Shares of Magnachip Semiconductor Corp. (NYSE:MX) saw strong trading volume on Friday . 116,866 shares changed hands during mid-day trading, an increase of 8% from the previous session’s volume of 108,069 shares.The stock last traded at $5.63 and had previously closed at $5.59.

Several equities analysts have recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Magnachip Semiconductor Corp. in a research report on Sunday, May 8th. Topeka Capital Markets increased their price objective on shares of Magnachip Semiconductor Corp. from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, May 6th.

The company has a 50-day moving average price of $5.55 and a 200-day moving average price of $5.03. The firm’s market cap is $193.96 million.

A hedge fund recently raised its stake in Magnachip Semiconductor Corp. stock. Cypress Funds LLC boosted its position in Magnachip Semiconductor Corp. (NYSE:MX) by 26.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,161,111 shares of the company’s stock after buying an additional 451,111 shares during the period. Magnachip Semiconductor Corp. comprises about 2.9% of Cypress Funds LLC’s portfolio, making the stock its 17th largest position. Cypress Funds LLC owned 6.25% of Magnachip Semiconductor Corp. worth $11,432,000 as of its most recent filing with the SEC.

MagnaChip Semiconductor Corporation is a holding company, which 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 operates through three business lines: Display Solutions, Power Solutions and Semiconductor Manufacturing Services.

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