SK hynix (NASDAQ:SKHY) Shares Climb 5.5% – What’s Next?

SK hynix Inc. (NASDAQ:SKHY) traded up 5.5% during mid-day trading on Monday. The company traded as high as $135.60 and last traded at $134.38. 22,430,731 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 26,715,043 shares. The stock had previously closed at $127.34.

Analyst Ratings Changes

Several research analysts have recently commented on SKHY shares. Barclays lowered their target price on shares of SK hynix from $330.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Rosenblatt Securities raised their target price on shares of SK hynix from $320.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 28th. UBS Group began coverage on shares of SK hynix in a research note on Wednesday, July 29th. They issued a “buy” rating and a $204.00 price objective on the stock. Wall Street Zen upgraded shares of SK hynix to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, Zacks Research raised SK hynix to a “hold” rating in a report on Friday, July 24th. Four equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, SK hynix has a consensus rating of “Buy” and a consensus price target of $247.80.

SK hynix Stock Performance

The business’s 50 day moving average is $165.56. The company has a market capitalization of $1.04 trillion and a price-to-earnings ratio of 11.26. 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 (NASDAQ:SKHY) last released its quarterly earnings data on Wednesday, October 28th. The memory chip maker reported $3.84 earnings per share for the quarter, missing the consensus estimate of $5.96 by ($2.12). The company had revenue of $73.86 billion during the quarter, compared to the consensus estimate of $66.41 billion. On average, equities research analysts anticipate that SK hynix Inc. will post 25.24 EPS for the current year.

Institutional Investors Weigh In On SK hynix

A number of institutional investors have recently made changes to their positions in the stock. Ramsey Quantitative Systems bought a new position in shares of SK hynix during the third quarter worth about $30,000. Richardson Financial Services Inc. acquired a new stake in SK hynix during the 3rd quarter valued at approximately $50,000. Covestor Ltd acquired a new stake in SK hynix during the 3rd quarter valued at approximately $60,000. Morse Asset Management Inc bought a new position in SK hynix during the 3rd quarter worth approximately $74,000. Finally, Silver Grove Financial Group Inc. bought a new position in SK hynix during the 3rd quarter worth approximately $80,000.

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.