SK hynix (NASDAQ:SKHY) Shares Up 5.1% – Should You Buy?

SK hynix Inc. (NASDAQ:SKHY) shot up 5.1% during trading on Thursday. The company traded as high as $193.83 and last traded at $193.50. Approximately 17,280,922 shares were traded during mid-day trading, a decline of 39% from the average session volume of 28,227,848 shares. The stock had previously closed at $184.15.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Rosenblatt Securities initiated coverage on shares of SK hynix in a research report on Tuesday, August 4th. They set a “buy” rating and a $320.00 price objective for the company. William Blair assumed coverage on shares of SK hynix in a report on Tuesday, August 4th. They issued an “outperform” rating on the stock. UBS Group assumed coverage on shares of SK hynix in a research report on Wednesday, July 29th. They issued a “buy” rating and a $204.00 target price for the company. Stifel Nicolaus assumed coverage on shares of SK hynix in a report on Tuesday, August 4th. They set a “buy” rating and a $240.00 price target for the company. Finally, JPMorgan Chase & Co. assumed coverage on shares of SK hynix in a research report on Thursday, September 10th. They set an “overweight” rating and a $245.00 price target on the stock. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, SK hynix currently has a consensus rating of “Buy” and a consensus price target of $253.22.

SK hynix Stock Up 0.8%

The company has a market capitalization of $1.43 trillion and a P/E ratio of 15.45. The company’s 50 day moving average price is $167.00. The company has a current ratio of 2.59, a quick ratio of 2.29 and a debt-to-equity ratio of 0.06.

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 company had revenue of $51.19 billion during the quarter. On average, equities 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 for data centers, personal computers, mobile devices, automotive systems and other technology applications. Its portfolio includes dynamic random-access memory (DRAM), high-bandwidth memory (HBM), NAND flash memory, solid-state drives and related semiconductor solutions.

The company serves customers worldwide through manufacturing, research and development, sales and support operations across Asia, North America, Europe and other markets.