On August 24, SK hynix fell 4.9% in regular trading, trading at $154.23/share, with turnover of $413 million. The decline was driven by broad semiconductor sector weakness compounded by multiple brokerage downgrades on the stock.

The semiconductor sector experienced significant selling pressure, with peers Micron Technology down 5.69%, Marvell Technology down 6.34%, Intel down 3.65%, and Advanced Micro Devices down 2.92%, dragging the memory chip leader lower. Multiple Korean brokerages slashed their target prices on SK hynix, with Mirae Asset Securities cutting from 4.2 million KRW to 2.8 million KRW and Shinhan Investment Securities from 4.2 million KRW to 2.7 million KRW, as concerns over a potential memory chip cycle peak continue to intensify. Additionally, after significant recent gains driven by the 40 trillion KRW buyback plan and Japan factory announcement, profit-taking pressure has emerged as prior catalysts are considered fully priced in.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)