Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. Purchases 6,430 Shares of SK hynix Inc. $SKHY

Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new position in SK hynix Inc. (NASDAQ:SKHY) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,430 shares of the memory chip maker’s stock, valued at approximately $1,184,000. SK hynix comprises 3.1% of Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s investment portfolio, making the stock its 6th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Pictet Asset Management Holding SA acquired a new position in shares of SK hynix during the third quarter valued at about $69,830,000. Brooklands Fund Management Ltd bought a new stake in shares of SK hynix in the third quarter valued at about $46,145,000. Lancaster Investment Management bought a new stake in shares of SK hynix in the third quarter valued at about $34,103,000. Asset Management One Co. Ltd. acquired a new stake in SK hynix during the third quarter worth about $21,554,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in SK hynix during the third quarter worth about $18,543,000.

SK hynix Price Performance

Shares of SK hynix stock opened at $137.71 on Friday. SK hynix Inc. has a 52-week low of $122.20 and a 52-week high of $199.87. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.29 and a current ratio of 2.59. The firm has a fifty day simple moving average of $164.64.

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

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SKHY. Citigroup upgraded SK hynix to a “strong-buy” rating in a research note on Wednesday, September 2nd. UBS Group initiated coverage on SK hynix in a research report on Wednesday, July 29th. They issued a “buy” rating and a $204.00 price objective for the company. Rosenblatt Securities raised their price objective on SK hynix from $320.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, October 28th. Zacks Research raised SK hynix to a “hold” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. started coverage on SK hynix in a research report on Thursday, September 10th. They set an “overweight” rating and a $245.00 price objective on the stock. Four investment analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $247.80.

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.