SK hynix (NASDAQ:SKHY) Stock Gets Price Target Reduction from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered SK hynix’s price target from $300 to $250 while maintaining an “overweight” rating, implying 82.46% potential upside from the prior close.
• Analyst sentiment remains positive overall: SK hynix has an average “Buy” rating and a consensus price target of $247.67, with recent targets ranging from $204 to $320.
• SK hynix shares opened at $137.02, near the lower end of their 52-week range of $124.80–$199.87. The company reported quarterly EPS of $8.48 on revenue of $51.19 billion.

SK hynix (NASDAQ:SKHY - Get Free Report) had its price target lowered by equities research analysts at Cantor Fitzgerald from $300.00 to $250.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the memory chip maker's stock. Cantor Fitzgerald's price target points to a potential upside of 82.46% from the company's previous close.

SKHY has been the topic of several other research reports. UBS Group assumed coverage on shares of SK hynix in a report on Wednesday, July 29th. They issued a "buy" rating and a $204.00 price target on the stock. William Blair assumed coverage on SK hynix in a research report on Tuesday, August 4th. They set an "outperform" rating for the company. Needham & Company LLC upped their target price on SK hynix from $200.00 to $220.00 and gave the company a "buy" rating in a research note on Monday, August 24th. Stifel Nicolaus initiated coverage on SK hynix in a report on Tuesday, August 4th. They set a "buy" rating and a $240.00 target price on the stock. Finally, Rosenblatt Securities started coverage on SK hynix in a research report on Tuesday, August 4th. They set a "buy" rating and a $320.00 price target for the company. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, SK hynix presently has an average rating of "Buy" and a consensus price target of $247.67.

SK hynix Price Performance

Shares of SKHY opened at $137.02 on Monday. The company has a 50-day moving average of $170.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.59 and a quick ratio of 2.29. The stock has a market cap of $1.00 trillion and a P/E ratio of 10.85. SK hynix has a 52-week low of $124.80 and a 52-week high of $199.87.

SK hynix (NASDAQ:SKHY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share (EPS) for the quarter. The firm had revenue of $51.19 billion for the quarter. On average, research analysts anticipate that SK hynix will post 25.69 EPS for the current year.

Institutional Investors Weigh In On SK hynix

Hedge funds have recently modified their holdings of the company. Ramsey Quantitative Systems acquired a new stake in SK hynix during the third quarter worth approximately $30,000. Financial Management Professionals Inc. purchased a new position in shares of SK hynix during the 3rd quarter worth $129,000. Albion Financial Group UT purchased a new position in shares of SK hynix during the 3rd quarter worth $184,000. Boyd Wealth Management LLC acquired a new stake in shares of SK hynix during the third quarter worth $238,000. Finally, Wedbush Securities Inc. acquired a new stake in shares of SK hynix during the third quarter worth $243,000.

SK hynix Company Profile

SK hynix Inc is a South Korean semiconductor company that develops and manufactures memory products and related semiconductor solutions. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives, and high-bandwidth memory (HBM) used in computing, artificial intelligence, data centers, smartphones, automotive systems, and other electronic devices.

The company serves customers globally through manufacturing, research, sales, and support operations in South Korea and other major technology markets.

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