SK hynix (NASDAQ:SKHY) Shares Climb 4.7% – Should You Buy?

SK hynix Inc. (NASDAQ:SKHY)’s stock price shot up 4.7% on Monday. The stock traded as high as $148.00 and last traded at $142.87. Approximately 19,323,189 shares traded hands during mid-day trading, a decline of 28% from the average session volume of 26,988,398 shares. The stock had previously closed at $136.49.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SKHY. Wolfe Research restated an “outperform” rating and set a $250.00 price target on shares of SK hynix in a report on Wednesday, September 23rd. Needham & Company LLC boosted their price objective on shares of SK hynix from $200.00 to $220.00 and gave the company a “buy” rating in a report on Monday, August 24th. Barclays reduced their price objective on shares of SK hynix from $330.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Wedbush raised shares of SK hynix to a “strong-buy” rating in a research report on Tuesday, August 4th. Finally, JPMorgan Chase & Co. began coverage on shares of SK hynix in a research note on Thursday, September 10th. They set an “overweight” rating and a $245.00 target price for the company. Four equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $253.22.

SK hynix Trading Up 4.7%

The firm’s fifty day simple moving average is $171.45. 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 stock has a market cap of $1.04 trillion and a PE ratio of 11.31.

SK hynix (NASDAQ:SKHY) last announced 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 for the quarter. As a group, research analysts anticipate that SK hynix Inc. will post 25.69 earnings per share for the current fiscal year.

About SK hynix

SK hynix Inc is a South Korean semiconductor company that develops and manufactures memory products and related semiconductor solutions. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives, and high-bandwidth memory (HBM) used in computing, artificial intelligence, data centers, smartphones, automotive systems, and other electronic devices.

The company serves customers globally through manufacturing, research, sales, and support operations in South Korea and other major technology markets.