On July 21, KIOXIA Holdings rose 8.18% in pre-market trading to $36.89/share, with turnover of $110.67. The rally was driven by a broad semiconductor sector recovery alongside multiple institutions maintaining bullish stances on the deeply oversold stock.
KIOXIA's share price had plummeted over 52% from its June peak. Despite the severe correction, analysts' average target price stands at 121,959 yen, approximately 130% above the current level — the widest premium among Topix top-100 companies. Nomura Securities raised its target price to 126,000 yen on July 16 and reiterated a buy rating, citing NAND flash bit prices continuing to surge beyond expectations amid supply shortages. The firm revised its Q2 bit price quarter-over-quarter growth forecast from +65% to +70%, with Q3 estimates lifted from +20% to +25%.
Within the Semiconductors sector, peers showed broad strength: Micron Technology up 6.08%, SK hynix up 6.01%, Intel up 5.63%, AMD up 4.09%, and NVIDIA up 1.34%.
(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.)
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