SK hynix (NASDAQ:SKHY) Shares Up 2.6% – Still a Buy?

SK hynix Inc. (NASDAQ:SKHY)’s share price was up 2.6% on Tuesday. The stock traded as high as $188.41 and last traded at $186.68. 12,385,721 shares traded hands during trading, a decline of 57% from the average session volume of 28,765,164 shares. The stock had previously closed at $181.92.

Analyst Ratings Changes

SKHY has been the subject of a number of analyst reports. Stifel Nicolaus initiated coverage on shares of SK hynix in a report on Tuesday, August 4th. They set a “buy” rating and a $240.00 price objective for the company. Cantor Fitzgerald initiated coverage on shares of SK hynix in a research report on Tuesday, August 4th. They set an “overweight” rating and a $300.00 price target on the stock. Zacks Research raised shares of SK hynix to a “hold” rating in a research report on Friday, July 24th. Wall Street Zen raised shares of SK hynix to a “strong-buy” rating in a report on Saturday, July 18th. Finally, Wolfe Research restated an “outperform” rating and issued a $250.00 price objective on shares of SK hynix in a research report on Wednesday, September 23rd. Four analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $253.22.

SK hynix Trading Up 0.3%

The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.29 and a current ratio of 2.59. The firm’s fifty day moving average price is $165.71. The firm has a market cap of $1.35 trillion and a price-to-earnings ratio of 14.63.

SK hynix (NASDAQ:SKHY) last posted its earnings results 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. As a group, sell-side analysts expect that SK hynix Inc. will post 25.69 EPS for the current year.

SK hynix Company Profile

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

The company serves customers worldwide through manufacturing, research and development, sales and support operations across Asia, North America, Europe and other markets.