SK hynix Inc. (NASDAQ:SKHY) Receives Consensus Recommendation of “Buy” from Analysts

Shares of SK hynix Inc. (NASDAQ:SKHY) have received a consensus recommendation of “Buy” from the thirteen ratings firms that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and four have assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $248.00.

Several analysts have recently issued reports on the company. Stifel Nicolaus assumed coverage on SK hynix in a research note on Tuesday, August 4th. They issued a “buy” rating and a $240.00 price objective on the stock. Zacks Research upgraded SK hynix to a “hold” rating in a report on Friday, July 24th. Singular Research raised SK hynix to a “strong-buy” rating in a research report on Friday, July 10th. Wolfe Research initiated 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. Finally, Royal Bank Of Canada initiated 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.

SK hynix Stock Performance

Shares of SKHY opened at $177.00 on Friday. SK hynix has a fifty-two week low of $124.80 and a fifty-two week high of $194.80.

SK hynix (NASDAQ:SKHY) last released its earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share (EPS) for the quarter. The business had revenue of $51.19 billion for the quarter. On average, analysts expect that SK hynix will post 25.48 earnings per share 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.