Ethic Inc. Acquires 56,057 Shares of SK hynix Inc. $SKHY

Key Points

• Ethic Inc. opened a new position in SK hynix, acquiring 56,057 shares valued at approximately $10.3 million in the third quarter.
• Several other investment firms also initiated positions, including Pictet Asset Management, whose stake was valued at about $69.8 million.
• Analysts maintain a consensus Buy rating and a $247.80 average price target. In its latest quarter, SK hynix’s EPS fell short of estimates, while revenue exceeded expectations.

Ethic Inc. acquired a new position in shares of SK hynix Inc. (NASDAQ:SKHY - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 56,057 shares of the memory chip maker's stock, valued at approximately $10,323,000.

Other hedge funds have also bought and sold shares of the company. StoneX Group Inc. purchased a new position in shares of SK hynix during the third quarter valued at approximately $1,066,000. Pictet Asset Management Holding SA bought a new stake in shares of SK hynix during the 3rd quarter worth approximately $69,830,000. Verus Capital Partners LLC bought a new stake in SK hynix during the 3rd quarter valued at $609,000. Abacus Wealth Partners LLC purchased a new stake in shares of SK hynix in the 3rd quarter worth $681,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of SK hynix in the 3rd quarter worth $8,367,000.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SKHY shares. Wolfe Research reissued an "outperform" rating on shares of SK hynix in a research report on Wednesday, October 28th. Cantor Fitzgerald decreased their price objective on SK hynix from $300.00 to $250.00 and set an "overweight" rating for the company in a report on Monday, October 26th. Barclays decreased their price objective on SK hynix from $330.00 to $300.00 and set an "overweight" rating for the company in a report on Thursday, July 30th. Needham & Company LLC upped their price objective on shares of SK hynix from $220.00 to $235.00 and gave the stock a "buy" rating in a research note on Wednesday, October 28th. Finally, Wells Fargo & Company reiterated a "buy" rating on shares of SK hynix in a report on Wednesday, October 28th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $247.80.

SK hynix Stock Performance

Shares of NASDAQ SKHY opened at $127.34 on Monday. SK hynix Inc. has a 12-month low of $122.20 and a 12-month high of $199.87. The firm's fifty day moving average is $166.79. The company has a market cap of $930.21 billion and a PE ratio of 10.08. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.59 and a quick ratio of 2.29.

SK hynix (NASDAQ:SKHY - Get Free Report) last released its quarterly earnings results on Wednesday, October 28th. The memory chip maker reported $3.84 EPS for the quarter, missing the consensus estimate of $5.96 by ($2.12). The firm had revenue of $73.86 billion during the quarter, compared to analysts' expectations of $66.41 billion. On average, equities analysts predict that SK hynix Inc. will post 25.24 earnings per share for the current fiscal year.

Trending Headlines about SK hynix

Here are the key news stories impacting SK hynix this week:

• Positive Sentiment: AI infrastructure spending continues to support demand for memory chips, with one report saying supply remains insufficient to meet needs. That outlook could benefit SK hynix’s memory business if demand stays strong. SK Hynix Just Announced Huge News for Micron Shareholders
• Neutral Sentiment: South Korean semiconductor exports jumped 93.7% in October, signaling robust industry demand. However, the report also noted bearish trading activity weighing on South Korean equities, so strong export figures have not translated into uniformly positive investor sentiment. South Korea's Chip Exports Are Soaring—So Why Is This ETF Down 20?
• Negative Sentiment: A Wall Street sell-off in AI and technology stocks spread to Asia, pressuring SK hynix and other regional technology names. Reports cited investor concern about the cost of financing the AI build-out, while a separate account described continued selling in memory stocks as investors reduced exposure to AI-linked chipmakers. AI stock bloodbath hits Asia as Samsung, SK Hynix and SoftBank plunge Nasdaq sell-off batters Asian chip stocks
• Negative Sentiment: Qualcomm’s reported 26% handset-related plunge added to concerns about mobile demand and intensified the memory-chip sell-off, creating a potential headwind beyond AI-related demand. SK hynix Sinks 9% as Qualcomm’s 26% Handset Plunge Deepens Memory Chip Rout
• Negative Sentiment: Analyst concerns about SK hynix missing out on a U.S. plant and a reported delay in export approval for equipment bound for its China NAND facility raise questions about investment plans and execution. SK Hynix losing out on US plant has major implications, Wedbush says Why SK Hynix Plunged Today

SK hynix Profile

SK hynix is a South Korean semiconductor company that develops and manufactures memory products for use in computers, mobile devices, data centers and other electronics. Its principal products include dynamic random-access memory (DRAM), NAND flash memory and high-bandwidth memory (HBM), as well as complementary metal-oxide-semiconductor (CMOS) image sensors.

The company's memory products support applications ranging from personal computing and smartphones to servers, artificial intelligence systems and automotive electronics.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.