SK hynix (NASDAQ:SKHY) Stock Price Down 4.3% – Should You Sell?

SK hynix Inc. (NASDAQ:SKHY) shares dropped 4.3% on Friday. The stock traded as low as $129.18 and last traded at $131.79. Approximately 16,168,929 shares traded hands during mid-day trading, a decline of 38% from the average session volume of 26,286,428 shares. The stock had previously closed at $137.71.

Analysts Set New Price Targets

SKHY has been the topic of a number of recent research reports. UBS Group started coverage on shares of SK hynix in a research note on Wednesday, July 29th. They set a “buy” rating and a $204.00 price objective on the stock. Wells Fargo & Company reissued a “buy” rating on shares of SK hynix in a research note on Wednesday, October 28th. JPMorgan Chase & Co. began coverage on SK hynix in a report on Thursday, September 10th. They set an “overweight” rating and a $245.00 target price for the company. Citigroup upgraded SK hynix to a “strong-buy” rating in a report on Wednesday, September 2nd. Finally, Wedbush raised SK hynix to a “strong-buy” rating in a research report on Tuesday, August 4th. Four analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $247.80.

SK hynix Trading Down 4.3%

The firm has a 50-day moving average of $164.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.29 and a current ratio of 2.59. The stock has a market capitalization of $962.72 billion and a PE ratio of 8.00.

SK hynix (NASDAQ:SKHY) last posted its quarterly earnings data on Wednesday, October 28th. The memory chip maker reported $3.84 EPS for the quarter, missing the consensus estimate of $5.96 by ($2.12). The company had revenue of $73.86 billion for the quarter, compared to analysts’ expectations of $66.41 billion. As a group, analysts predict that SK hynix Inc. will post 25.24 earnings per share for the current year.

Institutional Trading of SK hynix

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bessemer Group Inc. acquired a new stake in SK hynix in the third quarter worth about $226,201,000. Voya Investment Management LLC acquired a new position in shares of SK hynix during the third quarter valued at about $164,226,000. Pictet Asset Management Holding SA purchased a new position in shares of SK hynix in the 3rd quarter valued at approximately $69,830,000. Cullen Capital Management LLC purchased a new position in shares of SK hynix in the 3rd quarter valued at approximately $63,052,000. Finally, Aberdeen Group plc purchased a new position in shares of SK hynix in the 3rd quarter valued at approximately $54,030,000.

SK hynix Company Profile

SK hynix is a South Korean semiconductor company that develops and manufactures memory products for use in computers, mobile devices, data centers and other electronics. Its principal products include dynamic random-access memory (DRAM), NAND flash memory and high-bandwidth memory (HBM), as well as complementary metal-oxide-semiconductor (CMOS) image sensors. The company’s memory products support applications ranging from personal computing and smartphones to servers, artificial intelligence systems and automotive electronics.