SK hynix (NASDAQ:SKHY) Trading Up 4.8% – Still a Buy?

SK hynix Inc. (NASDAQ:SKHY)’s share price rose 4.8% during trading on Tuesday . The company traded as high as $189.82 and last traded at $185.55. 22,909,130 shares were traded during trading, a decline of 28% from the average session volume of 31,640,094 shares. The stock had previously closed at $177.00.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Royal Bank Of Canada began coverage on shares of SK hynix in a research report on Tuesday, August 4th. They set an “outperform” rating and a $200.00 price objective for the company. Singular Research upgraded shares of SK hynix to a “strong-buy” rating in a research note on Friday, July 10th. Wolfe Research began coverage on shares of SK hynix in a research note on Tuesday, August 4th. They issued an “outperform” rating and a $200.00 price objective for the company. Barclays decreased their target price on shares of SK hynix from $330.00 to $300.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Finally, Zacks Research upgraded SK hynix to a “hold” rating in a research report on Friday, July 24th. Four analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $248.00.

SK hynix Stock Up 4.8%

The business’s 50 day moving average is $157.08. 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 issued its quarterly earnings data on Tuesday, August 18th. The memory chip maker reported $8.48 EPS for the quarter. The company had revenue of $51.19 billion for the quarter. Equities research analysts expect that SK hynix Inc. will post 25.48 EPS for the current fiscal year.

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.