Announcement • Jun 02
Seoul Semiconductor Announces Mass Production of World-First High Voltage Opto-Semiconductor Technology for Automotive Brands Seoul Semiconductor Co., Ltd. announced that its world's first High Voltage (HV) opto-semiconductor technology has entered mass production with four of the world's top automotive brands across the Americas, Europe, and Asia, with plans to expand supply to 10 models by the end of the year. The technology combines micro-scaled opto-semiconductor chips capable of 12V single-chip operation — as opposed to conventional 3V LEDs — with a high-voltage (HV) driver technology. This enables a reduction of more than 10% in the number of driver-related components used in hybrid and electric vehicles, while lowering power consumption by approximately 10%, contributing to cost reduction and simplification of automotive electrical systems. The core of 'HV Opto-Semiconductor' technology is based on a Multi-Junction P-N structure within a single chip. Conventional 3V drive systems required voltage step-down conversion by a factor of 1/100 when applied to hybrid and electric vehicles equipped with 300V high-voltage batteries. By contrast, applying a 30V HV chip reduces the voltage conversion ratio to just 1/10, significantly cutting conversion losses. Previously, bridging such large voltage differences required multiple conversion circuits and components, resulting in substantial power loss, heat generation, and design complexity. Seoul Semiconductor's 'HV Opto-Semiconductor' technology minimizes the need for separate components, simplifying PCB design and reducing component count, while also lowering heat generation and improving durability. Compared to conventional 3V LEDs, it reduces driver costs by 20% and power consumption by 10%. Price Target Changed • May 13
Price target increased by 17% to ₩8,167 Up from ₩7,000, the current price target is an average from 3 analysts. New target price is 54% below last closing price of ₩17,690. Stock is up 158% over the past year. The company is forecast to post earnings per share of ₩167 next year compared to a net loss per share of ₩912 last year. Announcement • Mar 13
Seoul Semiconductor Co., Ltd., Annual General Meeting, Mar 26, 2026 Seoul Semiconductor Co., Ltd., Annual General Meeting, Mar 26, 2026, at 10:00 Tokyo Standard Time. Location: conference room, 97-11, sandan-ro 163beon-gil, danwon-gu, gyeonggi-do, ansan South Korea New Risk • Feb 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (10% average weekly change). Breakeven Date Change • Feb 14
Forecast breakeven date pushed back to 2027 The 4 analysts covering Seoul Semiconductor previously expected the company to break even in 2026. New consensus forecast suggests the company will make a profit of ₩14.8b in 2027. Average annual earnings growth of 109% is required to achieve expected profit on schedule. Reported Earnings • Aug 16
Second quarter 2025 earnings: EPS and revenues miss analyst expectations Second quarter 2025 results: ₩438 loss per share (further deteriorated from ₩163 loss in 2Q 2024). Revenue: ₩251.6b (down 11% from 2Q 2024). Net loss: ₩24.7b (loss widened 169% from 2Q 2024). Revenue missed analyst estimates by 4.8%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Semiconductor industry in South Korea. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Aug 13
Consensus EPS estimates fall by 111%, revenue upgraded The consensus outlook for fiscal year 2025 has been updated. 2025 revenue forecast increased from ₩1.06b to ₩1.07b. Forecast EPS reduced from -₩288 to -₩608 per share. Semiconductor industry in South Korea expected to see average net income growth of 16% next year. Consensus price target of ₩7,200 unchanged from last update. Share price was steady at ₩7,070 over the past week. Price Target Changed • May 13
Price target decreased by 7.7% to ₩7,200 Down from ₩7,800, the current price target is an average from 5 analysts. New target price is 6.2% above last closing price of ₩6,780. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₩148 next year compared to a net loss per share of ₩89.45 last year. Announcement • Mar 13
Seoul Semiconductor Co., Ltd., Annual General Meeting, Mar 27, 2025 Seoul Semiconductor Co., Ltd., Annual General Meeting, Mar 27, 2025, at 10:00 Tokyo Standard Time. Location: auditorium, 97-11, sandan-ro 163beon-gil, danwon-gu, gyeonggi-do, ansan South Korea Announcement • Feb 27
Seoul Semiconductor Presents a New Paradigm in Lighting with Natural Light Technology Seoul Semiconductor introduced natural light technology (sunlight) and displays as the new paradigm in lighting. The company announced on the 27th that it will participate in JAPAN SHOP 2025, Japan's larger commercial space design and display exhibition, held from March 4 to 7 at Tokyo Big Sight. At the exhibition, Seoul Semiconductor will focus on its innovative SunLike LED technology under the theme of "Lighting's Paradigm Shift." SunLike is the world’s first next-generation lighting solution to perfectly replicate the natural light spectrum, providing more than just lighting. Through clinical trials, the effects of "Better Eye," which helps prevent myopia and protect children's eye health, and "Better Study," which enhances learning efficiency and memory, have been confirmed. More details can be found on official website. Seoul Semiconductor has invested approximately 100 billion KRW annually in R&D for the past 20 years and currently holds over 18,000 patents in the LED industry. The company produces full-spectrum LEDs, VCSELs, and laser diodes, and has maintained its position as the number one company in the backlight sector since 2023. Visit Seoul Semiconductor's exhibition booth at JS4232. Price Target Changed • Feb 18
Price target decreased by 11% to ₩8,000 Down from ₩9,000, the current price target is an average from 5 analysts. New target price is 11% above last closing price of ₩7,190. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₩94.65 next year compared to a net loss per share of ₩397 last year. Announcement • Dec 26
Seoul Semiconductor Announces Philips Lighting Products Ordered to Recall 7-Year-Old Items The German District Court of Düsseldorf, on November 19 ruled in favor of Seoul Semiconductor in the patent infringement lawsuits, and also ordered that products manufactured by Philips Lighting and sold since March 2017 be recalled and destroyed. The Court also ruled that a fine of up to €250,000 would be imposed for each violation of this order. On December 17, the German Federal Patent Court also affirmed the validity of these patents, which solidifies the strength of many related patents. These court orders relate to the core technology used to achieve CRI 70 (Color Rendering Index 70%) or higher, applicable to all home lighting, automotive lighting products, IT flash, and backlights. Since the effects of these judgments are applicable to all products infringing on the patented technology, it is expected to have a ripple effect on markets worth over $100 billion for finished goods and over $10 billion for packages in the lighting, automotive, and IT sectors. Philips Lighting brand (currently Signify Group) is the world’s leading lighting company with 2023 annual revenue of approximately $7 billion. The Court ordered Conrad Electronic, the global distributor where these products are sold, to immediately cease the sale of certain products manufactured by affiliates of Philips Lighting brand, and also ordered the recall and destruction of infringing products distributed in the market since March 29, 2017. Additionally, the Court ruled that a fine of up to €250,000 per violation would be imposed for each non-compliance. This serves as a strong punitive measure to prevent the recurrence of such infringement activities. These court orders are applicable to all products with a CRI of 70 or higher, not just those manufactured by the affiliates of Philips Lighting brand. Particularly, by defeating the invalidation lawsuit filed by Philips Lighting, Seoul Semiconductor has strengthened the related patent technology. For the past 30 years, Seoul Semiconductor has been pursuing its vision of "clean, healthy, and beautiful with light," striving to shift the paradigm from harmful artificial lighting to the light of nature. To achieve this, the company invests nearly $100 million annually, about 10% of its revenue, in research and development (R&D). As a result, Seoul Semiconductor holds an overwhelming number of over 18,000 optoelectronic patents in the LED industry and has collaborated with Mitsubishi Chemical Corporation (MCC) for years on joint research and development to improve CRI. Upcoming Dividend • Dec 20
Upcoming dividend of ₩136 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 14 April 2025. The company is not currently making a profit but it is cash flow positive. Trailing yield: 1.9%. Lower than top quartile of South Korean dividend payers (3.9%). Higher than average of industry peers (0.8%). Declared Dividend • Nov 21
Dividend of ₩136 announced Shareholders will receive a dividend of ₩136. Ex-date: 27th December 2024 Payment date: 14th April 2025 Dividend yield will be 1.8%, which is higher than the industry average of 1.0%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (10% cash payout ratio). The dividend has decreased over the past 56 years, indicating a lack of growth and stability in payments. Announcement • Oct 14
Seoul Semiconductor Co., Ltd. and Seoul Viosys Announces Patent Enforcement Leads to LED Sales Ban of Infringing Products in Eight European Countries Seoul Semiconductor Co., Ltd. and its affiliate Seoul Viosys (together "Seoul") announced that the Unified Patent Court has issued a judgment ordering a sales ban, recall and destruction of products infringement Seoul's "No Wire" (WICOP) patent in eight European countries. According to the October 10, 2024 judgment, Expert e-Commerce, the third largest European online retailer with roughly $14 billion in annual revenue, has been ordered to stop selling infringing products in eight European countries. It was also ordered by the UPC to retrieve and destroy infringing products. Since the foundation of the UPC, Seoul is the first non-European patent holder to win a judgment in the main patent infringement proceedings. This judgment also set a record for the highest number of countries subject to the UPC's order for injunctions and recall and destruction of infringing products. In the past, patent infringement decisions were only effective on a country-by-country basis, forcing patentholders to spend significant time and cost in enforcing patents across different European countries. Seoul also encountered LED companies that evaded enforcement by merely changing product names and then continuing to sell infringing products, along with large corporations that intentionally purchased such products. However, this UPC decision will result in a comprehensive sales ban against infringing products across various European countries, and fully confirm the validity of Seoul's No-Wire patent. As a result, Seoul anticipatesift enforcement against infringers. Seoul's No Wire technology enables LED miniaturization and improves light extraction efficiency by enhancing light reflection and current spreading. These advantages are essential for high-efficiency LEDs in multiple industries, such as LEDs for mobile phone flash, micro LED displays, automotive headlamps, and high power lighting. Price Target Changed • May 22
Price target decreased by 10% to ₩10,000 Down from ₩11,167, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of ₩10,000. Stock is down 18% over the past year. The company is forecast to post earnings per share of ₩141 next year compared to a net loss per share of ₩397 last year. Announcement • Mar 06
Seoul Semiconductor Co., Ltd. Showcases the World’s First LED Lighting Solutions at the Lighting Trade Exhibition in Germany Seoul Semiconductor Co., Ltd. will participate in Light + Building 2024 to be held in Frankfurt, Germany from the 3rd to the 8th of March. At the event, Seoul Semiconductor will showcase its exclusive and the world’s first LED lighting solutions of the efficiency and quality of light Spectrum. Seoul Semiconductor is expected to unveil its ‘WICOP’ technology-based high-efficiency lighting system of 240 lumens per watt (lm/W), which is still the leading industry standard. Being the world’s first No-Wire and No-Package technology, WICOP is an ultra-small, high-efficiency LED technology designed to mount LEDs directly on a circuit board. At Light + Building, Seoul Semiconductor will exhibit applications using various wavelength bands from UV to IR/VCSEL. In addition, Seoul Semiconductor will also feature its ‘SunLike’ technology of the quality of light Spectrum. For the past five years, Seoul Semiconductor carried out multiple clinical trials with various leading institutions, including Harvard University, confirming that the use of SunLike lighting can improve myopia, cell regeneration, memory, and learning abilities. An interactive booth will be operated for a hands-on experience of SunLike. Upcoming Dividend • Dec 20
Upcoming dividend of ₩220 per share at 2.2% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 26 April 2024. The company is not currently making a profit but it is cash flow positive. Trailing yield: 2.2%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.0%). Price Target Changed • Oct 25
Price target increased by 8.3% to ₩11,917 Up from ₩11,000, the current price target is an average from 5 analysts. New target price is 14% above last closing price of ₩10,430. Stock is up 0.3% over the past year. The company is forecast to post earnings per share of ₩95.74 next year compared to a net loss per share of ₩19.51 last year. Price Target Changed • Jun 10
Price target decreased by 12% to ₩11,000 Down from ₩12,500, the current price target is an average from 5 analysts. New target price is 13% below last closing price of ₩12,600. Stock is down 1.6% over the past year. The company is forecast to post earnings per share of ₩55.30 next year compared to a net loss per share of ₩19.51 last year. Major Estimate Revision • Feb 12
Consensus revenue estimates decrease by 14% The consensus outlook for fiscal year 2023 has been updated. 2023 revenue forecast fell from ₩1.15b to ₩990.9m. EPS estimate reaffirmed at ₩531. Net income forecast to shrink 25% next year vs 3.0% growth forecast for Semiconductor industry in South Korea . Consensus price target of ₩12,500 unchanged from last update. Share price was steady at ₩10,950 over the past week. Upcoming Dividend • Dec 21
Upcoming dividend of ₩460 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 26 April 2023. Payout ratio and cash payout ratio are on the higher end at 81% and 93% respectively. Trailing yield: 4.2%. Within top quartile of South Korean dividend payers (3.3%). Higher than average of industry peers (1.8%). Major Estimate Revision • Nov 16
Consensus EPS estimates fall by 21% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ₩1.21b to ₩1.14b. EPS estimate also fell from ₩719 per share to ₩571 per share. Net income forecast to shrink 5.0% next year vs 22% growth forecast for Semiconductor industry in South Korea . Consensus price target of ₩11,333 unchanged from last update. Share price was steady at ₩11,300 over the past week. Board Change • Nov 16
No independent directors There are 5 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 5 new directors. No experienced directors. 1 highly experienced director. No independent directors (6 non-independent directors). Chairman of the Board & President Jeong-Hoon Lee is the most experienced director on the board, commencing their role in 2013. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of board continuity. Lack of experienced directors. Announcement • Sep 16
Seoul Semiconductor Applies Violeds Disinfection Technology to Luxury Sedan Genesis G90 UV-C disinfection technology solution, Violeds, developed by Seoul Semiconductor Co., Ltd. is installed in the console boxes of Genesis, a global luxury vehicle brand, with the disinfection technology. Luxury sedan Genesis G90 was officially launched for the market in the first half of 2022. The armrest console box in the back of G90 is equipped with UV-C LED lamps to disinfect passengers’ belongings in preparation for the era of COVID-19. Seoul Semiconductor’s violeds technology is applied to these UV-C LED lamps. Depending on its models, 6 to 12 LED lamps are installed, eliminating up to 99.9% of harmful germs (E.coli, staphylococcus aureus, and pneumobacilli) in personal possessions within 10 minutes after the lid is closed. The test results offered by Hyundai Motor Company and validated by Intertek, a global testing and certification agency, are subject to change depending on real environments. Violeds is a patented solution developed and massively applied for the first time in the world by Seoul Viosys, Seoul Semiconductor’s subsidiary. It prevents the growth of germs and bacteria with UV LEDs. According to 2021 data from Omdia, a market research agency, Seoul Viosys ranks 1st in the world in UV LED technology. Seoul Viosys has successfully developed air sterilization solutions, as well as violeds-based surface disinfection systems. In August 2021, the company held a press conference to release its solution to prevent the spread of the delta variant, which is able to remove 99% of indoor airborne viruses. Based on the test results, it demonstrated the process of disinfecting auto air conditioning systems at CES 2022, making its technological prowess be globally recognized. Based on more than 30 years of R&D experiences in optical semiconductor, Seoul Semiconductor has successfully established a product portfolio with all wavelength bands (200 ~ 1,600nm) from UV to visible rays and IR (VCSEL) applicable to auto solutions, holding 18,000 tech patents and thereby maintaining technological superiority in global markets. Price Target Changed • Sep 15
Price target decreased to ₩14,333 Down from ₩15,688, the current price target is an average from 6 analysts. New target price is 29% above last closing price of ₩11,100. Stock is down 32% over the past year. The company is forecast to post earnings per share of ₩604 for next year compared to ₩878 last year. Major Estimate Revision • Aug 12
Consensus EPS estimates fall by 19% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ₩1.21b to ₩1.18b. EPS estimate also fell from ₩546 per share to ₩443 per share. Net income forecast to shrink 3.6% next year vs 39% growth forecast for Semiconductor industry in South Korea . Consensus price target of ₩15,500 unchanged from last update. Share price was steady at ₩11,350 over the past week. Major Estimate Revision • Jul 14
Consensus EPS estimates fall by 41% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ₩1.27b to ₩1.20b. EPS estimate also fell from ₩753 per share to ₩447 per share. Net income forecast to grow 45% next year vs 40% growth forecast for Semiconductor industry in South Korea. Consensus price target of ₩15,500 unchanged from last update. Share price was steady at ₩10,550 over the past week. Announcement • Jul 12
Seoul Semiconductor Co., Ltd. to Report Q2, 2022 Results on Aug 10, 2022 Seoul Semiconductor Co., Ltd. announced that they will report Q2, 2022 results on Aug 10, 2022 Major Estimate Revision • May 05
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from ₩1.31b to ₩1.29b. EPS estimate also fell from ₩921 per share to ₩796 per share. Net income forecast to shrink 2.5% next year vs 30% growth forecast for Semiconductor industry in South Korea . Consensus price target down from ₩17,611 to ₩16,556. Share price was steady at ₩13,600 over the past week. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Inside Director Hyun-Jong Yu was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. Inside Director Hyun-Jong Yu was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Price Target Changed • Mar 05
Price target decreased to ₩16,688 Down from ₩18,833, the current price target is an average from 7 analysts. New target price is 24% above last closing price of ₩13,500. Stock is down 31% over the past year. The company is forecast to post earnings per share of ₩988 for next year compared to ₩1,142 last year. Major Estimate Revision • Mar 04
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from ₩860 to ₩996. Revenue forecast unchanged at ₩1.34b. Net income forecast to shrink 18% next year vs 44% growth forecast for Semiconductor industry in South Korea . Consensus price target of ₩17,722 unchanged from last update. Share price was steady at ₩13,500 over the past week. Major Estimate Revision • Feb 17
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate fell from ₩1,018 to ₩860. Revenue forecast unchanged from ₩1.30b at last update. Net income forecast to shrink 18% next year vs 45% growth forecast for Semiconductor industry in South Korea . Consensus price target down from ₩18,833 to ₩17,722. Share price fell 8.2% to ₩13,400 over the past week. Reported Earnings • Feb 14
Full year 2021 earnings: EPS misses analyst expectations Full year 2021 results: EPS: ₩1,142 (up from ₩310 in FY 2020). Revenue: ₩1.30t (up 13% from FY 2020). Net income: ₩64.4b (up 263% from FY 2020). Profit margin: 5.0% (up from 1.5% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 100%. Over the next year, revenue is forecast to grow 1.4%, compared to a 33% growth forecast for the industry in South Korea. Over the last 3 years on average, earnings per share has fallen by 15% per year whereas the company’s share price has fallen by 19% per year. Announcement • Jan 18
Seoul Semiconductor Proves the Effect of SunLike Lighting on Myopia Improvement Seoul Semiconductor Co., Ltd. announced on the 17th that it has confirmed SunLike lighting’s effect on improving myopia, along with SERI_Singapore Eye Research Institute. In order to prove the correlation between health and SunLike, a natural lighting technology developed through years of R&D, Seoul Semiconductor has been conducting experiments with Seoul National University, Basel University, and Harvard University since 2017. This time, with Singapore SERI, the effect of natural lighting on myopia improvement was tested. In this experiment, chicks, whose eyes are similar to humans’, were exposed to different lightings and then the length of their eyeballs was monitored, which is the cause of myopia. First, one eye of the chicks was covered with a myopia-causing cover for 14 days to induce myopia. After that, the cover was removed, and the group 1 was exposed to a conventional fluorescent lamp of 4000K, and the group 2 and 3 were exposed to the SunLike of 4000K and 6500K, respectively. As a result of measuring the length of the chicks' eyeballs (the effect of myopia), while the chicks in the fluorescent lighting group had myopia worsened because the length of their eyeballs grew longer continuously, the eyeball length of chicks in the SunLike lighting group was restored to the normal size. This is an indirect confirmation that myopia can be improved to a degree close to normal when using SunLike lighting. This experimental result on the correlation between SunLike lighting and myopia was published in bioRxiv, an online journal specializing in life sciences. Buying Opportunity • Jan 13
Now 21% undervalued Over the last 90 days, the stock is up 9.8%. The fair value is estimated to be ₩20,549, however is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 20% per annum over the last 3 years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩157 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 27 April 2022. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 1.1%. Lower than top quartile of South Korean dividend payers (2.4%). Higher than average of industry peers (0.9%). Price Target Changed • Oct 18
Price target decreased to ₩21,450 Down from ₩23,750, the current price target is an average from 10 analysts. New target price is 45% above last closing price of ₩14,750. Stock is down 21% over the past year. Announcement • Sep 15
Seoul Semiconductor to Launch WICOP TE for Headlamps With Thermal Management Effect for Electric Vehicles Seoul Semiconductor Co., Ltd. announced that it launches WICOP TE (Top Electrode) designed to significantly improve the thermal efficiency of headlamps for vehicles. WICOP LED was applied to 10% of the global vehicle production in 2020, and is expected to see an increasing demand in the future electric vehicle market. Seoul Semiconductor expects to accelerate the move to expand its market share in the global automotive lighting LED market worth approximately USD 2.7 billion. Due to the growing demand for electric vehicles, the interest in high-efficiency LED products for a light headlamp and less batteries consumption is increasing. Accordingly, the thermal dissipation performance of the headlamp has become an important task in order to improve the efficiency and lifetime against the temperature increase. Seoul Semiconductor’s WICOP TE for headlamps has deviated from the previous method of attaching the LED package to the printed circuit board (PCB) and can attach the package directly on the heatsink, designed to quickly discharge the heat generated in the headlamp. The WICOP is the second generation technology of the LED industry and Seoul Semiconductor obtained a permanent injunction against 13 automotive lighting brand LED products infringing WICOP patents in 2021 July. Seoul Semiconductor will introduce this new ‘WICOP TE’ products, the natural sunlight spectrum LED ‘SunLike’ with the luxurious interior colors and beneficial effects on learning and good sleep, and UV LED ‘Violeds’ for disinfection in the automotive air conditioning systems at the DVN workshop in the U.S. on September 21, 2021. Reported Earnings • Aug 10
Second quarter 2021 earnings released: EPS ₩319 (vs ₩87.44 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ₩336.8b (up 26% from 2Q 2020). Net income: ₩18.6b (up 271% from 2Q 2020). Profit margin: 5.5% (up from 1.9% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Announcement • Aug 06
Seoul Semiconductor Co., Ltd. Provides Revenue Guidance for the Third Quarter of Fiscal Year 2021 Seoul Semiconductor Co., Ltd. provided revenue guidance for the third quarter of fiscal year 2021. For the quarter, the company expects its revenue to be between KRW 340 billion and KRW 360 billion growing 3% to 9% year on year. Major Estimate Revision • Jul 09
Consensus forecasts updated The consensus outlook for 2021 has been updated. 2021 EPS estimate increased from ₩856 to ₩969. Revenue forecast steady at ₩1.34b. Net income forecast to grow 124% next year vs 64% growth forecast for Semiconductor industry in South Korea. Consensus price target of ₩23,750 unchanged from last update. Share price fell 2.4% to ₩18,500 over the past week. Announcement • May 25
Seoul Semiconductor Co., Ltd.’s SunLike Natural Sun Spectrum LED Technology Replaces Lighting Acting as Artificial Growth Promoter in Cow Seoul Semiconductor Co., Ltd. announced that its SunLike natural sun spectrum LEDs have been selected for horticultural lighting in agriculture laboratories of INRAE, l'Institut national de recherche pour l’agriculture, l’alimentation et l’environnement, located in France. In cooperation with GreenHouseKeeper, one of the most well-known companies in the horticulture and plants research field in France, the company developed a new and innovative solution for optimal horticulture LED lighting design for INRAE laboratories in France. INRAE aimed at reproducing a light that closely matches the natural sun spectrum from UV to IR in order to experiment with the agriculture stages such as the growth and flowering of sunflowers in the indoor laboratories. Accordingly, GreenHouseKeeper adopted an innovative SunLike LED technology to meet challenging design requirements, and developed a horticulture LED lighting solution that enables to reproduce four seasonal conditions of the year. Seoul Semiconductor has conducted experiments on lettuce using SunLike LED lighting and LED lighting with red and blue. The experiment found that lettuce under the red LED light grows abnormally with a lack of texture and nutritional content as if cows are forced to drink water in order to increase their weight, and even quickly dries even with small damages. However, lettuce was found to have grown better in weight, texture, and nutritional content when grown under SunLike LEDs like crops cultivated under natural sunlight. Is New 90 Day High Low • Mar 09
New 90-day low: ₩18,500 The company is down 4.0% from its price of ₩19,350 on 09 December 2020. The South Korean market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 15% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩10,170 per share. Announcement • Jan 27
Seoul Semiconductor Co., Ltd. to Report Fiscal Year 2020 Results on Feb 08, 2021 Seoul Semiconductor Co., Ltd. announced that they will report fiscal year 2020 results on Feb 08, 2021 Announcement • Jan 12
Seoul Semiconductor and Seoul Viosys Introduce Four Application Solutions Applied the World's First LED Technologies At CES 2021 Seoul Semiconductor Co., Ltd. and Seoul Viosys announced that they are participating in the world’s largest consumer electronics trade show ‘All Digital CES 2021’ from January 11 to 14 (EST), and introduce four application solutions with the world’s first LED technologies. Under the theme of ‘Light Everywhere’ and the concept of ‘Light for every moment’, Seoul Semiconductor and Seoul Viosys introduce the 2nd generation LED technology which can be applied in applications including display, automobile, consumer electronics, lighting and more. During this year’s CES, both companies introduce their world-first technologies. The core technology of miniLED and microLED display, Micro Clean Display and WICOP; a laser diode technology enabling safe autonomous driving, VCSEL (Vertical Cavity Surface Emitting Laser); SunLike with 3 USPs: Better Study – support for students’ learning and concentration; Better Eye – protection from myopia in children; Better Immunity – support for immune system boost; and a safe and new-concept UV LED technology enabling virus disinfection within a second, Violeds. This year’s CES will take place online. Seoul Semiconductor and Seoul Viosys will hold seminar sessions on both January 12th and 13th to introduce four application solutions, and they plan to exhibit the products to visitors via 1:1 Chat. Is New 90 Day High Low • Jan 07
New 90-day high: ₩21,750 The company is up 18% from its price of ₩18,450 on 08 October 2020. The South Korean market is up 23% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 40% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩13,793 per share. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩156 Per Share Will be paid on the 27th of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.8% is below the top quartile of South Korean dividend payers (2.6%), but is in line with industry peers (0.8%). Is New 90 Day High Low • Dec 15
New 90-day high: ₩20,300 The company is up 11% from its price of ₩18,250 on 16 September 2020. The South Korean market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 24% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩13,546 per share. Price Target Changed • Oct 27
Price target raised to ₩21,450 Up from ₩20,020, the current price target is an average from 10 analysts. The new target price is 19% above the current share price of ₩18,000. As of last close, the stock is up 32% over the past year. Announcement • Oct 16
Seoul Semiconductor Co., Ltd. Introduces Next-Generation WICOP UHL (Ultra High Luminance) Series LEDs Seoul Semiconductor Co., Ltd. announced the introduction of its next-generation WICOP UHL (Ultra High Luminance) Series LEDs, which reduce headlamp power consumption up to 20% for electric vehicles, with an improvement of heat dissipation performance up to 40%. The company will begin mass production in 2021 and with promotions to key customers. The weight of lamp heat sink structure can be reduced by 75% and the structure of Mini LED patented technology. Several companies’ products described as a Flip Chip are copying Seoul’s WICOP patented technology. Is New 90 Day High Low • Oct 13
New 90-day high: ₩20,150 The company is up 38% from its price of ₩14,600 on 15 July 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is up 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is ₩10,042 per share. Announcement • Sep 24
Seoul Semiconductor Co., Ltd. Announces Selection of its SunLike Series Natural Spectrum LEDs by German Lighting Brand Simprolux Seoul Semiconductor Co., Ltd. announced that its SunLike Series natural spectrum LEDs, which implement light that closely matches the spectrum of sunlight, has been adopted by German lighting brand Simprolux for its pendant luminaire “ORTUS”. ORTUS is a premium product line that delivers residential lighting for dining table and study or work spaces, combining with Casambi Technologies Oy’s automated wireless Bluetooth. With SunLike Series natural spectrum LEDs, the fixture are designed to bring out the natural color tones of objects achieving a lower blue light peak, similar to the sunlight spectral curve, which enables the reduction of scattered reflection and glare. It also provides healthy and comfortable light, improving the environment for living, reducing eye fatigue, and displaying colors and textures more accurately with CRI 97 and TM30 = 100. There has been a significant increase in research activity on the relationship between light and human bio-functions, including a recent scientific study focused on the effects of light spectrum on sleep quality, visual comfort, overall well-being, and daytime alertness; encompassing the interaction of both visual and non-visual light on humans. Based on the results of a comprehensive sleep study conducted by Professor Christian Cajochen and his colleagues at the University of Basel in Switzerland, SunLike Series natural spectrum LEDs have been identified as a key light source for promoting human well-being. The study, published in the Journal of Lighting & Research Technology on March 24, 2019, found “evidence that a daylight [natural spectrum] LED solution has beneficial effects on visual comfort, daytime alertness, mood, and sleep intensity in healthy volunteers.” SunLike Series LEDs are an advanced technology that has achieved the high level of eye safety certification from the International Commission on Illumination as a safe light source with no photo-biological risks. Introduced in June 2017, the SunLike Series natural spectrum LEDs are an advanced light source that combine the latest optical and compound semiconductor technology of Seoul Semiconductor with Toshiba Materials’ TRI-R® technology. TRI-R, supported by Toshiba Materials, finds in the definition “The light closest to the sun for human well-being” its original concept. The sun light spectrum is developed by the same company and can be reproduced by a white LED light source technology. TRI-R is a registered trademark by the Toshiba Materials Co., LTD. Announcement • Sep 23
Seoul Semiconductor Co., Ltd. Supplies WICOP Bi-Color LED Products Seoul Semiconductor Co., Ltd. announced that it has supplied WICOP Bi-color (2 colors in one package) LED products for the daytime running lights and front turn signals of the 2020 Audi A4 (B9 facelift) headlamp. This is the first example of Seoul Semiconductor's WICOP product being mounted on an Audi headlamp. WICOP Bi-color LED is a core patented technology of Seoul Semiconductor that realizes both white and yellow in one package. It is designed to directly mount the LED chip on the board without an additional package. In the meantime, Seoul Semiconductor has already developed the more compact WICOP Gen2 mini Bi-color emitter while including the advantages of the existing WICOP in combination with even slimmer footprint. WICOP technology is widely applied not only to vehicle lighting, but also to high-brightness TVs and LCD backlights for mobile phones, flash for smartphone cameras, and high-power general lighting, as it has excellent thermal conductivity and is easy to configure light, thin and compact lenses.