Derivatives and Quantitative Strategist

Gaudenz Schneider

Equity Derivatives

<ul>
<li>
<a href="https://www.smartkarma.com/entities/samsung-electronics-co-ltd" target="_blank" data-smartkarma-citation="entities:191:1" rel="noopener">Samsung Electronics (005930 KS)</a> stabilised in the first half of August, gaining 4.6%, while the 2x Leveraged Index rose 6.8%.</li>
<li>Despite the rebound, leveraged ETFs recorded KRW 372bn of net outflows, reducing combined AUM by 2% in August MTD.</li>
<li>Investor flows—not performance alone—are driving AUM. Their effect on demand for Samsung shares may be amplified or offset by the ETFs’ daily leverage rebalancing.</li>
</ul>



Samsung Electronics (005930 KS) stabilised in the first half of August, gaining 4.6%, while the 2x Leveraged Index rose 6.8%.
Despite the rebound, leveraged ETFs recorded KRW 372bn of net outflows, reducing combined AUM by 2% in August MTD.
Investor flows—not performance alone—are driving AUM. Their effect on demand for Samsung shares may be amplified or offset by the ETFs’ daily leverage rebalancing.


Samsung Elec (005930 KS): August Gains Fail to Stem 2x Leveraged ETF Outflows

Semiconductor & Technology Specialist, Ingenuity

William Keating

Semiconductor & Technology Specialist

Ingenuity

Our focus is exclusively on in-depth research & consulting in the broader semiconductor industry. We focus on the key players, namely Intel, Micron, Qualcomm, Apple, Samsung, NVIDIA, AMD, TSMC & Global Foundries - as well as some of the lesser known, but nonetheless critical, companies such as ASML (for EUV), Mellanox, Cavium, Xilinx etc. We specialise in their products, roadmaps, process technologies, competitive advantages & threats etc. We also help our clients understand the implications of new and emerging technologies, e.g. 3D X-Point, 3D NAND, Carbon Nanotubes, Autonomous Driving, Graphene, Silicon Photonics, Wafer-Level Optics, Artificial Intelligence, FPGA, GPU, ASIC etc. 

Semiconductor Analysis & Research

Equity Bottom-Up

<ul>
<li>Samsung Electronics reported record Q1 2026 revenues of ₩134 trillion, record operating profit of ₩57.1 trillion, and an operating margin of 43%.</li>
<li>Revenue up 43% quarter-on-quarter. Operating profit up 185% QoQ. Net profit of ₩47 trillion, 2.4x the prior quarter. Earnings per share of ₩7,123  per common share</li>
<li>Long term agreements: "Unlike existing supply contracts based on mutual trust, these multi-year contracts represent a higher level of binding commitment." Oh boy!</li>
</ul>


Samsung Electronics reported record Q1 2026 revenues of ₩134 trillion, record operating profit of ₩57.1 trillion, and an operating margin of 43%.
Revenue up 43% quarter-on-quarter. Operating profit up 185% QoQ. Net profit of ₩47 trillion, 2.4x the prior quarter. Earnings per share of ₩7,123  per common share
Long term agreements: "Unlike existing supply contracts based on mutual trust, these multi-year contracts represent a higher level of binding commitment." Oh boy!


Samsung Q1 2026. The Sleeping Giant Awakens

External broker reports(aggregated public sources), Mirae Asset Securities

Mirae Asset Securities

External broker reports(aggregated public sources)

Mirae Asset Securities Co.,Ltd. provides comprehensive wealth management services. The Company offers fixed income securities brokerage, securities dealing, equity underwriting, and other services. Mirae Asset Securities also deals with mergers and acquisitions, foreign currency, and financial derivatives

<ul><li>We maintain our Buy rating and target price of W370,000 on Samsung Electronics (SEC).</li><li>While the stock has fallen sharply from its peak amid profit-taking and unfavorable market flows, we see no meaningful changes in the firm’s operating environment or the industry outlook and therefore view the current weakness as a buying opportunity.</li><li>The stock is currently trading at a 12-month forward P/B of 1.6x and P/E of 3.9x, back at pre-AI boom levels.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We maintain our Buy rating and target price of W370,000 on Samsung Electronics (SEC).While the stock has fallen sharply from its peak amid profit-taking and unfavorable market flows, we see no meaningful changes in the firm’s operating environment or the industry outlook and therefore view the current weakness as a buying opportunity.The stock is currently trading at a 12-month forward P/B of 1.6x and P/E of 3.9x, back at pre-AI boom levels.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Samsung Electronics (005930 KS/Buy)An Opportune Time to Increase Exposure

Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Douglas Research Advisory

<ul>
<li>Samsung Electronics paid out a final quarterly dividend of 566 won per common share and 567 won per preferred share. The total dividend amount reached approximately 3.75 trillion won. </li>
<li>All in all, the consensus DPS forecast of 3,291 won for Samsung Electronics in 2026 appears to be too low. </li>
<li>A more likely scenarios is for the consensus to raise the DPS forecast by 30-50% or more to 5,000 won+ (from 3,291 won) for 2026 in the next several months. </li>
</ul>


Samsung Electronics paid out a final quarterly dividend of 566 won per common share and 567 won per preferred share. The total dividend amount reached approximately 3.75 trillion won. 
All in all, the consensus DPS forecast of 3,291 won for Samsung Electronics in 2026 appears to be too low. 
A more likely scenarios is for the consensus to raise the DPS forecast by 30-50% or more to 5,000 won+ (from 3,291 won) for 2026 in the next several months. 


Samsung Electronics - Pays Out Special Dividend & Consensus Likely to Raise DPS by 30%+ for 2026

Equity Long-Short

Mo Aziz

Thematic (Sector/Industry)

<ul>
<li>
Two stocks explain the selling. Samsung and SK Hynix were 77% of September's foreign net selling and c.93% of January–July's. Outside them, foreigners are not leaving Korea.</li>
<li>
Timing and buyers matter. ₩102tn of the ₩135tn sold since May went in May–June; corporates bought ₩31.4tn in September. Buybacks are c.63% done and may finish by mid-October.</li>
<li>
The open question is FY27, not exports. Consensus profit sits c.24% above the Q3 run-rate. Samsung's expected 7–8 October prelims and post-buyback flows are the next tests.</li>
</ul>



Two stocks explain the selling. Samsung and SK Hynix were 77% of September's foreign net selling and c.93% of January–July's. Outside them, foreigners are not leaving Korea.

Timing and buyers matter. ₩102tn of the ₩135tn sold since May went in May–June; corporates bought ₩31.4tn in September. Buybacks are c.63% done and may finish by mid-October.

The open question is FY27, not exports. Consensus profit sits c.24% above the Q3 run-rate. Samsung's expected 7–8 October prelims and post-buyback flows are the next tests.


South Korea's Microchip Exports Are Booming. So Why Are Foreigners Still Selling Its Stock Market?

South Korea

Samsung Electronics Co., Ltd. manufactures a wide range of consumer and industrial electronic equipment and products such as semiconductors, personal computers, peripherals, monitors, televisions, and home appliances including air conditioners and microwave ovens. The Company also produces Internet access network systems and telecommunications equipment including mobile phones.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Samsung Electronics (SMSN LI)

Samsung Elec (005930 KS): August Gains Fail to Stem 2x Leveraged ETF Outflows

Samsung Electronics gained 4.6% in early August, but KRW 372bn of 2x leveraged ETF outflows cut AUM by 2%. Flows are shaping ETF-driven demand for...

Gaudenz Schneider

Samsung Q1 2026. The Sleeping Giant Awakens

Long term agreements: "Unlike existing supply contracts based on mutual trust, these multi-year contracts represent a higher level of binding...

William Keating

Samsung Electronics (005930 KS/Buy)An Opportune Time to Increase Exposure

While the stock has fallen sharply from its peak amid profit-taking and unfavorable market flows, we see no meaningful changes in the firm’s...

Mirae Asset Securities

Samsung Electronics - Pays Out Special Dividend & Consensus Likely to Raise DPS by 30%+ for 2026

Consensus DPS forecast of 3,291 won for Samsung Electronics in 2026 appears to be too low. I expect the consensus to raise the DPS forecast by 30...

Douglas Kim

South Korea's Microchip Exports Are Booming. So Why Are Foreigners Still Selling Its Stock Market?

Record chip exports, record foreign selling. The gap closes once you see who sold, when, and who bought: two stocks, mostly before exports peaked,...

Mo Aziz

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)