SK hynix (NASDAQ:SKHY) Stock Price Target Lowered at Cantor Fitzgerald

SK hynix (NASDAQ:SKHY) had its price target reduced by equities research analysts at Cantor Fitzgerald from $300.00 to $250.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the memory chip maker’s stock. Cantor Fitzgerald‘s price objective would suggest a potential upside of 82.46% from the company’s previous close.

SKHY has been the topic of a number of other research reports. Wolfe Research reiterated an “outperform” rating and issued a $250.00 target price on shares of SK hynix in a report on Wednesday, September 23rd. Stifel Nicolaus initiated coverage on SK hynix in a research note on Tuesday, August 4th. They set a “buy” rating and a $240.00 price target for the company. UBS Group started coverage on SK hynix in a report on Wednesday, July 29th. They issued a “buy” rating and a $204.00 price objective on the stock. Royal Bank Of Canada started coverage on SK hynix in a report on Tuesday, August 4th. They set an “outperform” rating and a $200.00 target price for the company. Finally, Zacks Research upgraded SK hynix to a “hold” rating in a report on Friday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, SK hynix presently has a consensus rating of “Buy” and a consensus price target of $247.67.

SK hynix Stock Performance

SKHY opened at $137.02 on Monday. SK hynix has a 1 year low of $124.80 and a 1 year high of $199.87. The business has a 50 day moving average of $170.08. The firm has a market capitalization of $1.00 trillion and a PE ratio of 10.85. 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 results 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 for the quarter. As a group, sell-side analysts expect that SK hynix will post 25.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Lancaster Investment Management bought a new stake in shares of SK hynix in the third quarter valued at approximately $34,103,000. Prime Capital Investment Advisors LLC bought a new stake in shares of SK hynix in the third quarter valued at about $6,777,000. Yarbrough Capital LLC acquired a new stake in SK hynix during the third quarter worth about $5,934,000. SBI Securities Co. Ltd. bought a new position in SK hynix during the third quarter valued at about $4,214,000. Finally, Signaturefd LLC acquired a new position in SK hynix in the 3rd quarter valued at approximately $3,676,000.

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.