Movement Alert|Hua Hong Semiconductor Falls 3.18% in Regular Trading, Profit-Taking Continues Following M&A Approval and Goldman Sachs Target Price Upgrade

Market Focus07-17 09:34

On July 17, Hua Hong Semiconductor (01347.HK) fell 3.18% in regular trading, trading at HK$149.7/share, with turnover of HK$435 million. The stock continues to face selling pressure as investors lock in gains following a sharp rally earlier this month.

On the news front, the company previously received CSRC approval to issue shares to acquire 97.4988% equity in Hualì Micro at a transaction price of RMB 8.268 billion, while Goldman Sachs dramatically raised its target price from HK$174 to HK$333, maintaining a Buy rating. These catalysts drove the stock up nearly 30% within one week. Since July 10, the stock has entered a sustained profit-taking phase amid broader Hong Kong market weakness.

Within the Semiconductor sector, the overall tone remains bearish. Among peer stocks, Montage Technology fell 6.10%, GigaDevice fell 4.33%, SMIC fell 2.93%, while Omnivision rose 5.72%. The sector-wide pullback has intensified adjustment pressure on individual names including Hua Hong Semiconductor.

(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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