SK Hynix shares rise on buyback speculation
SK Hynix shares advanced after overnight gains in US chipmakers and reports of a potential shareholder return plan.
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SK Hynix shares rose after a rally in US chipmakers and speculation about a shareholder return plan. Analysts also upgraded price targets for the stock.
Shares of SK Hynix Inc. advanced following an overnight rally in US chipmakers.2 Investors speculated that SK Hynix may soon unveil buybacks and other details of a broader shareholder return plan.2 Cantor Fitzgerald set a price target for SK Hynix shares, stating they would double in the next 12 months.1
Cantor Fitzgerald was described as the most bullish on SK Hynix stock among analysts.1
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SK Hynix is a South Korean semiconductor supplier and a major supplier of memory chips to technology companies worldwide.2
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