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International Business Times
International Business Times
Business

SK Hynix Shares Surge After Announcing a Massive $28.7 Billion Stock Buyback

SK Hynix Peter Lee Memory
The company said it is speeding up its 40 trillion won, or roughly $28.7 billion, share repurchase and cancellation program while targeting a significant increase in shareholder returns. (Credit: Getty Images)

Shares of SK Hynix surged more than 12% in Seoul on Thursday after the South Korean chipmaker announced plans to accelerate a massive stock buyback, giving investors another reason to pile back into semiconductor stocks after several volatile trading sessions.

The company said it is speeding up its 40 trillion won, or roughly $28.7 billion, share repurchase and cancellation program while targeting a significant increase in shareholder returns. SK Hynix said it plans to return more than 50% of the cumulative free cash flow it generates between 2025 and 2027.

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