SK hynix (NASDAQ:SKHY) Stock Price Down 4.3% – Should You Sell?

SK hynix Inc. (NASDAQ:SKHY)’s share price was down 4.3% during trading on Thursday. The company traded as low as $167.21 and last traded at $170.50. Approximately 21,966,395 shares changed hands during trading, a decline of 20% from the average session volume of 27,504,566 shares. The stock had previously closed at $178.25.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on SKHY shares. Needham & Company LLC lifted their price objective on shares of SK hynix from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Monday, August 24th. Weiss Ratings started coverage on shares of SK hynix in a research report on Friday, October 2nd. They issued a “hold (c)” rating for the company. Wedbush upgraded SK hynix to a “strong-buy” rating in a report on Tuesday, August 4th. Rosenblatt Securities initiated coverage on shares of SK hynix in a research note on Tuesday, August 4th. They set a “buy” rating and a $320.00 target price for the company. Finally, Wall Street Zen raised SK hynix to a “strong-buy” rating in a research note on Saturday, July 18th. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $253.22.

SK hynix Price Performance

The stock has a fifty day simple moving average of $170.12. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.59 and a quick ratio of 2.29. The firm has a market cap of $1.25 trillion and a price-to-earnings ratio of 13.50.

SK hynix (NASDAQ:SKHY) last issued its earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share (EPS) for the quarter. The firm had revenue of $51.19 billion during the quarter. Equities analysts forecast that SK hynix Inc. will post 25.69 EPS for the current fiscal year.

SK hynix Company Profile

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

The company serves customers worldwide through manufacturing, research and development, sales and support operations across Asia, North America, Europe and other markets.