NH Investment & Securities announced on June 22 that it has raised its target price for SK Square from 1.1 million won to 2.7 million won, citing the ongoing rise in SK Hynix's stock price and the benefits of a semiconductor-focused investment strategy. The firm maintained its "buy" rating.
Analyst Ahn Jae-min stated in a report that SK Square's business direction aligns with SK Group's growth strategy centered on semiconductors.
Ahn noted that the company is continuously exploring business expansions that can create synergies with SK Hynix within the semiconductor value chain. He anticipates that following SK Hynix's issuance of American Depositary Receipts (ADRs), the company's shareholder return policy will strengthen. If SK Hynix increases its dividend per share (DPS) to 13,000 won, SK Square could receive 1.9 trillion won in dividend income, which would enable it to pursue active mergers and acquisitions (M&A).
He also mentioned that SK Square has actively engaged in shareholder returns through share buybacks, cancellations, and cash dividends. In June 2026, the company paid a dividend of 1,500 won per share (totaling 204.3 billion won) and plans to buy back 40 billion won worth of shares in 2026 and 70 billion won in 2027.
Ahn assessed that the semiconductor market is expected to grow in importance with the rise of Agent AI, highlighting the significance of tokens and central processing units (CPUs), as well as the increasing relevance of cloud and edge devices.
He added that the demand for DRAM capacity required for single AI inference servers continues to rise, and prices for high-bandwidth memory (HBM) are also on the rise. This trend is expected to drive up SK Hynix's stock price and, consequently, enhance SK Square's corporate value.
* This article has been translated by AI.
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