SK hynix (NASDAQ:SKHY) Shares Gap Down – Should You Sell?

SK hynix Inc. (NASDAQ:SKHY)’s share price gapped down prior to trading on Monday . The stock had previously closed at $190.07, but opened at $174.93. SK hynix shares last traded at $178.2940, with a volume of 5,582,813 shares.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded SK hynix to a “strong-buy” rating in a report on Saturday, July 18th. Needham & Company LLC upped their price target on shares of SK hynix from $200.00 to $220.00 and gave the stock a “buy” rating in a research note on Monday, August 24th. Wolfe Research started coverage on shares of SK hynix in a research report on Tuesday, August 4th. They set an “outperform” rating and a $200.00 price objective on the stock. Singular Research upgraded shares of SK hynix to a “strong-buy” rating in a research note on Friday, July 10th. Finally, Royal Bank Of Canada started coverage on shares of SK hynix in a research note on Tuesday, August 4th. They issued an “outperform” rating and a $200.00 target price on the stock. Four research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $247.67.

SK hynix Trading Down 7.3%

The firm has a market cap of $1.29 trillion and a price-to-earnings ratio of 20.10. The business’s 50 day simple moving average is $160.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.59 and a quick ratio of 2.29.

SK hynix (NASDAQ:SKHY) last posted its quarterly earnings results on Tuesday, August 18th. The memory chip maker reported $8.48 earnings per share for the quarter. The business had revenue of $51.19 billion during the quarter. Research analysts forecast that SK hynix Inc. will post 25.61 earnings per share for the current 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.