SK hynix (NASDAQ:SKHY) Trading Down 7.6% – Should You Sell?

SK hynix Inc. (NASDAQ:SKHY)’s share price fell 7.6% on Monday . The company traded as low as $174.59 and last traded at $175.63. 20,325,461 shares traded hands during trading, a decline of 34% from the average session volume of 30,803,227 shares. The stock had previously closed at $190.07.

Analysts Set New Price Targets

A number of research firms have issued reports on SKHY. UBS Group started coverage on shares of SK hynix in a report on Wednesday, July 29th. They set a “buy” rating and a $204.00 price target for the company. Citigroup upgraded SK hynix to a “strong-buy” rating in a research note on Wednesday, September 2nd. Zacks Research raised SK hynix to a “hold” rating in a research report on Friday, July 24th. Needham & Company LLC increased their target price on SK hynix from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Finally, Cantor Fitzgerald began coverage on SK hynix in a report on Tuesday, August 4th. They issued an “overweight” rating and a $300.00 target price on the stock. Four analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $247.67.

SK hynix Stock Performance

The company has a quick ratio of 2.29, a current ratio of 2.59 and a debt-to-equity ratio of 0.06. The stock’s 50 day simple moving average is $160.71. The company has a market cap of $1.28 trillion and a PE ratio of 13.84.

SK hynix (NASDAQ:SKHY) last posted its quarterly earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share (EPS) for the quarter. The company had revenue of $51.19 billion during the quarter. On average, equities research analysts anticipate that SK hynix Inc. will post 25.69 earnings per share for the current fiscal year.

SK hynix Company Profile

SK hynix Inc is a South Korean semiconductor manufacturer that develops and produces memory products for data centers, artificial intelligence systems, personal computers, mobile devices, automotive applications and other technology markets. Its portfolio includes dynamic random-access memory (DRAM), high-bandwidth memory (HBM), NAND flash memory, solid-state drives and related semiconductor solutions.

The company was established in 1983 as Hyundai Electronic Industrial Co and later operated under the name Hynix Semiconductor before becoming SK hynix following its acquisition by SK Telecom in 2012.