SK hynix Inc.'s Quiet Period To Expire on August 19th (NASDAQ:SKHY)

Key Points

• SK hynix’s IPO quiet period ends August 19, allowing underwriters and insiders to begin issuing research reports and earnings estimates. The company sold 177.9 million shares in its July 10 IPO at $149 each, raising approximately $26.5 billion.
• Analysts are broadly bullish, with a consensus “Buy” rating and a $245.50 price target. Individual targets range from $200 at Needham to $300 at Cantor Fitzgerald.
• SK hynix shares opened at $141.65, within a 52-week range of $124.80 to $194.80. Its latest quarterly earnings of $8.76 per share exceeded estimates of $5.12, although revenue of $52.83 billion fell short of the $59.05 billion forecast.

SK hynix's (NASDAQ:SKHY - Get Free Report) quiet period is set to end on Wednesday, August 19th. SK hynix had issued 177,900,000 shares in its initial public offering on July 10th. The total size of the offering was $26,507,100,000 based on an initial share price of $149.00. During SK hynix's quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports or earnings estimates for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company's quiet period, it's expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. William Blair assumed coverage on shares of SK hynix in a report on Tuesday, August 4th. They issued an "outperform" rating on the stock. Needham & Company LLC began coverage on SK hynix in a research report on Tuesday, August 4th. They issued a "buy" rating and a $200.00 price target on the stock. Wall Street Zen upgraded SK hynix to a "strong-buy" rating in a research note on Saturday, July 18th. Singular Research raised SK hynix to a "strong-buy" rating in a research report on Friday, July 10th. Finally, Cantor Fitzgerald started coverage on SK hynix in a research note on Tuesday, August 4th. They set an "overweight" rating and a $300.00 target price for the company. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $245.50.

SK hynix Stock Performance

Shares of SK hynix stock opened at $141.65 on Wednesday. SK hynix has a 1 year low of $124.80 and a 1 year high of $194.80.

SK hynix (NASDAQ:SKHY - Get Free Report) last released its earnings results on Wednesday, July 29th. The memory chip maker reported $8.76 EPS for the quarter, beating the consensus estimate of $5.12 by $3.64. The company had revenue of $52.83 billion for the quarter, compared to analyst estimates of $59.05 billion. As a group, equities analysts anticipate that SK hynix will post 25.48 earnings per share for the current year.

About SK hynix

SK hynix Inc is a South Korea-based semiconductor company that develops, manufactures, and sells memory products used in a wide range of electronic devices and computing systems. Its portfolio includes DRAM, NAND flash, and other memory solutions that support applications such as servers, PCs, mobile devices, and consumer electronics.

The company serves customers globally through the semiconductor supply chain and is recognized as one of the major memory chip producers in the industry.

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