SK hynix (NASDAQ:SKHY) Shares Up 5.1% - What's Next?

Key Points

• SK hynix shares rose 5.1% to $193.50, reaching an intraday high of $193.83, although trading volume was 39% below the average session volume.
• Analyst sentiment remains positive, with a consensus “Buy” rating and an average price target of $253.22; recent targets include $300 from Cantor Fitzgerald and Barclays.
• The company reported quarterly earnings of $8.48 per share on $51.19 billion in revenue. SK hynix trades at a price-to-earnings ratio of 15.32 and has relatively low leverage, with a debt-to-equity ratio of 0.06.

SK hynix Inc. (NASDAQ:SKHY - Get Free Report) shot up 5.1% during trading on Thursday. The stock traded as high as $193.83 and last traded at $193.50. Approximately 17,280,922 shares changed hands during trading, a decline of 39% from the average session volume of 28,227,848 shares. The stock had previously closed at $184.15.

Analyst Ratings Changes

Several analysts have recently weighed in on SKHY shares. Cantor Fitzgerald assumed coverage on SK hynix in a research report on Tuesday, August 4th. They set an "overweight" rating and a $300.00 target price for the company. Royal Bank Of Canada began coverage on SK hynix in a research report on Tuesday, August 4th. They set an "outperform" rating and a $200.00 price objective on the stock. Barclays cut their price target on shares of SK hynix from $330.00 to $300.00 and set an "overweight" rating on the stock in a report on Thursday, July 30th. Wall Street Zen upgraded shares of SK hynix to a "strong-buy" rating in a report on Saturday, July 18th. Finally, William Blair started coverage on SK hynix in a research report on Tuesday, August 4th. They set an "outperform" rating for the company. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $253.22.

SK hynix Stock Up 5.1%

The company's 50-day moving average is $165.71. The firm has a market cap of $1.41 trillion and a price-to-earnings ratio of 15.32. 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 issued its quarterly earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share for the quarter. The company had revenue of $51.19 billion during the quarter. As a group, equities analysts predict that SK hynix Inc. will post 25.69 earnings per share for the current fiscal year.

About SK hynix

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

The company serves customers worldwide through manufacturing, research and development, sales and support operations across Asia, North America, Europe and other markets.

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