SK hynix (NASDAQ:SKHY) Stock Price Down 1.4% – Here’s What Happened

SK hynix Inc. (NASDAQ:SKHY)’s share price dropped 1.4% during mid-day trading on Wednesday. The stock traded as low as $183.90 and last traded at $184.15. Approximately 10,451,767 shares were traded during mid-day trading, a decline of 63% from the average daily volume of 28,454,746 shares. The stock had previously closed at $186.68.

Analyst Upgrades and Downgrades

SKHY has been the subject of a number of research analyst reports. Royal Bank Of Canada started coverage on SK hynix in a report on Tuesday, August 4th. They issued an “outperform” rating and a $200.00 target price for the company. Zacks Research upgraded SK hynix to a “hold” rating in a research note on Friday, July 24th. Wall Street Zen raised shares of SK hynix to a “strong-buy” rating in a research note on Saturday, July 18th. UBS Group initiated coverage on SK hynix in a research note on Wednesday, July 29th. They issued a “buy” rating and a $204.00 price objective on the stock. Finally, Stifel Nicolaus began coverage on SK hynix in a research report on Tuesday, August 4th. They issued a “buy” rating and a $240.00 price target for the company. Four investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $253.22.

SK hynix Trading Up 5.1%

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 firm has a market cap of $1.41 trillion and a PE ratio of 15.32. The company’s 50-day moving average is $166.19.

SK hynix (NASDAQ:SKHY) last released its quarterly earnings data on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share (EPS) for the quarter. The firm had revenue of $51.19 billion for the quarter. Equities 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.