Magnachip Semiconductor Corp. (NYSE:MX) shares traded down 1.7% during trading on Thursday . The stock traded as low as $5.57 and last traded at $5.63, with a volume of 79,662 shares traded. The stock had previously closed at $5.73.

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

The stock has a 50 day moving average of $5.60 and a 200-day moving average of $5.04. The stock’s market cap is $198.13 million.

An institutional investor recently raised its position in Magnachip Semiconductor Corp. stock. Cypress Funds LLC increased its position in shares of Magnachip Semiconductor Corp. (NYSE:MX) by 26.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm 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 holdings, making the stock its 17th largest position. Cypress Funds LLC owned about 6.25% of Magnachip Semiconductor Corp. worth $11,432,000 as of its most recent SEC filing.

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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