SK hynix (NASDAQ:SKHY) Upgraded by Citigroup to “Strong-Buy” Rating

SK hynix (NASDAQ:SKHY) was upgraded by equities research analysts at Citigroup to a “strong-buy” rating in a research note issued to investors on Wednesday, Zacks reports.

SKHY has been the subject of several other research reports. Wedbush upgraded SK hynix to a “strong-buy” rating in a report on Tuesday, August 4th. Singular Research upgraded shares of SK hynix to a “strong-buy” rating in a report on Friday, July 10th. UBS Group began 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 on the stock. Zacks Research upgraded shares of SK hynix to a “hold” rating in a report on Friday, July 24th. Finally, William Blair initiated coverage on shares of SK hynix in a research report on Tuesday, August 4th. They set an “outperform” rating for the company. Four analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, SK hynix has a consensus rating of “Buy” and a consensus price target of $248.00.

SK hynix Trading Down 0.8%

Shares of SKHY opened at $163.68 on Wednesday. SK hynix has a fifty-two week low of $124.80 and a fifty-two week high of $194.80.

SK hynix (NASDAQ:SKHY) last posted its quarterly earnings data on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share (EPS) for the quarter. The business had revenue of $51.19 billion for the quarter. Analysts predict that SK hynix will post 25.48 EPS for the current year.

SK hynix Company Profile

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.