South Korean memory giant SK hynix (SKHY) recently announced it will buy back $29 billion of its stock over the next three months, starting Aug. 20. The company’s robust capital return program also plans to return more than 50% of its free cash flow to shareholders. Wedbush analysts believe this move is a “positive” step that could help it close the valuation gap with its peers. Moreover, SK hynix could deliver an additional $130 billion in shareholder returns by 2027, supported by the continued rise in memory-chip prices.
This is good news for SKHY stockholders. Now we take a closer look at the company…