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

Danica Pension Livsforsikringsaktieselskab acquired a new stake in SK hynix Inc. (NASDAQ:SKHY) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 85,536 shares of the memory chip maker’s stock, valued at approximately $15,751,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Ramsey Quantitative Systems purchased a new stake in shares of SK hynix in the third quarter worth about $30,000. Richardson Financial Services Inc. purchased a new stake in shares of SK hynix during the 3rd quarter valued at about $50,000. Covestor Ltd purchased a new stake in shares of SK hynix during the 3rd quarter valued at about $60,000. Silver Grove Financial Group Inc. purchased a new stake in shares of SK hynix during the 3rd quarter valued at about $80,000. Finally, Entrust Financial LLC acquired a new position in SK hynix during the 3rd quarter worth approximately $119,000.

SK hynix Price Performance

SKHY traded down $5.92 on Friday, reaching $131.79. The company’s stock had a trading volume of 16,266,352 shares, compared to its average volume of 24,158,156. The firm has a market cap of $962.72 billion and a PE ratio of 8.00. SK hynix Inc. has a 1 year low of $122.20 and a 1 year high of $199.87. 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 50 day moving average of $164.00.

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

Analyst Ratings Changes

A number of research firms have weighed in on SKHY. Cantor Fitzgerald decreased their price target on SK hynix from $300.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Wolfe Research reiterated an “outperform” rating on shares of SK hynix in a research note on Wednesday, October 28th. Needham & Company LLC boosted their target price on shares of SK hynix from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. JPMorgan Chase & Co. started coverage on shares of SK hynix in a research note on Thursday, September 10th. They issued an “overweight” rating and a $245.00 target price for the company. Finally, Citigroup upgraded shares of SK hynix to a “strong-buy” rating in a research note on Wednesday, September 2nd. Four investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus 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.