SK hynix (NASDAQ:SKHY) Stock Price Down 6.4% – What’s Next?
by Danessa Lincoln · The Markets DailySK hynix Inc. (NASDAQ:SKHY – Get Free Report)’s share price traded down 6.4% during trading on Tuesday. The stock traded as low as $180.91 and last traded at $182.56. Approximately 21,502,335 shares changed hands during mid-day trading, a decline of 22% from the average daily volume of 27,695,129 shares. The stock had previously closed at $195.02.
Analysts Set New Price Targets
Several analysts have recently weighed in on SKHY shares. Singular Research raised SK hynix to a “strong-buy” rating in a report on Friday, July 10th. Wedbush upgraded shares of SK hynix to a “strong-buy” rating in a research note on Tuesday, August 4th. Needham & Company LLC increased their price objective on shares of SK hynix from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Wall Street Zen upgraded shares of SK hynix to a “strong-buy” rating in a research report on Saturday, July 18th. Finally, Barclays dropped their price target on shares of SK hynix from $330.00 to $300.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $253.22.
View Our Latest Stock Analysis on SKHY
SK hynix Stock Performance
The stock has a market cap of $1.24 trillion and a price-to-earnings ratio of 13.41. The company has a current ratio of 2.59, a quick ratio of 2.29 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average price of $170.12.
SK hynix (NASDAQ:SKHY – Get Free Report) last announced its earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 EPS for the quarter. The business had revenue of $51.19 billion during the quarter. Equities research analysts expect that SK hynix Inc. will post 25.69 EPS for the current fiscal year.
SK hynix Company Profile
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.