SK hynix Inc. (NASDAQ:SKHY) Receives Consensus Rating of "Buy" from Brokerages

Key Points

• SK hynix has a consensus “Buy” rating from 14 analysts: nine recommend buying, four give a strong-buy rating, and one advises holding. The average 12-month price target is $247.67.
• Recent analysts remain broadly positive, including JPMorgan and Cantor Fitzgerald with “overweight” ratings; price targets range from $220 at Needham to $300 at Cantor Fitzgerald.
• Shares opened at $195.37, up 3.4%, near their 52-week high of $199.87. SK hynix reported quarterly EPS of $8.48 on revenue of $51.19 billion, while analysts expect full-year EPS of $25.69.

SK hynix Inc. (NASDAQ:SKHY - Get Free Report) has earned an average rating of "Buy" from the fourteen research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation, nine have issued a buy recommendation and four have assigned a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $247.6667.

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. started coverage on shares of SK hynix in a report on Thursday, September 10th. They set an "overweight" rating and a $245.00 price objective for the company. Zacks Research raised shares of SK hynix to a "hold" rating in a research report on Friday, July 24th. Cantor Fitzgerald began coverage on SK hynix in a research note on Tuesday, August 4th. They set an "overweight" rating and a $300.00 price objective on the stock. Needham & Company LLC increased their target price on SK hynix from $200.00 to $220.00 and gave the stock a "buy" rating in a report on Monday, August 24th. Finally, Citigroup upgraded SK hynix to a "strong-buy" rating in a research report on Wednesday, September 2nd.

SK hynix Stock Up 3.4%

Shares of SKHY opened at $195.37 on Wednesday. The firm has a market cap of $1.43 trillion and a price-to-earnings ratio of 15.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.29 and a current ratio of 2.59. The firm has a 50 day simple moving average of $162.73. 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 results on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share (EPS) for the quarter. The company had revenue of $51.19 billion during the quarter. On average, equities analysts expect that SK hynix will post 25.69 earnings per share for the current fiscal year.

About SK hynix

SK hynix Inc is a South Korean semiconductor manufacturer that develops and produces memory products for data centers, artificial intelligence systems, personal computers, mobile devices, automotive applications and other technology markets. Its portfolio includes dynamic random-access memory (DRAM), high-bandwidth memory (HBM), NAND flash memory, solid-state drives and related semiconductor solutions.

The company was established in 1983 as Hyundai Electronic Industrial Co and later operated under the name Hynix Semiconductor before becoming SK hynix following its acquisition by SK Telecom in 2012.

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