SK hynix (NASDAQ:SKHY) Shares Gap Down – Time to Sell?

SK hynix Inc. (NASDAQ:SKHY)’s stock price gapped down before the market opened on Thursday . The stock had previously closed at $164.98, but opened at $160.82. SK hynix shares last traded at $158.3670, with a volume of 3,798,920 shares changing hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. William Blair began coverage on SK hynix in a report on Tuesday, August 4th. They issued an “outperform” rating for the company. Rosenblatt Securities started coverage on SK hynix in a research report on Tuesday, August 4th. They set a “buy” rating and a $320.00 target price on the stock. Stifel Nicolaus began coverage on SK hynix in a research report on Tuesday, August 4th. They issued a “buy” rating and a $240.00 price target for the company. Cantor Fitzgerald assumed coverage on SK hynix in a research note on Tuesday, August 4th. They set an “overweight” rating and a $300.00 price objective on the stock. Finally, Needham & Company LLC boosted their price objective on SK hynix from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Four investment analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $248.00.

SK hynix Trading Up 8.1%

SK hynix (NASDAQ:SKHY) last released its earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 EPS for the quarter. The firm had revenue of $51.19 billion during the quarter. As a group, sell-side analysts expect that SK hynix Inc. will post 25.48 earnings per share 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.