SK hynix (NASDAQ:SKHY) Hits New 1-Year Low – Should You Sell?

SK hynix Inc. (NASDAQ:SKHY) reached a new 52-week low during trading on Thursday. The company traded as low as $124.35 and last traded at $124.2390, with a volume of 18,965,141 shares. The stock had previously closed at $143.07.

SK hynix News Summary

Here are the key news stories impacting SK hynix this week:

• Positive Sentiment: AI infrastructure spending continues to support demand for memory chips, with one report saying supply remains insufficient to meet needs. That outlook could benefit SK hynix’s memory business if demand stays strong. SK Hynix Just Announced Huge News for Micron Shareholders
• Neutral Sentiment: South Korean semiconductor exports jumped 93.7% in October, signaling robust industry demand. However, the report also noted bearish trading activity weighing on South Korean equities, so strong export figures have not translated into uniformly positive investor sentiment. South Korea’s Chip Exports Are Soaring—So Why Is This ETF Down 20?
• Negative Sentiment: A Wall Street sell-off in AI and technology stocks spread to Asia, pressuring SK hynix and other regional technology names. Reports cited investor concern about the cost of financing the AI build-out, while a separate account described continued selling in memory stocks as investors reduced exposure to AI-linked chipmakers. AI stock bloodbath hits Asia as Samsung, SK Hynix and SoftBank plunge Nasdaq sell-off batters Asian chip stocks
• Negative Sentiment: Qualcomm’s reported 26% handset-related plunge added to concerns about mobile demand and intensified the memory-chip sell-off, creating a potential headwind beyond AI-related demand. SK hynix Sinks 9% as Qualcomm’s 26% Handset Plunge Deepens Memory Chip Rout
• Negative Sentiment: Analyst concerns about SK hynix missing out on a U.S. plant and a reported delay in export approval for equipment bound for its China NAND facility raise questions about investment plans and execution. SK Hynix losing out on US plant has major implications, Wedbush says Why SK Hynix Plunged Today

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. started coverage on SK hynix in a research report on Thursday, September 10th. They issued an “overweight” rating and a $245.00 price target for the company. Wall Street Zen upgraded SK hynix to a “strong-buy” rating in a report on Saturday, July 18th. Singular Research raised SK hynix to a “strong-buy” rating in a research report on Friday, July 10th. Citigroup upgraded shares of SK hynix to a “strong-buy” rating in a research note on Wednesday, September 2nd. Finally, Stifel Nicolaus initiated coverage on SK hynix in a research note on Tuesday, August 4th. They set a “buy” rating and a $240.00 price target for the company. Four research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, SK hynix presently has a consensus rating of “Buy” and an average price target of $247.80.

SK hynix Stock Up 2.8%

The stock’s fifty day moving average price is $166.79. The company has a current ratio of 2.59, a quick ratio of 2.29 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $930.21 billion and a price-to-earnings ratio of 10.08.

SK hynix (NASDAQ:SKHY) last posted its quarterly earnings data on Wednesday, October 28th. The memory chip maker reported $3.84 EPS for the quarter, missing the consensus estimate of $5.96 by ($2.12). The firm had revenue of $73.86 billion during the quarter, compared to analysts’ expectations of $66.41 billion. As a group, research analysts forecast that SK hynix Inc. will post 25.24 EPS for the current year.

Hedge Funds Weigh In On SK hynix

Several large investors have recently added to or reduced their stakes in SKHY. Diversified Trust Co bought a new stake in shares of SK hynix during the 3rd quarter valued at $781,000. Aberdeen Group plc bought a new position in SK hynix in the 3rd quarter worth $54,030,000. William Blair Investment Management LLC bought a new position in SK hynix in the 3rd quarter worth $6,301,000. Russell Investments Group Ltd. purchased a new stake in SK hynix in the 3rd quarter worth $33,426,000. Finally, Eurizon Asset Management Slovakia sprav. spol. a.s. purchased a new stake in SK hynix in the 3rd quarter worth $182,000.

SK hynix Company Profile

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.