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

SK hynix Inc. (NASDAQ:SKHY)’s share price traded down 4.3% during trading on Friday. The stock traded as low as $129.18 and last traded at $131.79. Approximately 16,168,929 shares traded hands during mid-day trading, a decline of 38% from the average daily volume of 26,286,428 shares. The stock had previously closed at $137.71.

Analyst Ratings Changes

Several research firms have issued reports on SKHY. Cantor Fitzgerald decreased their price target on shares of SK hynix from $300.00 to $250.00 and set an “overweight” rating on the stock in a research report on Monday, October 26th. UBS Group started coverage on SK hynix in a research note on Wednesday, July 29th. They set a “buy” rating and a $204.00 price objective for the company. Needham & Company LLC boosted their target price on SK hynix from $220.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Barclays reduced their target price on SK hynix from $330.00 to $300.00 and set an “overweight” rating for the company in a report on Thursday, July 30th. Finally, Citigroup upgraded SK hynix to a “strong-buy” rating in a research report on Wednesday, September 2nd. Four analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $247.80.

SK hynix Trading Down 4.3%

The business has a 50-day moving average of $164.64. 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 stock has a market cap of $962.72 billion and a PE ratio of 8.00.

SK hynix (NASDAQ:SKHY) last released its earnings results 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 firm had revenue of $73.86 billion during the quarter, compared to the consensus estimate of $66.41 billion. As a group, research analysts expect that SK hynix Inc. will post 25.24 earnings per share for the current year.

Hedge Funds Weigh In On SK hynix

A number of large investors have recently made changes to their positions in SKHY. Ramsey Quantitative Systems acquired a new stake in shares of SK hynix during the 3rd quarter valued at about $30,000. Richardson Financial Services Inc. acquired a new position in SK hynix in the third quarter worth approximately $50,000. Covestor Ltd bought a new position in SK hynix during the third quarter valued at approximately $60,000. Morse Asset Management Inc bought a new position in SK hynix during the third quarter valued at approximately $74,000. Finally, Silver Grove Financial Group Inc. acquired a new stake in SK hynix in the third quarter valued at approximately $80,000.

About SK hynix

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.