SK hynix (NASDAQ:SKHY) Stock Falls 4% - Here's What Happened

Key Points

• SK hynix shares fell 4% to $162.23 in Monday trading, with volume at roughly 14.25 million shares—47% below the stock’s average daily volume.
• Analyst sentiment remains positive overall: MarketBeat reports a consensus “Buy” rating and an average price target of $253.22, despite Barclays recently lowering its target to $300 and other analysts maintaining Hold ratings.
• SK hynix reported quarterly EPS of $8.48 on $51.19 billion in revenue. The semiconductor maker has strong liquidity, with a current ratio of 2.59 and a low debt-to-equity ratio of 0.06.

SK hynix Inc. (NASDAQ:SKHY - Get Free Report) traded down 4% during trading on Monday. The company traded as low as $161.31 and last traded at $162.23. 14,248,129 shares were traded during mid-day trading, a decline of 47% from the average daily volume of 27,071,975 shares. The stock had previously closed at $169.03.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Wedbush upgraded shares of SK hynix to a "strong-buy" rating in a research report on Tuesday, August 4th. Zacks Research raised shares of SK hynix to a "hold" rating in a report on Friday, July 24th. Needham & Company LLC increased their price target on shares of SK hynix from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Monday, August 24th. Barclays dropped their price objective on shares of SK hynix from $330.00 to $300.00 and set an "overweight" rating for the company in a research note on Thursday, July 30th. Finally, Weiss Ratings initiated coverage on SK hynix in a research report on Friday, October 2nd. They set a "hold (c)" rating for the company. Four equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $253.22.

SK hynix Price Performance

The company has a debt-to-equity ratio of 0.06, a current ratio of 2.59 and a quick ratio of 2.29. The company has a market cap of $1.19 trillion and a price-to-earnings ratio of 12.84. The company's 50-day simple moving average is $171.05.

SK hynix (NASDAQ:SKHY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 18th. The memory chip maker reported $8.48 EPS for the quarter. The company had revenue of $51.19 billion for the quarter. On average, research 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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