SK hynix (NASDAQ:SKHY) Stock Price Up 2.6% – Here’s What Happened

SK hynix Inc. (NASDAQ:SKHY)’s share price was up 2.6% during trading on Wednesday . The company traded as high as $165.47 and last traded at $164.98. 11,081,099 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 32,631,084 shares. The stock had previously closed at $160.78.

Analysts Set New Price Targets

Several equities analysts recently commented on SKHY shares. Wedbush raised shares of SK hynix to a “strong-buy” rating in a research note on Tuesday, August 4th. UBS Group initiated coverage on SK hynix in a research report on Wednesday, July 29th. They set a “buy” rating and a $204.00 price target for the company. William Blair assumed coverage on shares of SK hynix in a research report on Tuesday, August 4th. They set an “outperform” rating for the company. Wall Street Zen raised shares of SK hynix to a “strong-buy” rating in a report on Saturday, July 18th. Finally, Royal Bank Of Canada initiated coverage on shares of SK hynix in a research report on Tuesday, August 4th. They issued an “outperform” rating and a $200.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, SK hynix currently has an average rating of “Buy” and an average price target of $248.00.

SK hynix Stock Performance

SK hynix (NASDAQ:SKHY) last issued its quarterly earnings data 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. Equities analysts predict that SK hynix Inc. will post 25.48 EPS for the current fiscal year.

About SK hynix

SK hynix Inc is a South Korea-based semiconductor company that develops, manufactures, and sells memory products used in a wide range of electronic devices and computing systems. Its portfolio includes DRAM, NAND flash, and other memory solutions that support applications such as servers, PCs, mobile devices, and consumer electronics.

The company serves customers globally through the semiconductor supply chain and is recognized as one of the major memory chip producers in the industry.