SK hynix (NASDAQ:SKHY) Stock Price Up 5.3% – Here’s Why

SK hynix Inc. (NASDAQ:SKHY)’s share price was up 5.3% on Monday. The company traded as high as $144.47 and last traded at $143.7710. Approximately 7,076,889 shares traded hands during trading, a decline of 74% from the average daily volume of 26,786,086 shares. The stock had previously closed at $136.49.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Zacks Research raised SK hynix to a “hold” rating in a report on Friday, July 24th. JPMorgan Chase & Co. began coverage on SK hynix in a report on Thursday, September 10th. They set an “overweight” rating and a $245.00 price target for the company. Wall Street Zen upgraded shares of SK hynix to a “strong-buy” rating in a research report on Saturday, July 18th. William Blair started coverage on shares of SK hynix in a research note on Tuesday, August 4th. They issued an “outperform” rating on the stock. Finally, Stifel Nicolaus initiated coverage on shares of SK hynix in a research report on Tuesday, August 4th. They set a “buy” rating and a $240.00 price objective for the company. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $253.22.

SK hynix Price Performance

The firm has a 50 day moving average price of $171.45. The company has a market capitalization of $1.06 trillion and a P/E ratio of 11.54. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.59 and a quick ratio of 2.29.

SK hynix (NASDAQ:SKHY) last posted its quarterly earnings data on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share for the quarter. The company had revenue of $51.19 billion during the quarter. As a group, equities research analysts expect that SK hynix Inc. will post 25.69 earnings per share for the current year.

SK hynix Company Profile

SK hynix Inc is a South Korean semiconductor company that develops and manufactures memory products and related semiconductor solutions. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives, and high-bandwidth memory (HBM) used in computing, artificial intelligence, data centers, smartphones, automotive systems, and other electronic devices.

The company serves customers globally through manufacturing, research, sales, and support operations in South Korea and other major technology markets.