SK hynix (NASDAQ:SKHY) Stock Falls 2.4% – Time to Sell?

Shares of SK hynix Inc. (NASDAQ:SKHY) traded down 2.4% during trading on Wednesday. The stock traded as low as $176.70 and last traded at $178.25. Approximately 18,672,914 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 27,512,221 shares. The stock had previously closed at $182.56.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of SK hynix in a research note on Tuesday, August 4th. They issued an “outperform” rating and a $200.00 price objective for the company. JPMorgan Chase & Co. initiated coverage on shares of SK hynix in a report on Thursday, September 10th. They set an “overweight” rating and a $245.00 target price on the stock. Wolfe Research reiterated an “outperform” rating and issued a $250.00 price target on shares of SK hynix in a research report on Wednesday, September 23rd. Weiss Ratings initiated coverage on SK hynix in a research report on Friday. They set a “hold (c)” rating on the stock. Finally, Rosenblatt Securities began coverage on SK hynix in a research note on Tuesday, August 4th. They set a “buy” rating and a $320.00 price objective on the stock. Four investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, SK hynix presently has an average rating of “Buy” and an average price target of $253.22.

SK hynix Stock Down 2.4%

The company has a quick ratio of 2.29, a current ratio of 2.59 and a debt-to-equity ratio of 0.06. The stock has a market cap of $1.30 trillion and a PE ratio of 14.11. The stock has a 50 day moving average price of $169.09.

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

About SK hynix

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.