Gryphon Financial Partners LLC Buys New Holdings in SK hynix Inc. $SKHY

Gryphon Financial Partners LLC acquired a new position in SK hynix Inc. (NASDAQ:SKHY) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 8,165 shares of the memory chip maker’s stock, valued at approximately $1,504,000.

A number of other institutional investors also recently made changes to their positions in the business. Entrust Financial LLC bought a new position in shares of SK hynix during the third quarter valued at about $119,000. Ethic Inc. bought a new position in shares of SK hynix during the third quarter valued at about $10,323,000. StoneX Group Inc. purchased a new stake in shares of SK hynix during the third quarter worth about $1,066,000. Pictet Asset Management Holding SA purchased a new stake in shares of SK hynix during the third quarter worth about $69,830,000. Finally, Verus Capital Partners LLC purchased a new stake in shares of SK hynix during the third quarter worth about $609,000.

SK hynix Trading Up 5.5%

Shares of SK hynix stock opened at $134.38 on Tuesday. The company has a current ratio of 2.59, a quick ratio of 2.29 and a debt-to-equity ratio of 0.06. SK hynix Inc. has a 12-month low of $122.20 and a 12-month high of $199.87. The stock has a market cap of $981.64 billion and a P/E ratio of 10.64. The firm’s fifty day moving average is $166.26.

SK hynix (NASDAQ:SKHY) last posted its earnings results on Wednesday, October 28th. The memory chip maker reported $3.84 EPS for the quarter, missing the consensus estimate of $5.96 by ($2.12). The firm had revenue of $73.86 billion for the quarter, compared to analysts’ expectations of $66.41 billion. Analysts predict that SK hynix Inc. will post 25.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Citigroup upgraded SK hynix to a “strong-buy” rating in a report on Wednesday, September 2nd. Wolfe Research reaffirmed an “outperform” rating on shares of SK hynix in a research report on Wednesday, October 28th. JPMorgan Chase & Co. initiated coverage on SK hynix in a report on Thursday, September 10th. They issued an “overweight” rating and a $245.00 price objective for the company. Wedbush upgraded SK hynix to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, UBS Group started coverage on SK hynix in a research report on Wednesday, July 29th. They issued a “buy” rating and a $204.00 price objective on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $247.80.

SK hynix Company Profile

SK hynix is a South Korean semiconductor company that develops and manufactures memory products for use in computers, mobile devices, data centers and other electronics. Its principal products include dynamic random-access memory (DRAM), NAND flash memory and high-bandwidth memory (HBM), as well as complementary metal-oxide-semiconductor (CMOS) image sensors.

The company’s memory products support applications ranging from personal computing and smartphones to servers, artificial intelligence systems and automotive electronics.