On Thursday at 11:09 AM (Bangkok time), the share price of Hana Microelectronics Public Company Limited (SET: HANA) soared by 22.01% or THB 8.75 to THB 48.50, with a trading value of THB 2.85 billion.
HANA has delivered an exceptionally strong performance for the third quarter of 2026, significantly beating analyst expectations and driving bullish sentiment from leading brokerages.
CLSA highlighted HANA’s 3Q26 net profit of THB 693 million, a staggering 4,588% increase year-on-year and up 112% quarter-on-quarter. The result was 93% higher than CLSA’s own forecast and roughly double market consensus.
The surprise came primarily from much stronger-than-expected sales, with revenue coming in 26% above projections, particularly due to a sharp ramp-up at the company’s PCBA facility in Lamphun. Additionally, a weaker baht further amplified the bottom-line result. HANA’s 9M26 net profit reached THB 1,122 million, already surpassing CLSA’s full-year forecast for 2026 of THB 1,079 million.
Given robust order visibility, continued acceleration in AI-related projects, and a recovering legacy business, CLSA expects the strong momentum to persist into the fourth quarter. The brokerage maintains its ‘Outperform’ rating with a target price of THB 60.00 per share.
DBS echoed the positive sentiment, noting the 3Q26 net profit exceeded both its own and consensus estimates. With a 9M26 net profit of THB 1.12 billion, HANA has already surpassed DBS’ full-year forecasts for 2026. The company’s solid balance sheet was also emphasized, with net cash of THB 10.6 billion and virtually no debt.
As a result, the brokerage reiterated its ‘Buy’ rating, raising its target price to THB 58.00 per share, based on a 30x PE ratio in line with historical averages.
