SK hynix (NASDAQ:SKHY) Stock Falls 4.3% – Time to Sell?

SK hynix Inc. (NASDAQ:SKHY) fell 4.3% during trading on Thursday. The stock traded as low as $167.21 and last traded at $170.50. Approximately 21,966,395 shares changed hands during mid-day trading, a decline of 20% from the average session volume of 27,504,566 shares. The stock had previously closed at $178.25.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings assumed coverage on shares of SK hynix in a report on Friday, October 2nd. They issued a “hold (c)” rating on the stock. William Blair started coverage on shares of SK hynix in a research note on Tuesday, August 4th. They set an “outperform” rating for the company. Zacks Research upgraded shares of SK hynix to a “hold” rating in a research note on Friday, July 24th. UBS Group began coverage on shares of SK hynix in a research report on Wednesday, July 29th. They set a “buy” rating and a $204.00 price target for the company. Finally, Wedbush upgraded SK hynix to a “strong-buy” rating in a research report on Tuesday, August 4th. Four equities research analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $253.22.

SK hynix Stock Performance

The stock has a market cap of $1.23 trillion and a PE ratio of 13.38. The firm’s 50-day moving average price is $171.05. 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 (NASDAQ:SKHY) last announced its quarterly earnings data on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share (EPS) for the quarter. The business had revenue of $51.19 billion during the quarter. On average, equities analysts anticipate that SK hynix Inc. will post 25.69 earnings per share for the current fiscal year.

SK hynix Company Profile

SK hynix Inc is a South Korean semiconductor company that develops and manufactures memory products for data centers, personal computers, mobile devices, automotive systems and other technology applications. Its portfolio includes dynamic random-access memory (DRAM), high-bandwidth memory (HBM), NAND flash memory, solid-state drives and related semiconductor solutions.

The company serves customers worldwide through manufacturing, research and development, sales and support operations across Asia, North America, Europe and other markets.