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

SK hynix (NASDAQ:SKHY) was upgraded by equities researchers at Wedbush to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other analysts have also recently issued reports on SKHY. UBS Group initiated 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 for the company. Wolfe Research assumed coverage on SK hynix in a research report on Tuesday. They issued an “outperform” rating and a $200.00 target price on the stock. Needham & Company LLC initiated coverage on SK hynix in a report on Tuesday. They issued a “buy” rating and a $200.00 target price on the stock. Zacks Research raised SK hynix to a “hold” rating in a research report on Friday, July 24th. Finally, Barclays dropped their price target on SK hynix from $330.00 to $300.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, SK hynix has a consensus rating of “Buy” and an average target price of $245.50.

SK hynix Trading Up 8.2%

SKHY opened at $154.38 on Tuesday. SK hynix has a 1 year low of $124.80 and a 1 year high of $194.80.

SK hynix (NASDAQ:SKHY) last issued its quarterly earnings results on Wednesday, July 29th. The memory chip maker reported $8.76 EPS for the quarter, topping the consensus estimate of $5.12 by $3.64. The company had revenue of $52.83 billion for the quarter, compared to analyst estimates of $59.05 billion.

Key Stories Impacting SK hynix

Here are the key news stories impacting SK hynix this week:

• Positive Sentiment: Six Wall Street firms initiated coverage with Buy-equivalent ratings, citing SK hynix’s leading position in high-bandwidth memory (HBM), strong AI-related demand, and access to a broader U.S. investor base. Price targets ranged from $200 to $320, including Stifel’s $240 target, Needham’s and Wolfe Research’s $200 targets, Cantor Fitzgerald’s $300 target, and Rosenblatt’s $320 target. SK Hynix rises as brokerages launch coverage with bullish ratings
• Positive Sentiment: Wedbush also began coverage with an Outperform rating and a KRW2.56 million price target, pointing to persistent memory undersupply, SK hynix’s technology advantage, and an attractive valuation. SK Hynix backed by Wedbush as memory undersupply persists
• Positive Sentiment: SK hynix and SanDisk unveiled an open industry standard for high-bandwidth flash (HBF), designed to address AI systems’ growing storage and memory constraints. The proposed technology targets up to 512GB capacity and 3.0TB/s speeds, with support from Google and Tenstorrent, potentially expanding future demand for SK hynix memory products. SK hynix, SanDisk race to fix AI’s next chip bottleneck
• Positive Sentiment: Broader enthusiasm for the AI-memory boom lifted semiconductor and storage stocks, while commentary increasingly characterized SK hynix as a central supplier to AI infrastructure. SK Hynix stock rises as Wall Street sees AI memory upside
• Neutral Sentiment: SK hynix and a South Korean union held another round of negotiations over employee bonus payments. A costly agreement could pressure margins, although no resolution was reported. SK Hynix and South Korean union hold talks over bonus pay
• Negative Sentiment: Investors remain alert to competitive risks from China’s CXMT, which is considering additional DRAM capacity that could eventually ease the global memory shortage and weaken pricing power. Why are memory stocks falling? CXMT might hold the clue

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.