SK hynix (NASDAQ:SKHY) Trading Up 3.4% – Time to Buy?

SK hynix Inc. (NASDAQ:SKHY)’s share price was up 3.4% on Tuesday . The stock traded as high as $196.48 and last traded at $195.37. 18,427,038 shares traded hands during mid-day trading, a decline of 39% from the average session volume of 30,285,895 shares. The stock had previously closed at $188.86.

Analyst Upgrades and Downgrades

SKHY has been the subject of a number of recent analyst reports. Wedbush raised SK hynix to a “strong-buy” rating in a research report on Tuesday, August 4th. Wolfe Research restated an “outperform” rating and set a $250.00 target price on shares of SK hynix in a research report on Wednesday. William Blair initiated coverage on SK hynix in a research report on Tuesday, August 4th. They issued an “outperform” rating for the company. UBS Group began coverage on SK hynix in a research report on Wednesday, July 29th. They issued a “buy” rating and a $204.00 price objective on the stock. Finally, Zacks Research upgraded shares of SK hynix to a “hold” rating in a research report on Friday, July 24th. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, SK hynix has an average rating of “Buy” and an average price target of $253.22.

SK hynix Trading Down 1.6%

The business’s 50-day moving average price is $162.99. The firm has a market capitalization of $1.36 trillion and a price-to-earnings ratio of 14.74. The company has a current ratio of 2.59, a quick ratio of 2.29 and a debt-to-equity ratio of 0.06.

SK hynix (NASDAQ:SKHY) last released its quarterly earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 EPS for the quarter. The business had revenue of $51.19 billion during the quarter. Analysts expect that SK hynix Inc. will post 25.69 earnings per share for the current year.

SK hynix Company Profile

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

The company was established in 1983 as Hyundai Electronic Industrial Co and later operated under the name Hynix Semiconductor before becoming SK hynix following its acquisition by SK Telecom in 2012.