Hynix just responded to its own stock slump with a hefty share buyback

SK Hynix plans to counter its own stock slide with a major buyback, authorizing repurchases of up to 24 million shares—about 3.3% of outstanding stock—between now and November 19, followed by cancellation. The company also said it will return more than 50% of cumulative free cash flow to shareholders through dividends and buybacks, instead of limiting payouts to that threshold. Management hinted at additional return announcements with third-quarter results in late October. The scale exceeds the $26 billion raised via ADR issuance, and the firm expects buyback timing to offset ADR-related dilution. At recent valuations, shares trade at under 5x expected 2026 earnings, with P/E ratios dropping to 3.6x in 2027 and 3.3x in 2028.