SK Hynix (SKHY) Stock Outpaces Micron With 9% Surge on Temasek Investment Report
TLDR
- SK Hynix $SKHY ADRs jumped 9% to $154.41 after a report that Singapore’s Temasek is planning to invest directly in the company
- Strong AI infrastructure spending, backed by upbeat results from CoreWeave and Super Micro, boosted sentiment across memory chip names
- Memory shortages are deepening, supporting pricing expectations for SK Hynix and peers
- Analysts carry an average “Buy” rating on SKHY with a consensus price target of $245.50
- SK Hynix’s quiet period ends August 19, when further company-specific commentary may follow
SK Hynix $SKHY surged 9% on Wednesday, with its U.S.-listed ADRs climbing to $154.41 during mid-day trading. The stock hit an intraday high of $155.16, up from a prior close of $141.65.
The catalyst? A report from Asia Business Daily said Singapore’s state-owned investment company Temasek, which manages roughly $400 billion in assets, was planning to invest directly in SK Hynix and was weighing its timing.
A Temasek spokesperson told Barron’s the group did not seek advice from the Korean government on the timing of its investments. The group neither confirmed nor denied new positions in SK Hynix or Samsung Electronics.
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