SK hynix Inc. $SKHY Shares Newly Purchased by Gryphon Financial Partners LLC

Key Points

• Gryphon Financial Partners initiated a position in SK hynix, purchasing 8,165 shares valued at approximately $1.5 million in the third quarter; several other institutional investors also opened new positions.
• Analysts have a consensus Buy rating and an average price target of $247.80, with 4 Strong Buy, 10 Buy, and 2 Hold ratings.
• In its latest quarter, SK hynix reported EPS of $3.84, below the $5.96 consensus estimate, while revenue of $73.86 billion exceeded analyst expectations of $66.41 billion.

Gryphon Financial Partners LLC bought a new stake in SK hynix Inc. (NASDAQ:SKHY - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 8,165 shares of the memory chip maker's stock, valued at approximately $1,504,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ramsey Quantitative Systems bought a new position in SK hynix during the 3rd quarter worth $30,000. Richardson Financial Services Inc. acquired a new position in SK hynix during the 3rd quarter worth about $50,000. Covestor Ltd acquired a new position in SK hynix during the 3rd quarter worth about $60,000. Entrust Financial LLC bought a new stake in shares of SK hynix in the 3rd quarter valued at about $119,000. Finally, Financial Management Professionals Inc. bought a new stake in shares of SK hynix in the 3rd quarter valued at about $129,000.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SKHY. Stifel Nicolaus started coverage on SK hynix in a research note on Tuesday, August 4th. They issued a "buy" rating and a $240.00 price target for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of SK hynix in a research note on Wednesday, October 28th. Cantor Fitzgerald reduced their target price on SK hynix from $300.00 to $250.00 and set an "overweight" rating on the stock in a report on Monday, October 26th. Citigroup raised shares of SK hynix to a "strong-buy" rating in a research report on Wednesday, September 2nd. Finally, Zacks Research upgraded shares of SK hynix to a "hold" rating in a report on Friday, July 24th. Four analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, SK hynix has a consensus rating of "Buy" and an average price target of $247.80.

SK hynix Price Performance

NASDAQ SKHY opened at $134.38 on Tuesday. 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 company has a market cap of $981.64 billion and a price-to-earnings ratio of 10.64. SK hynix Inc. has a 1 year low of $122.20 and a 1 year high of $199.87. The business has a fifty day moving average price of $166.26.

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

SK hynix Company 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.

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