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

Citigroup upgraded shares of SK hynix (NASDAQ:SKHY) to a strong-buy rating in a report published on Wednesday morning,Zacks reports.

Several other research firms have also issued reports on SKHY. Cantor Fitzgerald initiated coverage on SK hynix in a research note on Tuesday, August 4th. They set an “overweight” rating and a $300.00 price objective for the company. Zacks Research raised shares of SK hynix to a “hold” rating in a report on Friday, July 24th. Wedbush raised shares of SK hynix to a “strong-buy” rating in a report on Tuesday, August 4th. UBS Group started coverage on shares of SK hynix in a report on Wednesday, July 29th. They set a “buy” rating and a $204.00 price target for the company. Finally, William Blair assumed coverage on shares of SK hynix in a research report on Tuesday, August 4th. They issued an “outperform” rating on the stock. Four equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, SK hynix currently has a consensus rating of “Buy” and an average price target of $248.00.

SK hynix Stock Performance

SKHY stock opened at $163.68 on Wednesday. SK hynix has a 1-year low of $124.80 and a 1-year high of $194.80.

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