SK Hynix (SKHY) Stock Gains as Buyback Plan and Japan Factory Plans Fuel Investor Interest
TLDR
- SK Hynix stock rose over 2% in premarket Friday as chip-linked names caught a bid
- The company announced a $29 billion stock buyback, the largest treasury share cancellation by a South Korean listed company
- Samsung approved a rival shareholder return plan worth up to $78.9 billion for 2026
- J.P. Morgan analyst expects SK Hynix could commit to nearly $130 billion in additional shareholder returns through 2027
- SK Hynix is weighing a new memory-chip manufacturing facility in Japan’s Miyagi prefecture
SK Hynix (SKHY) stock rose more than 2% in Friday premarket trading, hitting $166.68, as investors responded to a string of bullish developments from the South Korean chipmaker.
The gains came as Nasdaq futures climbed 0.52% and S&P 500 futures added 0.32%, with chip-linked names broadly catching a bid.
SK Hynix this week unveiled a stock buyback plan worth roughly $29 billion, which it called the largest treasury share cancellation ever conducted by a South Korean listed company. The announcement came just weeks after the company’s U.S. listing.
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