SK hynix (NASDAQ:SKHY) Shares Gap Down - Should You Sell?

Key Points

• SK hynix shares fell sharply at the open, dropping from a prior close of $190.07 to $174.93 before recovering slightly to about $178.29 in heavy trading.
• Analyst sentiment remains positive despite the decline: SK hynix has a consensus “Buy” rating and an average price target of $247.67, with recent targets ranging from $200 to $300.
• The company reported quarterly EPS of $8.48 on $51.19 billion in revenue. SK hynix is a major memory-chip producer serving data centers, AI systems, PCs, mobile devices and automotive markets.

SK hynix Inc. (NASDAQ:SKHY - Get Free Report)'s share price gapped down before the market opened on Monday . The stock had previously closed at $190.07, but opened at $174.93. SK hynix shares last traded at $178.2940, with a volume of 5,582,813 shares trading hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SKHY shares. Cantor Fitzgerald initiated coverage on shares of SK hynix in a report on Tuesday, August 4th. They issued an "overweight" rating and a $300.00 price target on the stock. Stifel Nicolaus began coverage on shares of SK hynix in a research note on Tuesday, August 4th. They set a "buy" rating and a $240.00 target price on the stock. Zacks Research upgraded shares of SK hynix to a "hold" rating in a research report on Friday, July 24th. Singular Research raised shares of SK hynix to a "strong-buy" rating in a research note on Friday, July 10th. Finally, Royal Bank Of Canada began coverage on shares of SK hynix in a report on Tuesday, August 4th. They issued an "outperform" rating and a $200.00 price objective for the company. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, SK hynix has a consensus rating of "Buy" and an average target price of $247.67.

SK hynix Price Performance

The business has a 50 day simple moving average of $160.07. The company has a quick ratio of 2.29, a current ratio of 2.59 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $1.29 trillion and a P/E ratio of 20.10.

SK hynix (NASDAQ:SKHY - Get Free Report) last announced its quarterly earnings data on Tuesday, August 18th. The memory chip maker reported $8.48 EPS for the quarter. The firm had revenue of $51.19 billion for the quarter. On average, equities analysts anticipate that SK hynix Inc. will post 25.61 EPS for the current year.

SK hynix Company Profile

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.

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.