The latest Market Talks covering Technology, Media and Telecom. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0721 ET - Filtronic's largest-ever order is a sign of its exceptional operational progress this year, Berenberg analysts write. The defense and aerospace telecom company secured a $68.1 million follow-on order from Elon Musk's SpaceX to provide high-frequency telecom technology. "This record order is a strong endorsement of the relationship with SpaceX, and of Filtronic's ability to meet SpaceX's quality demands and pace of production," the analysts say. Though shares have pulled back from their highs in May, Berenberg sees significant upside with a buy rating on the stock and 440 pence price target. Filtronic shares are up 6% at 273 pence.(joseph.wilkins@wsj.com)

0523 ET - European chip stocks jump following a report saying that Samsung Electronics is increasing prices for its memory chips. Samsung is quoting prices around $4 per gigabit in negotiations with customers of its HBM4 memory chips--three times ahead of its current rates, according to a report in South Korean financial daily MK. Shares in European suppliers of Samsung jumped as AI-related stocks on the continent rise more broadly. ASML, Europe's most valuable company, increases 2.2%, while ASM International gains 4.7%. Analog chip makers Infineon and STMicroelectronics gain 6% and 3.3%, respectively. Stocks linked to the AI buildout also trade higher, with Siemens Energy up 2.6% while Prysmian adds 4%.(josephmichael.stonor@wsj.com)

0424 ET - Shares of European semiconductor companies are in positive territory as appetite for stocks exposed to artificial intelligence grows. Earlier in the week, memory chip maker Micron Technology posted strong quarterly results and said demand would remain strong for years to come. In Europe, shares of Dutch semiconductor-equipment maker ASML Holding and smaller rival ASM International are up 2.3% and 4.1%, respectively. BE Semiconductor Industries, the Dutch supplier of semiconductor assembly equipment, is up 2.6%. German chip maker Infineon Technologies' stock gains 4.6%. STMicroelectronics shares are up 2.7%. Meanwhile, the E-mini Nasdaq 100 futures contract is up 0.8% higher, indicating a positive opening for tech stocks in the U.S. (mauro.orru@wsj.com)

0330 ET - MediaTek has strengthened its position in the premium smartphone chip market over the past few years, Counterpoint Research analyst Shivani Parashar says in a report. Since the launch of its Dimensity 9000 chip in 2022, it has expanded its presence across flagship Android smartphones, supported by deeper partnerships with Chinese smartphone makers, she says. The recent launch of the Dimensity 9600 Pro marks another important step in MediaTek's premium push, she says. The timing is particularly important as the premium smartphone segment enters a more challenging cost environment with rising memory prices, she notes. MediaTek faces several competitors in the premium smartphone chip segment, including Qualcomm, Samsung Electronics and Huawei's HiSilicon, she adds. Shares last ended 0.6% lower at $4,950 New Taiwan dollars. (sherry.qin@wsj.com)

0224 ET - Telkom Indonesia (Persero) may benefit from the completion of phase two of its spinoff of the wholesale fibre connectivity business into Telkom InfraCo, UOB Kay Hian analysts say in a research report. The completion will further consolidate this business into Telkom InfraCo, strengthening its scale ahead of a potential strategic stake sale, the analysts say. Also, management is evaluating whether to consolidate additional fiber assets before proceeding with the strategic investor process, which could further increase Telkom InfraCo's scale. The brokerage maintains the stock's buy rating, but lowers the target price to 3,300.00 rupiah from IDR3,600.00 to partly reflect a potentially longer timeline for value-unlocking of Telkom InfraCo. Shares are 0.4% lower at IDR2,240.00. (ronnie.harui@wsj.com)

0017 ET - Rakuten Group's mobile unit is likely to face a temporary slowdown in subscriber additions and potential network quality disruptions in the near term after it revised a roaming agreement with KDDI, Jefferies's Hiroko Sato says in a note. KDDI's decision to substantially reduce roaming support for Rakuten from Oct. 1 represents an important milestone in the mobile business's transition toward a fully self-sustaining network, the analyst says. In the longer run, this should drive meaningful cost savings that support mobile profitability, she says. Jefferies cuts its target price on Rakuten Group to 775 yen from Y1,000 and maintains a hold rating as it awaits greater visibility on the mobile operations. Shares are 3.5% lower at Y657.7. (kosaku.narioka@wsj.com; @kosakunarioka)

2333 ET - True Corp.'s earnings should stay resilient in 3Q thanks to continued growth across several key businesses and lower finance costs, UOB Kay Hian analysts say in a report. The Thai telecom company's core service revenue should continue growing in 3Q due to healthy performance in its mobile, broadband and TV businesses, the analysts say. It can probably achieve its EBITDA growth guidance of 9% in 2026, aided by continued growth in its mobile and broadband businesses and a lower effective interest rate. The brokerage raises its target price on the stock to 16.50 baht from 15.70 baht with an unchanged buy rating. Shares are 0.8% higher at 12.60 baht. (ronnie.harui@wsj.com)

2250 ET - Telkom Indonesia could face near-term execution risks amid some uncertainty from management changes and asset reorganization, UOB Kay Hian analysts Willinoy Sitorus and Andrew Agita Buntoro say in a note. The company's early retirement program and broader organizational streamlining should improve efficiency over time, but restructuring costs could continue to pressure near-term earnings. Consolidating Telkom Indonesia's wholesale fiber connectivity business into Telkom InfraCo strengthens its scale ahead of a potential strategic stake sale. UOB Kay Hian maintains its Buy rating but cuts its target price to 3,300 Indonesian rupiah from IDR3,600. Shares are down 0.4% at IDR2,240. (venkat.pr@wsj.com)

2243 ET - CelcomDigi's 3Q earnings results, due in November, could be a near-term catalyst, given its undemanding valuation and healthy dividend yield, CGS International analyst Prem Jearajasingam says in a note. CelcomDigi's acquisition of a stake in Malaysia's state-backed 5G infrastructure firm Digital Nasional could be completed within weeks, he says. That should allow CelcomDigi and other new shareholders to streamline Digital Nasional's operations, reduce losses and support an efficient 5G rollout, he says. Digital Nasional's recent 5.2 billion ringgit financing could reduce the capital contributions currently expected from CelcomDigi and Maxis, although details of the funding structure remain unclear, he says. CGS maintains an add rating on CelcomDigi and keeps its target price at 2.84 ringgit. Shares are unchanged at 2.51 ringgit. (yingxian.wong@wsj.com)

2157 ET - South Korean internet giant Naver's 3Q earnings could be pressured by weak revenue growth from its core platform services, Daiwa Capital's Thomas Y. Kwon and Joon Lee say. The analysts forecast seasonally soft revenue growth for both advertisement and commerce segments due to the Chuseok holiday in September. The company's 3Q operating profit likely fell 5.2% on year to 541 billion won, with the operating profit margin narrowing to 15.5% from 18.2% a year earlier, they say. Elevated capital expenditure and operating costs related to artificial-intelligence infrastructure are also weighing on earnings, they add. Daiwa trims its target price for the company to 270,000 won from 273,000 won but keeps a buy rating. Shares are 0.2% higher at 191,500 won. (kwanwoo.jun@wsj.com)

2155 ET - GMO Internet Group's valuation fails to fully reflect the long-term growth opportunity from cybersecurity demand and the company's growing exposure to national security-related projects, Jefferies's Hiroko Sato says in a note. Cybersecurity demand remains a structural growth driver, the analyst says. 2H earnings should also be supported by the recognition of delayed sales in its internet security business and ongoing margin improvement initiatives, she says. Although earnings visibility remains lower than peers due to the absence of company-wide guidance and continued weakness in cryptoassets, Jefferies believes these factors are more than priced in at current levels. The U.S. bank has a buy rating and a target price of 5,000 yen on the stock. Shares are 1.0% lower at Y3,939. (kosaku.narioka@wsj.com; @kosakunarioka)

2103 ET - Talent is emerging as a key constraint as Malaysia enters a stronger semiconductor cycle, potentially limiting how quickly companies can translate demand and investment into revenue and earnings, says Hong Leong IB analyst Toh Woo Kim in a note. His analysis shows employee attrition at local companies at 14%-26%, well above the 7%-10% at multinational companies in Malaysia and regional peers. About 84%-90% of hiring is estimated to replace departing workers, leaving net workforce growth at around 3%, excluding outsourced semiconductor assembly and testing companies. Younger workers account for most hires and departures, raising training costs and potentially slowing productivity, he reckons. Companies with lower attrition may have an execution advantage, while persistent churn could increase delivery risks, he adds.