---
title: "CLSA: Clearer Shareholder Return Outlook for SK Hynix (000660.KS); High Conviction Outperform Rating Maintained"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/295350212.md"
description: "CLSA maintains a High Conviction Outperform rating on SK Hynix, citing clearer shareholder return outlook. Following investor dissatisfaction over capital allocation guidance, SK Hynix announced it will disclose details by Q3 2026. CLSA projects shareholder returns could exceed KRW100 trillion in 2026 due to strong profitability and FCF, potentially driving share price re-rating. Despite market concerns over HBM4 pricing negotiations with NVIDIA, CLSA believes SK Hynix's lower cost structure allows for superior gross margins even with modest ASP hikes."
datetime: "2026-08-10T02:44:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/295350212.md)
  - [en](https://longbridge.com/en/news/295350212.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/295350212.md)
---

# CLSA: Clearer Shareholder Return Outlook for SK Hynix (000660.KS); High Conviction Outperform Rating Maintained

After last Friday's market close, SK Hynix (000660.KS) announced that it is actively reviewing measures to enhance shareholder value and will disclose further details within 3Q26, CLSA said in a report.

The move came after investors expressed dissatisfaction over the lack of clear capital allocation guidance during its 2Q26 earnings conference call, which likely contributed to the recent weakness in the share price.

Given the company's very strong profitability and FCF through 2028, the broker believed shareholder returns in 2026 could exceed KRW100 trillion, notably enhancing shareholder value and potentially serving as a catalyst for share price re-rating.

It maintained its High Conviction Outperform rating with a TP of KRW3.7 million on SK Hynix.

The market has recently expressed concerns over HBM4 pricing negotiations between SK Hynix and NVIDIA Corporation (NVDA.US) , believing that the ASP hike may be smaller than that of peers.

According to SK Hynix, as the core and base dies are produced using mature process technologies, its HBM4 cost structure is markedly lower than peers. Therefore, even with lower pricing, CLSA believed SK Hynix may still deliver gross margins superior to peers.  
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