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    A005930   KR7005930003

SAMSUNG ELECTRONICS CO., LTD.

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Samsung Electronics : considering another Texas location for $17 billion chip factory - document

07/15/2021 | 11:29pm EST
FILE PHOTO: The logo of Samsung Electronics is seen at its office building in Seoul

SEOUL (Reuters) - Samsung Electronics has applied for tax breaks to potentially build its planned $17 billion U.S. chip factory in a location in Texas other than Austin, where it has an existing chip plant, according to a document filed with Texas state officials.

Samsung is considering a location in Williamson County in Texas for the chip contract manufacturing facility that would consist of an investment "in excess of $17 billion dollars" and result in 1,800 new jobs, the document made public on Thursday showed.

Williamson County is home to the Taylor Independent School District, which is considering the tax breaks Samsung has applied for, the documents showed. The school district is considering capping the taxable value of Samsung's proposed facility at $80 million for 10 years instead of the market value of $4.35 billion estimated as of 2029, according to the document.

Earlier this year, Samsung had sought incentives from Travis County, Austin, where it has its existing chip plant, to possibly build the $17 billion facility there.

However, there has been no new public documentation filed for the Travis County site since March, the website for the Texas Comptroller of Public Accounts showed on Friday.

Samsung reiterated in the document that it is also looking at alternative sites in the United States including Arizona and New York, as well as in South Korea.

Should an investment be made, Samsung plans to break ground by the first quarter of next year with production due to start by end-2024, it showed.

Countries such as the United States have redoubled efforts to secure chip production as a continued global shortage of semiconductor chips hobbles various industries including automobiles.

(Reporting by Joyce Lee and Heekyong Yang; Editing by Ana Nicolaci da Costa)


ę Reuters 2021
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Analyst Recommendations on SAMSUNG ELECTRONICS CO., LTD.
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Financials
Sales 2021 276 846 B 234 B 234 B
Net income 2021 39 539 B 33,5 B 33,5 B
Net cash 2021 109 057 B 92,3 B 92,3 B
P/E ratio 2021 12,6x
Yield 2021 1,92%
Capitalization 508 259 B 429 B 430 B
EV / Sales 2021 1,44x
EV / Sales 2022 1,27x
Nbr of Employees -
Free-Float 82,7%
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Samsung Electronics Co., Ltd. Technical Analysis Chart | A005930 | KR7005930003 | MarketScreener
Technical analysis trends SAMSUNG ELECTRONICS CO., LTD.
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 40
Last Close Price 75 600,00 KRW
Average target price 97 100,00 KRW
Spread / Average Target 28,4%
EPS Revisions
Managers and Directors
Hyun-Suk Kim Co-President, Co-CEO & Director
Dongjin Koh Co-President, Co-CEO & Director
Kinam Kim President, Co-CEO & Director
Tae Moon Roh Co-President & Head-Research & Development
Hee-Chan Roh Chief Financial Officer
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