SK hynix (NASDAQ:SKHY) Stock Price Up 5.3% - Still a Buy?

Key Points

• SK hynix shares climbed 5.3% to about $143.77, though trading volume was 74% below the stock’s average daily volume.
• Analysts remain broadly bullish, with an average rating of “Buy” and an average price target of $253.22, well above the current share price. Recent targets range from $250 to $320.
• The memory-chip maker reported quarterly EPS of $8.48 on $51.19 billion in revenue, while its product portfolio includes DRAM, NAND, SSDs and high-bandwidth memory used in AI and data centers.

SK hynix Inc. (NASDAQ:SKHY - Get Free Report) shares rose 5.3% during trading on Monday. The stock traded as high as $144.47 and last traded at $143.7710. Approximately 7,076,889 shares were traded during mid-day trading, a decline of 74% from the average daily volume of 26,786,086 shares. The stock had previously closed at $136.49.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SKHY shares. Wolfe Research reiterated an "outperform" rating and issued a $250.00 target price on shares of SK hynix in a report on Wednesday, September 23rd. Wall Street Zen upgraded SK hynix to a "strong-buy" rating in a research report on Saturday, July 18th. Rosenblatt Securities began coverage on shares of SK hynix in a research note on Tuesday, August 4th. They set a "buy" rating and a $320.00 price objective for the company. Cantor Fitzgerald assumed coverage on shares of SK hynix in a research note on Tuesday, August 4th. They set an "overweight" rating and a $300.00 price objective for the company. Finally, Weiss Ratings assumed coverage on shares of SK hynix in a research report on Friday, October 2nd. They set a "hold (c)" rating on the stock. Four research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $253.22.

SK hynix Price Performance

The stock's fifty day moving average price is $171.45. The stock has a market capitalization of $1.06 trillion and a PE ratio of 11.54. 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 earnings results 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. As a group, equities research analysts predict that SK hynix Inc. will post 25.69 EPS for the current fiscal year.

SK hynix Company Profile

SK hynix Inc is a South Korean semiconductor company that develops and manufactures memory products and related semiconductor solutions. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives, and high-bandwidth memory (HBM) used in computing, artificial intelligence, data centers, smartphones, automotive systems, and other electronic devices.

The company serves customers globally through manufacturing, research, sales, and support operations in South Korea and other major technology markets.

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