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

SK hynix Inc. (NASDAQ:SKHY) has earned an average recommendation of “Buy” from the twelve brokerages that are presently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold recommendation, eight have issued a buy recommendation and three have given a strong buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $248.00.

Several research firms recently commented on SKHY. Rosenblatt Securities began coverage on SK hynix in a report on Tuesday, August 4th. They issued a “buy” rating and a $320.00 price target for the company. Barclays dropped 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. Stifel Nicolaus began coverage on SK hynix in a research note on Tuesday, August 4th. They issued a “buy” rating and a $240.00 target price for the company. Needham & Company LLC lifted their price target on SK hynix from $200.00 to $220.00 and gave the stock a “buy” rating in a report on Monday, August 24th. Finally, Wall Street Zen raised shares of SK hynix to a “strong-buy” rating in a research report on Saturday, July 18th.

SK hynix Stock Performance

Shares of NASDAQ SKHY opened at $161.04 on Friday. SK hynix has a 12-month low of $124.80 and a 12-month 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 for the quarter. The business had revenue of $51.19 billion during the quarter. On average, equities analysts forecast that SK hynix 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.