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.
The short version
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
Why it matters
SK Hynix is a South Korean semiconductor supplier and a major supplier of memory chips to technology companies worldwide.2
- More on
- Stocks
This account was written from the 2 reports listed below, filed by 2 independent outlets, and checked against them line by line. It is not a copy of any one of them. Spotted an error? Tell us.
Discussion
0Comments are screened automatically. Disagreement is fine; abuse and spam are not.
Loading…
Related
US imposes 15% tariff on polysilicon to counter China
New 15% tariff and price floors aim to reduce reliance on Chinese-dominated polysilicon supply chain for solar panels and semiconductors.
News Øresund - Johan Wessman / CC BY 3.0Novo Nordisk shares fall as Wegovy pill sales miss forecasts
Novo Nordisk raised its full-year guidance for obesity and diabetes drugs but its US shares declined after the Wegovy weight-loss pill's sales did not meet analyst expectations.
Alexander Hatley from Spring, Texas, USA / CC BY 2.0SpaceX revenue jumps 92% in first earnings after IPO
SpaceX reported $7.8 billion in quarterly revenue, a 92% increase, but posted a $541 million net loss in its first earnings report since going public in June.
FDV / CC BY-SA 4.0AstraZeneca shares drop after $400bn Bristol-Myers deal talks
A potential $400bn merger between AstraZeneca and Bristol-Myers Squibb would create the world's fourth-largest drugmaker but faces investor skepticism.