Danica Pension Livsforsikringsaktieselskab Purchases 85,536 Shares of SK hynix Inc. $SKHY

Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of SK hynix Inc. (NASDAQ:SKHY) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 85,536 shares of the memory chip maker’s stock, valued at approximately $15,751,000.

Other hedge funds also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA bought a new stake in shares of SK hynix in the 3rd quarter worth about $69,830,000. Aberdeen Group plc acquired a new stake in shares of SK hynix in the 3rd quarter valued at about $54,030,000. Brooklands Fund Management Ltd bought a new position in shares of SK hynix during the third quarter worth about $46,145,000. Lancaster Investment Management bought a new position in shares of SK hynix during the third quarter worth about $34,103,000. Finally, Russell Investments Group Ltd. bought a new position in shares of SK hynix during the third quarter worth about $33,426,000.

SK hynix Stock Performance

Shares of NASDAQ SKHY traded down $5.92 during midday trading on Friday, hitting $131.79. The company’s stock had a trading volume of 16,266,352 shares, compared to its average volume of 24,158,156. SK hynix Inc. has a 1-year low of $122.20 and a 1-year high of $199.87. The business has a fifty day simple moving average of $164.00. 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 firm has a market cap of $962.72 billion and a price-to-earnings ratio of 8.00.

SK hynix (NASDAQ:SKHY) last announced its quarterly earnings data on Wednesday, October 28th. The memory chip maker reported $3.84 earnings per share for the quarter, missing analysts’ consensus estimates of $5.96 by ($2.12). The company had revenue of $73.86 billion for the quarter, compared to analyst estimates of $66.41 billion. As a group, research analysts predict that SK hynix Inc. will post 25.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SKHY shares. UBS Group assumed coverage on SK hynix in a research note on Wednesday, July 29th. They issued a “buy” rating and a $204.00 price target for the company. Wedbush raised SK hynix to a “strong-buy” rating in a report on Tuesday, August 4th. Needham & Company LLC lifted their target price on SK hynix from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Wall Street Zen upgraded SK hynix to a “strong-buy” rating in a report on Saturday, July 18th. Finally, Stifel Nicolaus assumed coverage on SK hynix in a research report on Tuesday, August 4th. They set a “buy” rating and a $240.00 price target on the stock. Four investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average 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.