SK Hynix's stock price surged past 2.6 million won, setting a new all-time high 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, marking a new record.
The rise in stock price is attributed to news regarding the supply of next-generation high-bandwidth memory (HBM) products. On the same day, SK Hynix announced it had begun supplying samples of its seventh-generation AI memory, HBM4E, to key clients.
SK Hynix stated, "We were able to present the 12-layer HBM4E samples to our customers based on the HBM development capabilities and production know-how we have accumulated over time. We will work closely with our key clients to ensure timely mass production."
The company had also set a record closing price the previous day, driven by expectations of increased demand for AI semiconductors and optimism 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 assessments 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 was trading at 1,638,000 won, up 42,000 won (2.63%) from the previous trading day, after starting at 1,596,000 won and expanding its gains during the session.
* This article has been translated by AI.
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