SK Hynix stock gains as Goldman Sachs targets 3.5 million won

Published on 09/23/2026 at 12:58 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

SK Hynix stock closed at 1.862 million won on September 23, 2026, up 1.2 percent. Q2 revenue rose 257 percent year over year to 79.32 trillion won.

SK Hynix, KR7000660001, Illustration mit AI erstellt.

SK Hynix stock closed at KRW 1,862,000 on the Korea Exchange on September 23, 2026, up 1.20 percent from the previous session. The move followed a Goldman Sachs report dated September 22, 2026, that reiterated a Buy rating and set a 12-month target price of KRW 3,500,000.

Goldman sees higher HBM pricing

According to TechFlow on September 23, 2026, Goldman Sachs based its target on a 9x forward price-to-earnings multiple averaged across 2026 and 2027 earnings. The report projects earnings per share of KRW 399,504 for 2026 and KRW 491,918 for 2027, implying a 23.1 percent increase between the two forecasts.

The same TechFlow report said Goldman expects HBM4 revenue share to increase, while long-term agreements provide demand visibility. The key sensitivity is pricing: the analysis expects HBM average selling prices and profit margins to rise in the second half of 2026 compared with the first half.

Q2 revenue reached 79.32 trillion won

SK Hynix reported second-quarter 2026 revenue of KRW 79.32 trillion, up 257 percent year over year and 51 percent sequentially, while operating profit surged 557 percent to KRW 60.54 trillion. The figures were reported by Stocktwits on September 22, 2026.

The operating margin was 76.3 percent in the second quarter of 2026, according to Global Economic on September 23, 2026. Revenue growth therefore came with a large expansion in profitability, although the reported revenue of KRW 79.32 trillion was below the KRW 84 trillion analyst estimate cited by Stocktwits.

Stock closed below the intraday high

SK Hynix reached KRW 1,900,000 shortly after the September 23, 2026 open, a 3.26 percent gain, before closing at KRW 1,862,000. SBS News reported that foreign investors net sold KRW 1.2027 trillion of SK Hynix shares on the session.

The next estimated earnings date is October 27, 2026, according to Yahoo Finance data dated September 23, 2026.

SK Hynix stock holds a high valuation bar

SK Hynix stock closed at KRW 1,862,000 on September 23, 2026, at the primary Korea Exchange listing. The session's 1.20 percent gain followed a move from the intraday high of KRW 1,900,000, leaving Goldman Sachs' KRW 3,500,000 target dependent on sustained HBM pricing, long-term contract coverage and delivery of the projected 2026 and 2027 earnings growth.