FDx Advisors Inc. Buys New Holdings in SK hynix Inc. $SKHY

FDx Advisors Inc. purchased a new stake in SK hynix Inc. (NASDAQ:SKHY) in the third quarter, Holdings Channel reports. The firm purchased 9,166 shares of the memory chip maker’s stock, valued at approximately $1,688,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SKHY. Yarbrough Capital LLC acquired a new position in shares of SK hynix during the 3rd quarter valued at about $5,934,000. Capstone Capital Management Ltd purchased a new stake in shares of SK hynix in the third quarter valued at about $1,473,000. DUTCH ASSET Corp purchased a new stake in shares of SK hynix in the third quarter valued at about $2,066,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of SK hynix in the third quarter valued at about $6,777,000. Finally, Lancaster Investment Management acquired a new stake in SK hynix during the third quarter worth about $34,103,000.

Wall Street Analyst Weigh In

SKHY has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. assumed coverage on SK hynix in a report on Thursday, September 10th. They issued an “overweight” rating and a $245.00 price objective on the stock. William Blair reissued an “outperform” rating and set a $154.00 target price on shares of SK hynix in a research note on Friday, October 30th. Rosenblatt Securities lifted their target price on SK hynix from $320.00 to $400.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. UBS Group initiated coverage on SK hynix in a research note on Wednesday, July 29th. They issued a “buy” rating and a $204.00 price target on the stock. Finally, Wolfe Research reiterated an “outperform” rating on shares of SK hynix in a report on Wednesday, October 28th. Four analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $247.80.

SK hynix Trading Down 4.3%

NASDAQ:SKHY traded down $5.92 during mid-day trading on Friday, hitting $131.79. The stock had a trading volume of 16,266,352 shares, compared to its average volume of 24,158,156. The firm’s 50-day simple moving average is $164.00. The company has a market capitalization of $962.72 billion and a P/E ratio of 8.00. SK hynix Inc. has a twelve month low of $122.20 and a twelve month high of $199.87. 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 (NASDAQ:SKHY) last posted its quarterly earnings results on Wednesday, October 28th. The memory chip maker reported $3.84 EPS for the quarter, missing the consensus estimate of $5.96 by ($2.12). The business had revenue of $73.86 billion for the quarter, compared to the consensus estimate of $66.41 billion. Sell-side analysts predict that SK hynix Inc. will post 25.24 EPS 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.