Top 1% high-return investors at Mirae Asset Securities net sold SK Hynix and Samsung Electronics on the morning of May 28, according to data from the brokerage. SK Hynix ranked as the most net-sold stock for the second consecutive trading day, driven by concerns over Chinese memory industry competition following CXMT's Shanghai listing and a sharp decline in US semiconductor stocks overnight. The sell-off occurred despite SK Hynix reporting Q2 revenue of 79.3187 trillion won and operating profit of 60.5426 trillion won, which fell slightly short of the market estimate of 64 trillion won.
SK Hynix Reports Q2 Earnings Below Market Estimates
SK Hynix announced preliminary Q2 results before market open on May 28. Revenue reached 79.3187 trillion won and operating profit totaled 60.5426 trillion won, representing year-over-year increases of 256.8% and 557.2% respectively. The company's first-half revenue totaled 131.8950 trillion won with operating profit of 98.1529 trillion won. The Q2 operating profit figure came in below the market consensus estimate of 64 trillion won.
As of 11am on May 28, SK Hynix shares traded at 1,419,000 won, down 8.45% from the previous trading day. Mirae Asset Securities analyst Kim Young-gun lowered the target price for SK Hynix from 4.2 million won to 2.8 million won. Kim stated that while the recent price correction appears excessive relative to fundamentals, target price adjustments are unavoidable due to the valuation framework linked to global peers and industry-wide stock declines.
Samsung Electronics Declines 3.41% Amid Semiconductor Sector Weakness
Samsung Electronics ranked second in net selling among top investors at Mirae Asset Securities. The stock traded at 212,500 won as of 11am on May 28, down 3.41% from the previous session. Samsung Electronics preferred shares ranked third in net selling, trading at 154,000 won, down 2.65%.
Yuanta Securities analyst Son In-jun stated that Q3 memory price negotiations are proceeding smoothly. Son noted that amid continued shortages of general-purpose DRAM and NAND, customers prioritize securing supply over price. Daedeok Electronics ranked fourth in net selling on May 28.
LS Electric and TESS Lead Net Buy Rankings
The top net-bought stocks on May 28 included LS Electric, TESS, OCI Holdings, and HYBE. On the previous trading day, net buying was led by Samsung Electronics, SK Telecom, Samsung Electro-Mechanics, and SK. Net selling on the previous day was topped by SK Hynix, Dalba Global, Doosan Tesna, and Samsung Life Insurance.
Mirae Asset Securities discloses real-time, daily, and five-day trading data for stocks bought and sold by its top 1% customers by monthly investment return through its mobile trading system. The brokerage notes that the statistics are provided for informational purposes only, are unrelated to the firm's investment opinions, and do not guarantee investment performance.
FAQ
What did top investors at Mirae Asset Securities do on May 28?
Top 1% high-return investors at Mirae Asset Securities net sold SK Hynix and Samsung Electronics on the morning of May 28. SK Hynix ranked as the most net-sold stock for the second consecutive trading day, while Samsung Electronics ranked second in net selling.
Why did SK Hynix shares decline on May 28?
SK Hynix shares fell 8.45% to 1,419,000 won as of 11am on May 28, driven by concerns over Chinese memory industry competition following CXMT's Shanghai listing and a sharp decline in US semiconductor stocks overnight. The stock decline continued despite the company reporting Q2 operating profit of 60.5426 trillion won.
Which stocks did top investors net buy on May 28?
The top net-bought stocks on May 28 among Mirae Asset Securities' top 1% investors included LS Electric, TESS, OCI Holdings, and HYBE, according to data disclosed by the brokerage.
