Other research analysts have also issued reports about the company. Zacks Investment Research raised Magnachip Semiconductor from a hold rating to a buy rating and set a $10.00 target price for the company in a research report on Tuesday, April 30th. TheStreet lowered Magnachip Semiconductor from a c rating to a d+ rating in a research report on Friday, February 15th. Citigroup set a $9.00 price objective on Magnachip Semiconductor and gave the stock a hold rating in a research report on Thursday, May 2nd. Finally, Needham & Company LLC reissued a buy rating and issued a $10.00 price objective on shares of Magnachip Semiconductor in a research report on Thursday, January 24th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $10.50.
Shares of NYSE:MX opened at $7.95 on Monday. The firm has a market cap of $289.20 million, a P/E ratio of 11.20 and a beta of 0.58. Magnachip Semiconductor has a 12-month low of $5.75 and a 12-month high of $13.06.
Several hedge funds have recently bought and sold shares of the company. Toronado Partners LLC raised its position in shares of Magnachip Semiconductor by 39.7% in the 1st quarter. Toronado Partners LLC now owns 1,677,591 shares of the semiconductor company’s stock worth $12,414,000 after acquiring an additional 476,446 shares in the last quarter. Morgan Stanley raised its position in shares of Magnachip Semiconductor by 2.6% in the 1st quarter. Morgan Stanley now owns 1,644,555 shares of the semiconductor company’s stock worth $12,170,000 after acquiring an additional 41,530 shares in the last quarter. SEI Investments Co bought a new position in shares of Magnachip Semiconductor in the 1st quarter worth about $436,000. Federated Investors Inc. PA raised its position in shares of Magnachip Semiconductor by 34.8% in the 1st quarter. Federated Investors Inc. PA now owns 1,025,000 shares of the semiconductor company’s stock worth $7,585,000 after acquiring an additional 264,800 shares in the last quarter. Finally, Envestnet Asset Management Inc. bought a new position in shares of Magnachip Semiconductor in the 1st quarter worth about $173,000. 89.21% of the stock is owned by hedge funds and other institutional investors.
About Magnachip Semiconductor
MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.
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