SK Hynix reached a new all-time high in stock price, surpassing 2.6 million won during early trading on June 18.
According to the Korea Exchange, as of 9:49 a.m., SK Hynix shares were trading at 2,636,000 won, up from the previous trading day. The stock opened at 2,510,000 won and peaked at 2,642,000 won, setting a new record.
The surge in stock price is attributed to news of the supply of next-generation high-bandwidth memory (HBM) products. On this day, SK Hynix announced it had begun supplying samples of its seventh-generation AI memory, HBM4E, to key customers.
SK Hynix stated, "We were able to present the HBM4E 12-layer samples to our customers based on our accumulated HBM development capabilities and production know-how. We will ensure timely mass production through close collaboration with our key clients."
The company had also set a record high in stock price the previous day, driven by expectations of increased demand for AI semiconductors and the anticipation surrounding its American Depositary Receipt (ADR) listing.
Analysts have been raising their target prices for SK Hynix shares. Eugene Investment & Securities upgraded its target price to 3.7 million won, citing positive evaluations of the ADR listing and expectations for increased dividends. DB Investment & Securities also raised its target price to 3.1 million won.
Meanwhile, expectations for increased shareholder returns have led to buying interest in SK Square, the largest shareholder of SK Hynix. At the same time, SK Square shares were trading at 1,638,000 won, up 42,000 won (2.63%) from the previous trading day, having started at 1,596,000 won and expanding its gains during the session.
* This article has been translated by AI.
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