SK hynix Inc. $SKHY Shares Newly Bought by Matthews International Capital Management LLC

Matthews International Capital Management LLC acquired a new position in SK hynix Inc. (NASDAQ:SKHY) during the third quarter, HoldingsChannel reports. The institutional investor acquired 18,383 shares of the memory chip maker’s stock, valued at approximately $3,385,000. SK hynix accounts for 1.4% of Matthews International Capital Management LLC’s portfolio, making the stock its 23rd biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in SKHY. Ramsey Quantitative Systems purchased a new position in shares of SK hynix during the third quarter valued at approximately $30,000. Richardson Financial Services Inc. bought a new stake in shares of SK hynix in the 3rd quarter worth approximately $50,000. Covestor Ltd purchased a new stake in shares of SK hynix in the 3rd quarter worth approximately $60,000. Entrust Financial LLC purchased a new stake in shares of SK hynix in the 3rd quarter worth approximately $119,000. Finally, Financial Management Professionals Inc. purchased a new stake in shares of SK hynix in the third quarter worth $129,000.

SK hynix Stock Down 3.5%

Shares of SKHY opened at $129.66 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.59 and a quick ratio of 2.29. SK hynix Inc. has a one year low of $122.20 and a one year high of $199.87. The business has a fifty day moving average price of $165.56.

SK hynix (NASDAQ:SKHY) last posted its quarterly earnings data on Wednesday, October 28th. The memory chip maker reported $3.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.96 by ($2.12). The company had revenue of $73.86 billion for the quarter, compared to the consensus estimate of $66.41 billion. On average, research analysts predict that SK hynix Inc. will post 25.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SKHY shares. Wolfe Research reaffirmed an “outperform” rating on shares of SK hynix in a research report on Wednesday, October 28th. UBS Group initiated coverage on shares of SK hynix in a research report on Wednesday, July 29th. They set a “buy” rating and a $204.00 price objective on the stock. Wells Fargo & Company restated a “buy” rating on shares of SK hynix in a research note on Wednesday, October 28th. Zacks Research raised shares of SK hynix to a “hold” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. assumed coverage on shares of SK hynix in a research note on Thursday, September 10th. They issued an “overweight” rating and a $245.00 target price on the stock. Four research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $247.80.

SK hynix Company Profile

SK hynix is a South Korean semiconductor company that develops and manufactures memory products for use in computers, mobile devices, data centers and other electronics. Its principal products include dynamic random-access memory (DRAM), NAND flash memory and high-bandwidth memory (HBM), as well as complementary metal-oxide-semiconductor (CMOS) image sensors. The company’s memory products support applications ranging from personal computing and smartphones to servers, artificial intelligence systems and automotive electronics.