379,203 Shares in SK hynix Inc. $SKHY Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA acquired a new position in shares of SK hynix Inc. (NASDAQ:SKHY) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 379,203 shares of the memory chip maker’s stock, valued at approximately $69,830,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Ramsey Quantitative Systems purchased a new position in SK hynix in the 3rd quarter valued at approximately $30,000. Richardson Financial Services Inc. acquired a new position in shares of SK hynix during the third quarter worth about $50,000. Covestor Ltd purchased a new stake in shares of SK hynix during the third quarter worth approximately $60,000. Financial Management Professionals Inc. purchased a new stake in shares of SK hynix during the third quarter worth approximately $129,000. Finally, Albion Financial Group UT acquired a new stake in SK hynix in the third quarter valued at approximately $184,000.

Analysts Set New Price Targets

Several research analysts have commented on SKHY shares. Rosenblatt Securities boosted their price target on shares of SK hynix from $320.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 28th. Wolfe Research restated an “outperform” rating on shares of SK hynix in a report on Wednesday, October 28th. Barclays decreased their price objective on shares of SK hynix from $330.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Cantor Fitzgerald lowered their target price on shares of SK hynix from $300.00 to $250.00 and set an “overweight” rating for the company in a research note on Monday, October 26th. Finally, Weiss Ratings began coverage on shares of SK hynix in a research note on Friday, October 2nd. They set a “hold (c)” rating for the company. Four analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $247.80.

SK hynix Stock Up 5.5%

Shares of SK hynix stock opened at $134.38 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.59 and a quick ratio of 2.29. SK hynix Inc. has a 52 week low of $122.20 and a 52 week high of $199.87. The company has a 50 day moving average of $166.26. The stock has a market capitalization of $981.64 billion and a price-to-earnings ratio of 10.64.

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

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.