Magnachip Semiconductor (NYSE:MX)‘s stock had its “buy” rating restated by equities researchers at Needham & Company LLC in a note issued to investors on Wednesday, January 17th. They presently have a $15.00 price objective on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 66.67% from the company’s previous close.
A number of other analysts also recently weighed in on MX. Zacks Investment Research downgraded shares of Magnachip Semiconductor from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. TheStreet downgraded shares of Magnachip Semiconductor from a “c-” rating to a “d” rating in a research report on Thursday, November 2nd. Finally, ValuEngine cut Magnachip Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $12.67.
Magnachip Semiconductor (NYSE:MX) traded down $0.85 on Wednesday, reaching $9.00. 2,442,700 shares of the company traded hands, compared to its average volume of 709,438. Magnachip Semiconductor has a 1-year low of $7.00 and a 1-year high of $13.40. The company has a debt-to-equity ratio of -4.96, a current ratio of 2.42 and a quick ratio of 1.96. The company has a market capitalization of $307.71, a PE ratio of 4.62 and a beta of -0.04.
In related news, major shareholder Brigade Leveraged Capital Stru sold 25,294 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $12.75, for a total value of $322,498.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Northern Trust Corp purchased a new stake in Magnachip Semiconductor in the 2nd quarter worth about $111,000. Tower Research Capital LLC TRC boosted its stake in Magnachip Semiconductor by 3,798.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,347 shares of the semiconductor company’s stock worth $143,000 after purchasing an additional 13,979 shares during the period. Goldman Sachs Group Inc. bought a new position in Magnachip Semiconductor in the 2nd quarter worth about $148,000. Citadel Advisors LLC boosted its stake in Magnachip Semiconductor by 66.9% in the 3rd quarter. Citadel Advisors LLC now owns 15,465 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 6,197 shares during the period. Finally, Dixon Hubard Feinour & Brown Inc. VA bought a new position in Magnachip Semiconductor in the 3rd quarter worth about $193,000. 90.65% of the stock is owned by hedge funds and other institutional investors.
WARNING: This report was published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this report on another domain, it was illegally copied and reposted in violation of U.S. and international copyright and trademark law. The legal version of this report can be read at https://stocknewstimes.com/2018/02/11/needham-company-llc-reaffirms-buy-rating-for-magnachip-semiconductor-mx.html.
About Magnachip Semiconductor
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.
Receive News & Ratings for Magnachip Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnachip Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.