SK hynix (NASDAQ:SKHY) Shares Gap Down – Should You Sell?

SK hynix Inc. (NASDAQ:SKHY) gapped down before the market opened on Wednesday . The stock had previously closed at $171.94, but opened at $162.16. SK hynix shares last traded at $166.9380, with a volume of 7,607,805 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SKHY. Singular Research upgraded shares of SK hynix to a “strong-buy” rating in a research report on Friday, July 10th. Wall Street Zen upgraded shares of SK hynix to a “strong-buy” rating in a research report on Saturday. Finally, Barclays initiated coverage on shares of SK hynix in a research note on Tuesday, July 14th. They set an “overweight” rating and a $330.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat.com, SK hynix has an average rating of “Strong Buy” and a consensus target price of $330.00.

SK hynix Price Performance

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.