MagnaChip Semiconductor Corporation (MX) Rating Lowered to Buy at BidaskClub

MagnaChip Semiconductor Corporation (NYSE:MX) was downgraded by research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Friday.

A number of other research firms also recently commented on MX. Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price objective (up previously from $10.00) on shares of MagnaChip Semiconductor Corporation in a report on Thursday, July 13th. Zacks Investment Research downgraded MagnaChip Semiconductor Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. TheStreet upgraded MagnaChip Semiconductor Corporation from a “d” rating to a “c-” rating in a report on Thursday, May 4th. Citigroup Inc. started coverage on MagnaChip Semiconductor Corporation in a report on Wednesday, May 10th. They issued a “neutral” rating and a $10.50 price objective for the company. Finally, ValuEngine upgraded MagnaChip Semiconductor Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $10.69.

Shares of MagnaChip Semiconductor Corporation (MX) traded up 1.79% during trading on Friday, reaching $11.35. The company had a trading volume of 167,788 shares. The firm’s market capitalization is $385.40 million. MagnaChip Semiconductor Corporation has a 52-week low of $5.20 and a 52-week high of $11.88. The company has a 50 day moving average of $10.16 and a 200-day moving average of $8.81.

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In other MagnaChip Semiconductor Corporation news, insider Young-Joon Kim sold 11,800 shares of the stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $8.90, for a total value of $105,020.00. Following the completion of the sale, the insider now directly owns 59,075 shares in the company, valued at $525,767.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its stake in shares of MagnaChip Semiconductor Corporation by 713.9% in the fourth quarter. Renaissance Technologies LLC now owns 228,131 shares of the semiconductor company’s stock valued at $1,414,000 after buying an additional 200,100 shares during the period. Mckinley Capital Management LLC Delaware acquired a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter valued at about $2,471,000. Evermore Global Advisors LLC acquired a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter valued at about $15,162,000. Menta Capital LLC acquired a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter valued at about $535,000. Finally, TFS Capital LLC acquired a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter valued at about $713,000. Institutional investors own 93.00% of the company’s stock.

About MagnaChip Semiconductor Corporation

MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.