18,383 Shares in SK hynix Inc. $SKHY Bought by Matthews International Capital Management LLC

Matthews International Capital Management LLC acquired a new stake in shares of SK hynix Inc. (NASDAQ:SKHY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,383 shares of the memory chip maker’s stock, valued at approximately $3,385,000. SK hynix accounts for approximately 1.4% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 23rd largest holding.

Several other institutional investors and hedge funds have also bought and sold shares of SKHY. Gryphon Financial Partners LLC bought a new stake in SK hynix in the 3rd quarter valued at about $1,504,000. Entrust Financial LLC bought a new position in SK hynix during the third quarter worth about $119,000. Ethic Inc. bought a new position in SK hynix during the third quarter worth about $10,323,000. StoneX Group Inc. bought a new position in SK hynix during the third quarter worth about $1,066,000. Finally, Pictet Asset Management Holding SA purchased a new position in shares of SK hynix in the third quarter worth about $69,830,000.

SK hynix Price Performance

SK hynix stock opened at $129.66 on Wednesday. The stock has a fifty day simple moving average of $165.56. The company has a quick ratio of 2.29, a current ratio of 2.59 and a debt-to-equity ratio of 0.06. SK hynix Inc. has a twelve month low of $122.20 and a twelve month high of $199.87.

SK hynix (NASDAQ:SKHY) last announced its quarterly earnings data on Wednesday, October 28th. The memory chip maker reported $3.84 earnings per share for the quarter, missing the consensus estimate of $5.96 by ($2.12). The business had revenue of $73.86 billion during the quarter, compared to analysts’ expectations of $66.41 billion. As a group, research analysts anticipate that SK hynix Inc. will post 25.24 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wall Street Zen upgraded shares of SK hynix to a “strong-buy” rating in a research note on Saturday, July 18th. Wedbush upgraded shares of SK hynix to a “strong-buy” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. assumed coverage on shares of SK hynix in a report on Thursday, September 10th. They set an “overweight” rating and a $245.00 target price on the stock. Wells Fargo & Company restated a “buy” rating on shares of SK hynix in a research report on Wednesday, October 28th. Finally, Cantor Fitzgerald cut their price target on SK hynix from $300.00 to $250.00 and set an “overweight” rating for the company in a report on Monday, October 26th. Four analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, SK hynix presently has a consensus rating of “Buy” and an average target price of $247.80.

About SK hynix

SK hynix is a South Korean semiconductor company that develops and manufactures memory products for use in computers, mobile devices, data centers and other electronics. Its principal products include dynamic random-access memory (DRAM), NAND flash memory and high-bandwidth memory (HBM), as well as complementary metal-oxide-semiconductor (CMOS) image sensors. The company’s memory products support applications ranging from personal computing and smartphones to servers, artificial intelligence systems and automotive electronics.