SK hynix (NASDAQ:SKHY) Upgraded by Citigroup to Strong-Buy Rating

SK hynix (NASDAQ:SKHY) was upgraded by Citigroup to a “strong-buy” rating in a report issued on Wednesday, Zacks reports.

SKHY has been the topic of several other reports. Needham & Company LLC raised their price objective on SK hynix from $200.00 to $220.00 and gave the company a “buy” rating in a research report on Monday, August 24th. William Blair started coverage on SK hynix in a research report on Tuesday, August 4th. They issued an “outperform” rating for the company. Singular Research upgraded SK hynix to a “strong-buy” rating in a research note on Friday, July 10th. Wolfe Research started coverage on SK hynix in a report on Tuesday, August 4th. They set an “outperform” rating and a $200.00 target price on the stock. Finally, Royal Bank Of Canada assumed coverage on SK hynix in a research report on Tuesday, August 4th. They set an “outperform” rating and a $200.00 price target on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $248.00.

SK hynix Stock Performance

SK hynix stock opened at $163.68 on Wednesday. SK hynix has a 52-week low of $124.80 and a 52-week high of $194.80.

SK hynix (NASDAQ:SKHY) last posted its earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share for the quarter. The business had revenue of $51.19 billion for the quarter. As a group, equities research analysts predict that SK hynix will post 25.48 EPS for the current fiscal year.

SK hynix Company Profile

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.