LightView AI Stock Analysis Summary
Issued 2026.11.12 (Thu) · As of Nov 11, 2026 close · 1/2SK hynix SK hynix Inc. · 000660 · KOSPI
After the KOSPI fell 6.02% on Nov 6 and pushed the stock to a ₩1,132,000 close, two straight rebound days lifted it back to ₩1,277,000, still 57.2% below the 52-week high, with forward P/E at 2.5x
Overall VerdictHOLDBull 4 · Bear 3 · Deferred 0
Price at Issue
₩1,277,000
Nov 11, 2026 close · +5.4%
External Target Price
0 items
No firm has issued a target price
52-Week Low · High
₩501,000 ~ ₩2,987,000
vs. high −57.2%
Next Earnings
~Jan 27 (Yahoo est.)
Q4 2026 earnings
014 Key Data Points
Nov 6: KOSPI −6.02%, foreigners net sold ₩2.8TOn the day a circuit breaker and a sell sidecar were triggered, the stock fell 10.44% to ₩1,132,000 on 7.9M shares, 1.97x the 20-day average
U.S. data-center regulation worries; Philadelphia semiconductor index down 12%Sen. Sanders' call to halt data-center construction and a sharp U.S. chip-index drop hit the Korean market on Nov 6; no concrete legislation exists yet
Q3 operating income ₩83.3T, 80% marginPreliminary Oct 28 revenue of ₩104.6T topped ₩100T for the first time, and operating income rose 38% from Q2's ₩60.5T and 632% year over year
₩20,000 per-share dividend, extra ₩20T buybackThe Q3 dividend of about ₩14T (record date Nov 30) plus the ₩20T buyback equals 3.7% of the ~₩908T market cap
02Research Team Debate — 6 Issues
| KOSPI −6% on Nov 6: is it only SK hynix's problem?×2 | Bull | The issue is whether the cause lies with the company, and with the KOSPI −6.02% and Samsung Electronics −6.30% falling together, the call goes to Bull because the cause is market-wide. Bear's volatility point is a risk but not evidence of damaged company value. |
| U.S. data-center regulation worries: do they shake the memory demand premise? | Bear | The issue is whether regulation worries shake the demand premise, and while contracts protect the floor, the call goes to Bear because the lack of concrete rules leaves uncertainty unresolved. It will be reassessed when the outline of any legislation appears. |
| Shareholder returns: will a ₩20T buyback and a ₩20,000 dividend support the floor? | Bull | The issue is whether returns support the price floor, and the call goes to Bull because even the regular ₩10,000 dividend alone implies a payout capacity in the tens of trillions, backed by ₩98.7T of net cash. Execution pace must be checked in filings. |
| Forward P/E 2.5x: cheap, or a sign that earnings have peaked? | Bull | The issue is whether the low multiple is justified, and the call goes to Bull because operating income grew 38% and expected EPS growth is 49.0%, making the multiple low relative to growth. The net income drop stems from FX and valuation losses, separate from operating results. |
| Second rebound day: can a low-volume rise be trusted? | Bear | The issue is whether the rebound reflects returning flows, and the call goes to Bear because a rebound on below-average volume is too early to trust. It will be reassessed if volume exceeds the average while the stock holds the 20-day line at ₩1,308,100. |
| Price trend: would regaining the 20-day line signal a bottom? | Bear | The issue is whether the price trend has bottomed, and the call goes to Bear because the 20-, 60- and 200-day lines are all overhead with no sign of a trend reversal. A close above the 20-day line would be the first confirmation. |
The overall call is HOLD: earnings, shareholder returns and a low multiple favor Bull, while regulation worries, a low-volume rebound and a broken price trend favor Bear, and the call reopens with the mid-November Q3 quarterly report and concrete U.S. rules.
03Conditions That Change the Verdict
▲ Upgrade Conditions
- Mid-November quarterly reportPositive if operating cash flow holds near Q2's ₩65.4T and the ₩32.6T of non-operating losses prove one-off.
- Price defense lineA close above the 20-day line at ₩1,308,100 with volume above the 4.0M-share 20-day average would give the rebound strength.
- Concrete U.S. rulesIf data-center regulation settles at a pacing measure without a construction halt, demand-premise worries ease.
▼ Downgrade Conditions
- Tighter U.S. regulationIf a construction halt becomes legislation, the Philadelphia semiconductor index could fall again and memory selling would return.
- Break of the 5-day lineA close below the 5-day line at ₩1,204,200 would mean the rebound has broken, with the lower Bollinger band at ₩1,093,981 as next support.
- Foreign selling resumesIf foreign net selling on the KOSPI returns toward the ₩2.8T of Nov 6, it signals further declines.
LightView AI Stock Analysis Summary
Issued 2026.11.12 (Thu) · As of Nov 11, 2026 close · 2/204Quarterly Results Unit: ₩T
| Q2 2025 | Q3 | Q4 | Q1 2026 | Q2 |
|---|
| Revenue | 22.2 | 24.4 | 32.8 | 52.6 | 79.3 |
| Operating Income | 9.2 | 11.4 | 19.2 | 37.6 | 60.5 |
| Net Income | 7 | 12.6 | 15.2 | 40.3 | 93.8 |
| Operating Margin | 41.4% | 46.6% | 58.4% | 71.5% | 76.3% |
Operating margin76.3%Year ago 41.4%
Gross margin (Yahoo basis)83.2%Year ago 53.9%
Operating cash flow margin82.5%Year ago 41.2%
Free cash flow margin68.4%Year ago 20.4%
06동종 비교(외부 목표가 0건)
| Company | P/S | Market Cap |
|---|
| SK hynix 000660 | 4.8x | ~₩908T |
| Samsung Electronics 005930 | 2.5x | ~₩1,193.3T |
| Samsung Electro-Mechanics 009150 | 5.4x | ~₩67.1T |
| Hanmi Semiconductor 042700 | 31.7x | ~₩17.5T |
| DB HiTek 000990 | 2.7x | ~₩4.1T |
07Financial Strength
Cash and short-term investments (Jun 30)₩88T₩17.1T → +415.0%
Total debt (Jun 30, Yahoo basis)₩21.1T₩24.4T → −13.4%
Equity (Jun 30)₩262.4T₩87.1T → +201.1%
Shares outstanding (Jun 30)711M690M → +3.0%
08Recent News
- 11/11 Second straight rebound day, close ₩1,277,000+6.69% on Nov 10, then +5.36% · up 12.8% from the Nov 6 low of ₩1,132,000 · volume of 3.44M shares was 0.86x the 20-day average
- 11/6 KOSPI −6.02% with circuit breaker and sell sidecarKOSPI closed at 5,059.69 · foreigners net sold ₩2.8T · U.S. data-center regulation worries and a 12%-plus drop in the Philadelphia semiconductor index
- 11/5 SK hynix −9.46%, second straight dropDown 17.2% in five sessions from the Oct 29 close of ₩1,526,000 · volume of 4.28M shares near the 20-day average
09Upcoming Events
- Mid-November · Q3 2026 quarterly report dueConfirms operating cash flow, capex and EPS · not a company-confirmed date
- Nov 30 · Q3 dividend record date (₩20,000 per share)₩10,000 regular plus ₩10,000 special from Kioxia investment gains · total dividend about ₩14T
- ~Jan 27 · Q4 2026 earnings, expected (Yahoo est.)Expected revenue ₩131.5T · expected EPS ₩120,252 · not a company-confirmed date
10Key Risks
- Tighter U.S. data-center regulation (construction halt call)Impact High · Likelihood High · Watch Concrete rules and the Philadelphia semiconductor index
- Resumed foreign selling (₩2.8T on Nov 6)Impact High · Likelihood Medium · Watch Foreign net trading on the KOSPI
- Larger non-operating losses (₩32.6T in Q3)Impact Medium · Likelihood Medium · Watch Notes in the mid-November quarterly report
11Checkpoints
- ★★★ Mid-November quarterly reportCheck operating cash flow, capex and the non-operating loss detail, and whether Q2's ₩65.4T operating cash flow level holds.
- ★★★ 20-day line at ₩1,308,100Check for a close above it and whether volume exceeds the 4.0M-share 20-day average.
- ★★★ U.S. data-center regulationCheck whether concrete legislation or a construction halt emerges.