SK hynix (NASDAQ:SKHY) Sets New 12-Month Low – Here’s What Happened

SK hynix Inc. (NASDAQ:SKHY) shares reached a new 52-week low on Monday . The stock traded as low as $144.60 and last traded at $146.76, with a volume of 13341854 shares traded. The stock had previously closed at $154.57.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SKHY shares. Singular Research upgraded SK hynix to a “strong-buy” rating in a research note on Friday, July 10th. Wall Street Zen upgraded SK hynix to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, Barclays initiated coverage on SK hynix in a research report on Tuesday, July 14th. They set an “overweight” rating and a $330.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Strong Buy” and an average target price of $330.00.

SK hynix Price Performance

About SK hynix

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.