. Market consensus expects quarterly revenue of USD 2.816 billion, representing a 29.18% year-over-year increase, with EBIT projected to surge 123.87% year-over-year. The strong earnings outlook further bolstered market sentiment ahead of the release.Within the Semiconductors sector, peers also traded higher, with HUA HONG GRACE up 7.05%, MONTAGE TECH up 6.31%, GIGADEVICE up 5.1%, BIREN TECH up 4.76%, and ILUVATAR COREX up 2.27%.(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. 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