SK hynix (NASDAQ:SKHY) Coverage Initiated by Analysts at JPMorgan Chase & Co.

Equities researchers at JPMorgan Chase & Co. began coverage on shares of SK hynix (NASDAQ:SKHY) in a research note issued on Thursday, Benzinga reports. The firm set an “overweight” rating and a $245.00 price target on the memory chip maker’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 23.34% from the stock’s current price.

Other analysts have also issued research reports about the stock. Needham & Company LLC lifted their target price on shares of SK hynix from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Wolfe Research started coverage on SK hynix in a research report on Tuesday, August 4th. They issued an “outperform” rating and a $200.00 price target on the stock. Royal Bank Of Canada assumed coverage on SK hynix in a report on Tuesday, August 4th. They issued an “outperform” rating and a $200.00 price objective for the company. UBS Group started coverage on SK hynix in a report on Wednesday, July 29th. They set a “buy” rating and a $204.00 target price on the stock. Finally, Cantor Fitzgerald began coverage on SK hynix in a research note on Tuesday, August 4th. They issued an “overweight” rating and a $300.00 price target for the company. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $247.67.

SK hynix Trading Up 7.0%

SK hynix stock opened at $198.63 on Thursday. The firm has a market cap of $1.45 trillion and a P/E ratio of 22.67. The company has a current ratio of 2.59, a quick ratio of 2.29 and a debt-to-equity ratio of 0.06. SK hynix has a 1 year low of $124.80 and a 1 year high of $199.87. The company’s 50-day simple moving average is $158.71.

SK hynix (NASDAQ:SKHY) last issued its quarterly 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 for the quarter. Research analysts forecast that SK hynix will post 25.48 EPS for the current year.

About SK hynix

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

The company was established in 1983 as Hyundai Electronic Industrial Co and later operated under the name Hynix Semiconductor before becoming SK hynix following its acquisition by SK Telecom in 2012.