SK Hynix (SKHY) Stock: Needham Raises Price Target to $220 After Record Buyback Plan
TLDR
- Needham analyst Quinn Bolton raised his SK Hynix price target from $200 to $220, keeping a Buy rating
- SK Hynix’s board approved a 40 trillion won share repurchase, equal to about 3.3% of total shares
- JPMorgan estimates SK Hynix could return at least $130 billion to shareholders through 2027
- SKHY stock fell around 5% Monday after South Korea’s presidential office gave no clarity on U.S. trade talks
- Wall Street holds a Strong Buy consensus on SKHY with an average price target of $248
SK Hynix (SKHY) is getting fresh attention from Wall Street after Needham analyst Quinn Bolton lifted his price target to $220 from $200, while keeping a Buy rating. The move follows one of the company’s largest shareholder return programs to date.
SK Hynix’s board approved a 40 trillion won share repurchase, covering around 24 million shares, or roughly 3.3% of its total share count. The company also raised its 2025-2027 shareholder return goal to “over 50%” of cumulative free cash flow, up from “within 50%.”
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