Samsung Securities announced on August 19 that it has raised its target price for Robotiq from 320,000 won to 350,000 won, an increase of 9.4%, citing rapid growth in actuator sales primarily in China and the anticipated launch of new products and data services. The investment recommendation remains a 'buy.'
Seoji Hyun, a researcher at Samsung Securities, stated, "The one-time costs incurred last quarter due to employee stock compensation have dissipated, leading to a return to profitability in the second quarter." He added, "Sales are growing in key regions, including China, and new products and data services are set to gain momentum."
Robotiq reported second-quarter sales of 15.4 billion won, a 95% increase compared to the same period last year, with an operating profit of 2 billion won, marking a return to profitability. In the first quarter, the company recorded an operating loss due to 11.8 billion won in expenses related to employee stock compensation, but profitability has normalized with the elimination of those costs. The operating profit margin for the actuator segment remains high at 22.5%.
Notably, sales growth in China has been significant. In the first half of the year, sales in China reached 2.2 billion won, a 180% increase year-on-year. This growth is attributed to the expansion of actuator supplies to various applications and customer groups, including humanoids, robotic arms, and dexterous hands.
Looking ahead to the second half of the year, the data business and new product launches are expected to drive growth. Samsung Securities anticipates that high-margin data sales targeting big tech companies will begin in earnest, based on over 6,000 episodes accumulated in the data factory. Additionally, the upcoming launches of the humanoid 'AI Sapiens' and 'Dynamixel Q' are expected to be key factors in securing initial orders, which could influence short-term stock prices.
Seoji Hyun noted, "The results of proactive infrastructure investments, such as the Uzbekistan production facility and data factory, will become visible starting in early 2027. We expect 2028 to be the first year of significant profit generation as the effects of the new factory expansion in Uzbekistan are fully reflected."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.