SK hynix (NASDAQ:SKHY) Shares Up 2.2% – Here’s What Happened

SK hynix Inc. (NASDAQ:SKHY)’s stock price rose 2.2% during mid-day trading on Monday . The stock traded as high as $165.07 and last traded at $164.58. Approximately 12,045,646 shares traded hands during trading, a decline of 64% from the average daily volume of 33,794,465 shares. The stock had previously closed at $161.04.

Analyst Upgrades and Downgrades

SKHY has been the topic of several research reports. 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. William Blair initiated coverage on SK hynix in a research note on Tuesday, August 4th. They issued an “outperform” rating for the company. UBS Group began 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. Rosenblatt Securities began coverage on shares of SK hynix in a research note on Tuesday, August 4th. They issued a “buy” rating and a $320.00 target price for the company. Finally, Needham & Company LLC boosted their target price on shares of SK hynix from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Monday, August 24th. Three 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 company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $248.00.

SK hynix Stock Up 2.2%

SK hynix (NASDAQ:SKHY) last announced its quarterly 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. Research analysts predict that SK hynix Inc. will post 25.48 EPS for the current fiscal year.

SK hynix Company Profile

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.