Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. Buys New Stake in SK hynix Inc. $SKHY

Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. bought a new position in shares of SK hynix Inc. (NASDAQ:SKHY) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,430 shares of the memory chip maker’s stock, valued at approximately $1,184,000. SK hynix accounts for 3.1% of Mitsubishi UFJ Morgan Stanley Securities Co. Ltd.’s investment portfolio, making the stock its 6th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SKHY. Ramsey Quantitative Systems acquired a new position in SK hynix during the third quarter valued at approximately $30,000. Richardson Financial Services Inc. acquired a new stake in shares of SK hynix in the third quarter worth $50,000. Covestor Ltd acquired a new stake in shares of SK hynix in the third quarter worth $60,000. Silver Grove Financial Group Inc. acquired a new stake in shares of SK hynix in the third quarter worth $80,000. Finally, Entrust Financial LLC acquired a new stake in shares of SK hynix in the third quarter worth $119,000.

Wall Street Analyst Weigh In

SKHY has been the subject of several recent analyst reports. JPMorgan Chase & Co. began coverage on shares of SK hynix in a report on Thursday, September 10th. They set an “overweight” rating and a $245.00 price objective for the company. Zacks Research upgraded shares of SK hynix to a “hold” rating in a report on Friday, July 24th. Wolfe Research reissued an “outperform” rating on shares of SK hynix in a research report on Wednesday, October 28th. Stifel Nicolaus initiated coverage on shares of SK hynix in a research report on Tuesday, August 4th. They set a “buy” rating and a $240.00 target price for the company. Finally, Wall Street Zen upgraded shares of SK hynix to a “strong-buy” rating in a report on Saturday, July 18th. Four investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, SK hynix currently has a consensus rating of “Buy” and a consensus price target of $247.80.

SK hynix Stock Down 3.2%

SKHY opened at $137.71 on Friday. The firm has a 50 day simple moving average of $164.64. The company has a current ratio of 2.59, a quick ratio of 2.29 and a debt-to-equity ratio of 0.06. SK hynix Inc. has a 12-month low of $122.20 and a 12-month high of $199.87.

SK hynix (NASDAQ:SKHY) last issued its quarterly earnings results on Wednesday, October 28th. The memory chip maker reported $3.84 EPS for the quarter, missing the consensus estimate of $5.96 by ($2.12). The business had revenue of $73.86 billion during the quarter, compared to the consensus estimate of $66.41 billion. On average, sell-side analysts anticipate that SK hynix Inc. will post 25.24 EPS for the current year.

SK hynix 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.