SK hynix (NASDAQ:SKHY) Earns Overweight Rating from Analysts at JPMorgan Chase & Co.

Stock analysts at JPMorgan Chase & Co. initiated coverage on shares of SK hynix (NASDAQ:SKHY) in a research note issued to investors on Thursday, Benzinga reports. The brokerage set an “overweight” rating and a $245.00 price target on the memory chip maker’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 23.34% from the stock’s previous close.

Several other research analysts have also recently commented on SKHY. Stifel Nicolaus began coverage on shares of SK hynix in a report on Tuesday, August 4th. They set a “buy” rating and a $240.00 target price for the company. 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 target on the stock. Wedbush upgraded SK hynix to a “strong-buy” rating in a report on Tuesday, August 4th. Barclays lowered their target price on SK hynix from $330.00 to $300.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Finally, William Blair initiated coverage on SK hynix in a report on Tuesday, August 4th. They set an “outperform” rating on the stock. Four analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $247.67.

SK hynix Stock Performance

NASDAQ:SKHY opened at $198.63 on Thursday. The stock’s 50-day moving average price is $158.71. SK hynix has a 52-week low of $124.80 and a 52-week high of $199.87. The company has a market capitalization of $1.45 trillion and a P/E ratio of 22.67. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.29 and a current ratio of 2.59.

SK hynix (NASDAQ:SKHY) last released its quarterly earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share for the quarter. The firm had revenue of $51.19 billion for the quarter. On average, research analysts predict 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 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.