SK hynix (NASDAQ:SKHY) Reaches New 1-Year High – What’s Next?

SK hynix Inc. (NASDAQ:SKHY)’s stock price hit a new 52-week high on Wednesday . The stock traded as high as $196.48 and last traded at $194.2950, with a volume of 9296031 shares trading hands. The stock had previously closed at $185.55.

Analyst Ratings Changes

Several research analysts recently issued reports on SKHY shares. Citigroup raised shares of SK hynix to a “strong-buy” rating in a report on Wednesday, September 2nd. Singular Research raised SK hynix to a “strong-buy” rating in a report on Friday, July 10th. William Blair started coverage on SK hynix in a research report on Tuesday, August 4th. They set an “outperform” rating on the stock. Cantor Fitzgerald started coverage on SK hynix in a report on Tuesday, August 4th. They issued an “overweight” rating and a $300.00 price target for the company. Finally, Wall Street Zen upgraded SK hynix to a “strong-buy” rating in a research note on Saturday, July 18th. Four analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, SK hynix presently has a consensus rating of “Buy” and a consensus target price of $248.00.

SK hynix Price Performance

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 company has a market cap of $1.41 trillion and a P/E ratio of 22.10. The business has a 50-day moving average price of $157.76.

SK hynix (NASDAQ:SKHY) last announced its quarterly 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 for the quarter. On average, analysts expect that SK hynix Inc. will post 25.48 EPS for the current fiscal year.

About SK hynix

SK hynix Inc is a South Korean semiconductor manufacturer that develops and produces memory products for data centers, artificial intelligence systems, personal computers, mobile devices, automotive applications and other technology markets. Its portfolio includes dynamic random-access memory (DRAM), high-bandwidth memory (HBM), NAND flash memory, solid-state drives and related semiconductor solutions.

The company was established in 1983 as Hyundai Electronic Industrial Co and later operated under the name Hynix Semiconductor before becoming SK hynix following its acquisition by SK Telecom in 2012.