SK hynix (NASDAQ:SKHY) Stock Jumps 4.7% – Should You Buy?

SK hynix Inc. (NASDAQ:SKHY) shares traded up 4.7% during trading on Monday. The stock traded as high as $148.00 and last traded at $142.87. 19,323,189 shares were traded during trading, a decline of 28% from the average session volume of 26,988,398 shares. The stock had previously closed at $136.49.

Analysts Set New Price Targets

Several research analysts recently commented on SKHY shares. Weiss Ratings began coverage on SK hynix in a research note on Friday, October 2nd. They issued a “hold (c)” rating for the company. Wolfe Research reaffirmed an “outperform” rating and set a $250.00 target price on shares of SK hynix in a research note on Wednesday, September 23rd. Stifel Nicolaus assumed coverage on shares of SK hynix in a report on Tuesday, August 4th. They set a “buy” rating and a $240.00 target price for the company. Zacks Research raised shares of SK hynix to a “hold” rating in a report on Friday, July 24th. Finally, Singular Research upgraded shares of SK hynix to a “strong-buy” rating in a research report on Friday, July 10th. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have 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 4.7%

The company has a market cap of $1.04 trillion and a PE ratio of 11.31. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.29 and a current ratio of 2.59. The business has a 50-day moving average of $171.45.

SK hynix (NASDAQ:SKHY) last released its quarterly earnings data 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 for the quarter. Research analysts forecast that SK hynix Inc. will post 25.69 EPS for the current fiscal year.

About SK hynix

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.