SK hynix (NASDAQ:SKHY) Shares Down 2.2% – Time to Sell?

Shares of SK hynix Inc. (NASDAQ:SKHY) dropped 2.2% during mid-day trading on Tuesday. The stock traded as low as $137.14 and last traded at $139.79. 14,878,223 shares traded hands during mid-day trading, a decline of 44% from the average daily volume of 26,801,469 shares. The stock had previously closed at $142.87.

Wall Street Analyst Weigh In

Several research firms have commented on SKHY. Wolfe Research reissued an “outperform” rating and set a $250.00 target price on shares of SK hynix in a research report on Wednesday, September 23rd. Wedbush raised SK hynix to a “strong-buy” rating in a research report on Tuesday, August 4th. UBS Group began coverage on SK hynix in a research report on Wednesday, July 29th. They issued a “buy” rating and a $204.00 price target for the company. Rosenblatt Securities started coverage on SK hynix in a research note on Tuesday, August 4th. They set a “buy” rating and a $320.00 price target for the company. Finally, JPMorgan Chase & Co. started coverage on SK hynix in a report on Thursday, September 10th. They set an “overweight” rating and a $245.00 price objective on the stock. Four investment analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $253.22.

SK hynix Trading Up 2.5%

The firm has a fifty day simple moving average of $171.34. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.59 and a quick ratio of 2.29. The stock has a market capitalization of $1.05 trillion and a price-to-earnings ratio of 11.34.

SK hynix (NASDAQ:SKHY) last announced its earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 EPS for the quarter. The firm had revenue of $51.19 billion during the quarter. On average, equities research analysts anticipate that SK hynix Inc. will post 25.69 EPS for the current year.

Institutional Investors Weigh In On SK hynix

Several hedge funds have recently modified their holdings of SKHY. Lancaster Investment Management acquired a new stake in SK hynix during the third quarter worth $34,103,000. Prime Capital Investment Advisors LLC acquired a new stake in shares of SK hynix during the 3rd quarter worth about $6,777,000. Yarbrough Capital LLC bought a new position in SK hynix during the 3rd quarter valued at about $5,934,000. SBI Securities Co. Ltd. bought a new position in SK hynix during the 3rd quarter valued at about $4,214,000. Finally, Robeco Institutional Asset Management B.V. bought a new position in SK hynix during the 3rd quarter valued at about $2,120,000.

About SK hynix

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.