SK hynix (NASDAQ:SKHY) Raised to “Strong-Buy” at Citigroup

SK hynix (NASDAQ:SKHY) was upgraded by analysts at Citigroup to a “strong-buy” rating in a research report issued to clients and investors on Wednesday, Zacks reports.

Other research analysts have also recently issued reports about the company. Royal Bank Of Canada assumed coverage on SK hynix in a research report on Tuesday, August 4th. They issued an “outperform” rating and a $200.00 target price on the stock. Wolfe Research started coverage on 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 SK hynix from $330.00 to $300.00 and set an “overweight” rating on the stock in a report on Thursday, July 30th. Stifel Nicolaus began coverage on SK hynix in a report on Tuesday, August 4th. They set a “buy” rating and a $240.00 price target for the company. Finally, Rosenblatt Securities initiated coverage on SK hynix in a research report on Tuesday, August 4th. They issued a “buy” rating and a $320.00 price target for the company. Four investment 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 stock. According to MarketBeat.com, SK hynix presently has a consensus rating of “Buy” and a consensus target price of $248.00.

SK hynix Price Performance

Shares of SKHY stock opened at $163.68 on Wednesday. SK hynix has a 52 week low of $124.80 and a 52 week high of $194.80.

SK hynix (NASDAQ:SKHY) last issued its earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share (EPS) for the quarter. The company had revenue of $51.19 billion during the quarter. As a group, equities analysts predict that SK hynix will post 25.48 EPS for the current 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.