이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
SK Hynix touches new high, rising to third place in market cap
- Collected
- 2016.10.07
- Distributed
- 2016.10.10
- Source
- Go Direct
On Wednesday, the chipmaker gained 1.91 percent to close at 42,600 won, flirting with a 52-week high of 42,950 won during the day. The company’s market cap jumped to 31.01 trillion won ($27.90 billion), overtaking Hyundai Motor whose market cap stood at 30.83 trillion won. SK Hynix ranked ninth with a market cap of 21.95 trillion won at the beginning of this year. It rose by six notches in 10 months. Hyundai Motor slid 0.72 percent, falling to third place. It closed Thursday 50 won lower at 42,550 won.
Institutional investors have been leading the buying spree. Institutional investors kept up net purchase on SK Hynxi shares for nine trade sessions from Sept. 21. They net sold just three days last month.
According to WISEfn Corp., SK Hynix is estimated to have earned 647.8 billion won in operation profit in the July-September period, up 43.3 percent from the second quarter, on sales of 4.16 trillion won, up 5.7 percent.
“SK Hynix’s profit growth will surpass market expectations on rebound in dynamic random access memory prices on top of steady profit from more lucrative mobile multi-chip packages,” said Yoo Jong-woo, an analyst at Korea Investment & Securities.
Stock target prices for SK Hynix have been upgraded. IBK Securities upped the ante to 55,000 won, while Kiwoon (53,000 won), NH Investment (52,000 won) and e-Best Investment (50,000 won) forecast there would be room for further upgrade.
By Chae Jong-won
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]