SK hynix (NASDAQ:SKHY) Stock Falls 1.4% – Should You Sell?

by · The Markets Daily

Shares of SK hynix Inc. (NASDAQ:SKHY – Get Free Report) dropped 1.4% on Wednesday. The company traded as low as $183.90 and last traded at $184.15. 10,451,767 shares were traded during trading, a decline of 63% from the average daily volume of 28,454,746 shares. The stock had previously closed at $186.68.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on SKHY shares. Wedbush upgraded shares of SK hynix to a “strong-buy” rating in a report on Tuesday, August 4th. Citigroup upgraded shares of SK hynix to a “strong-buy” rating in a research note on Wednesday, September 2nd. Wall Street Zen raised SK hynix to a “strong-buy” rating in a research report on Saturday, July 18th. Singular Research raised SK hynix to a “strong-buy” rating in a research report on Friday, July 10th. Finally, UBS Group initiated coverage on SK hynix in a research note on Wednesday, July 29th. They set a “buy” rating and a $204.00 target price on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $253.22.

View Our Latest Stock Analysis on SK hynix

SK hynix Trading Down 1.4%

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 company has a market cap of $1.35 trillion and a price-to-earnings ratio of 14.58. The stock has a 50-day moving average of $165.33.

SK hynix (NASDAQ:SKHY – Get Free Report) last posted its earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share (EPS) for the quarter. The firm had revenue of $51.19 billion during the quarter. On average, equities analysts expect that SK hynix Inc. will post 25.69 earnings per share for the current year.

About SK hynix

(Get Free Report)

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

The company serves customers worldwide through manufacturing, research and development, sales and support operations across Asia, North America, Europe and other markets.

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