SK Hynix May Add Another $130 Billion to Returns, JPMorgan Says
Yahoo Finance ·
SK Hynix May Add Another $130 Billion to Returns, JPMorgan Says Youkyung Lee Wed, August 19, 2026 at 10:47 PM EDT 2 min read JPM SKHY 005930.KS 005935.KS (Bloomberg) -- SK Hynix Inc. may follow up its new mega stock buyback with additional shareholder returns woth at least $130 billion through next year, according to JPMorgan Chase & Co. Bessent Deploys Debt Buybacks in Sign of Concern Over Yield Rise Natalie Harp, Trump's Gatekeeper, Is at Center of Senator Jon Ossoff Clash Moderna and Merck Revive mRNA Hopes With Melanoma Success PlayStation Reboots 'Horizon Hunters Gathering' as Live-Service Strategy Struggles US Set to Cut Tariffs on Canada Metals, Autos in Trade Deal The key takeaway from the 40 trillion won ($29 billion) share repurchase announced Wednesday was the South Korean memory chipmaker's decision to lift the ceiling on returns, analyst Jay Kwon, wrote in a note. SK Hynix is now pledging more than half of its cumulative free cash flow over 2025 to 2027, versus "up to 50%" previously. Kwon estimates that means "a minimum of 180 trillion won of additional shareholder return" through 2027, on top of the plans already announced. That's equal to 16% of the stock's current total market value, and should provide support after the recent selloff, according to the analyst. "We believe the worst is behind us and expect share price sentiment to improve gradually from a medium-term horizon and recommend investors to accumulate the stock," Kwon wrote. The buyback was unveiled sooner than the market expected, he added. The chipmaker's shares jumped as much as 13% Thursday on Korea Exchange after announcement of the plan to buy back and retire as many as 24 million shares. The company said it will be the largest stock cancellation ever among South Korea's listed companies. The bounce in SK Hynix helped boost the benchmark Kospi, with shares of key rival Samsung Electronics Co. climbing as much as 10%. Samsung plans to finalize and announce a shareholder return program exceeding 100 trillion won after a board meeting this month, MoneyToday reported, citing unidentified industry officials. Hopes for additional payouts may help renew the rally in Korea's memory stocks, which had dropped lately on concerns over the sustainability of AI spending among its Big Tech customers as well as the threat of Chinese competition. SK Hynix shares are still down more than 40% from their June record high. The Diamond Industry's Old Guard Wants You to Buy 'Natural' The Midwest City Keeping the American Dream Alive for First-Time Homebuyers China's Chip Industry Is Having a Breakout Moment Big Pharma Is Hooked on Chinese Licensing Deals
AI 시장 분석
JP모건은 SK하이닉스가 2027년까지 최소 1,300억 달러 규모의 추가 주주환원을 단행할 것으로 전망했다. 이번 40조 원 규모의 자사주 매입 발표는 주가 하락 방어와 함께 메모리 반도체 투자 심리를 자극했다. 이로 인해 SK하이닉스 주가는 13% 급등했고 코스피 지수 상승을 견인했다.
상승 영향
- 반도체 — SK하이닉스가 40조 원 규모의 대규모 자사주 매입 및 소각을 발표하고 향후 1,300억 달러 이상의 추가 주주환원을 예고하면서 메모리 반도체 섹터 전반의 투자 심리가 크게 개선되었다.
DYAX 전담 분석
SK하이닉스가 2025~2027년 누적 잉여현금흐름의 50% 이상을 주주환원에 투입하기로 하면서 시장 기대치를 크게 상회했다. 이는 삼성전자 등 국내 반도체 섹터 전반의 주주환원 확대 기대감으로 이어져 수급 개선에 기여하고 있다.
향후 AI 수요 지속성 및 중국 경쟁 리스크가 해소될 경우 추가적인 밸류에이션 리레이팅이 가능하나, 거시경제 악화 시 주가 변동성이 확대될 수 있어 잉여현금흐름 추이를 면밀히 모니터링해야 한다.
AI가 생성한 분석으로 투자 자문이 아닙니다.
DYAX Investor Sentiment
Bullish (Long) 60% · Bearish (Short) 40%
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