Mirae Asset Securities Cuts SK Hynix Target Price 33% to 280 Million Won Amid China Exposure Equipment Concerns

SK Hynix-11.74%
NVDA0.99%
TSM-1.73%
MU-8.91%
According to Mirae Asset Securities on July 29, the firm cut its SK Hynix target price by 33% to 280 million won from 420 million won, citing unavoidable headwinds from China's homegrown photolithography equipment development. The brokerage maintained a "buy" rating despite the adjustment. Researcher Kim Young-gun noted that while the NAND contract price volatility has stabilized, China's equipment localization issue will weigh on the semiconductor sector broadly, necessitating the target price revision. SK Hynix reported second-quarter operating profit margin of 76.3%, surpassing Nvidia (65.6%) and TSMC (60.3%), ranking second globally behind Micron's 80.4%.
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