Corporate Logo(source: skhynix.com)
Hanwha Investment & Securities raised its target price for SK Hynix (000660) to 360,000 won from 290,000 won on June 27, citing expectations that next year’s earnings growth could begin to be priced into the stock. The firm maintained its "Buy" investment rating. SK Hynix closed at 293,000 won on the previous day.
Analyst Kim Gwang-jae estimated second-quarter revenue at 20.8 trillion won, up 18% quarter-on-quarter, and operating profit at 9 trillion won, a 23% increase.
“Despite negative foreign exchange impacts from a weaker won, the company is expected to deliver strong earnings that align with the market’s high expectations,” Kim stated, highlighting the full-scale expansion of HBM3E 12-high sales as the key growth driver.
He projected operating profit in the second half to rise to 21.4 trillion won, adding, “The continued improvement in product mix from expanded HBM3E 12-high sales, along with relatively strong conventional DRAM pricing compared to competitors, will provide additional upside.”
Kim also noted that now is a timely juncture for expectations regarding next year’s HBM market to be reflected in the share price. “While competition is expected to intensify next year due to the growing presence of latecomers, in contrast to this year’s near-monopoly, the market’s steep growth trajectory and SK Hynix’s leadership position remain intact,” he said.
He projected SK Hynix’s HBM shipments to increase from approximately 12.2 billion Gb this year to 17.2 billion Gb in 2025.
“The recent rally in the company’s stock reflects a normalization from a prolonged period of undervaluation. Going forward, we believe expectations for 2025 earnings growth are likely to become a key driver of the share price,” Kim concluded.
*[KOSPI] SK hynix(000660) is the second-largest company on the KOSPI specializing in memory semiconductors such as DRAM, NAND flash, and MCP. The market capitalization is 144.504 trillion won (as of June 26, 2025, closing price).
*[KOSPI] SK hynix(000660) is the second-largest company on the KOSPI specializing in memory semiconductors such as DRAM, NAND flash, and MCP. The market capitalization is 213.305 trillion won (as of June 26, 2025, closing price).
Corporate Logo(source: skhynix.com)
Hanwha Investment & Securities raised its target price for SK Hynix (000660) to 360,000 won from 290,000 won on June 27, citing expectations that next year’s earnings growth could begin to be priced into the stock. The firm maintained its "Buy" investment rating. SK Hynix closed at 293,000 won on the previous day.
Analyst Kim Gwang-jae estimated second-quarter revenue at 20.8 trillion won, up 18% quarter-on-quarter, and operating profit at 9 trillion won, a 23% increase.
“Despite negative foreign exchange impacts from a weaker won, the company is expected to deliver strong earnings that align with the market’s high expectations,” Kim stated, highlighting the full-scale expansion of HBM3E 12-high sales as the key growth driver.
He projected operating profit in the second half to rise to 21.4 trillion won, adding, “The continued improvement in product mix from expanded HBM3E 12-high sales, along with relatively strong conventional DRAM pricing compared to competitors, will provide additional upside.”
Kim also noted that now is a timely juncture for expectations regarding next year’s HBM market to be reflected in the share price. “While competition is expected to intensify next year due to the growing presence of latecomers, in contrast to this year’s near-monopoly, the market’s steep growth trajectory and SK Hynix’s leadership position remain intact,” he said.
He projected SK Hynix’s HBM shipments to increase from approximately 12.2 billion Gb this year to 17.2 billion Gb in 2025.
“The recent rally in the company’s stock reflects a normalization from a prolonged period of undervaluation. Going forward, we believe expectations for 2025 earnings growth are likely to become a key driver of the share price,” Kim concluded.
*[KOSPI] SK hynix(000660) is the second-largest company on the KOSPI specializing in memory semiconductors such as DRAM, NAND flash, and MCP. The market capitalization is 144.504 trillion won (as of June 26, 2025, closing price).
*[KOSPI] SK hynix(000660) is the second-largest company on the KOSPI specializing in memory semiconductors such as DRAM, NAND flash, and MCP. The market capitalization is 213.305 trillion won (as of June 26, 2025, closing price).