SK hynix (NASDAQ:SKHY) Shares Gap Down – Here’s What Happened

SK hynix Inc. (NASDAQ:SKHY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $164.98, but opened at $160.82. SK hynix shares last traded at $158.3670, with a volume of 3,798,920 shares changing hands.

Analyst Ratings Changes

Several analysts have recently commented on SKHY shares. Singular Research upgraded SK hynix to a “strong-buy” rating in a report on Friday, July 10th. Cantor Fitzgerald assumed coverage on shares of SK hynix in a report on Tuesday, August 4th. They set an “overweight” rating and a $300.00 price objective on the stock. Stifel Nicolaus assumed coverage on SK hynix in a research note on Tuesday, August 4th. They set a “buy” rating and a $240.00 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, William Blair began coverage on SK hynix in a research report on Tuesday, August 4th. They issued an “outperform” rating for the company. Three analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $248.00.

SK hynix Stock Down 2.4%

SK hynix (NASDAQ:SKHY) last issued its earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 EPS for the quarter. The business had revenue of $51.19 billion during the quarter. Equities research analysts predict that SK hynix Inc. will post 25.48 earnings per share for the current fiscal year.

SK hynix Company Profile

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.