SK hynix Inc.’s Quiet Period Will Expire Tomorrow (NASDAQ:SKHY)

SK hynix’s (NASDAQ:SKHY) quiet period will expire on Wednesday, August 19th. SK hynix had issued 177,900,000 shares in its public offering on July 10th. The total size of the offering was $26,507,100,000 based on an initial share price of $149.00. During SK hynix’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

Analyst Ratings Changes

Several analysts recently issued reports on SKHY shares. Royal Bank Of Canada assumed coverage on SK hynix in a report on Tuesday, August 4th. They issued an “outperform” rating and a $200.00 price target for the company. Zacks Research upgraded SK hynix to a “hold” rating in a research note on Friday, July 24th. Singular Research raised SK hynix to a “strong-buy” rating in a research report on Friday, July 10th. Barclays lowered their target price on SK hynix from $330.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Finally, Stifel Nicolaus began coverage on SK hynix in a report on Tuesday, August 4th. They set a “buy” rating and a $240.00 target price on the stock. Three investment analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, SK hynix has a consensus rating of “Buy” and a consensus target price of $245.50.

SK hynix Stock Up 3.0%

SKHY opened at $171.38 on Tuesday. SK hynix has a twelve month low of $124.80 and a twelve month high of $194.80.

SK hynix (NASDAQ:SKHY) last issued its quarterly earnings data on Wednesday, July 29th. The memory chip maker reported $8.76 EPS for the quarter, topping analysts’ consensus estimates of $5.12 by $3.64. The firm had revenue of $52.83 billion during the quarter, compared to analyst estimates of $59.05 billion. On average, sell-side analysts expect that SK hynix will post 25.48 EPS for the current fiscal year.

About SK hynix

SK hynix Inc is a South Korea-based semiconductor company that develops, manufactures, and sells memory products used in a wide range of electronic devices and computing systems. Its portfolio includes DRAM, NAND flash, and other memory solutions that support applications such as servers, PCs, mobile devices, and consumer electronics.

The company serves customers globally through the semiconductor supply chain and is recognized as one of the major memory chip producers in the industry.