Magnachip Semiconductor Corp. (MX) Trading Up 1.8%
Magnachip Semiconductor Corp. (NYSE:MX)’s share price was up 1.8% during trading on Wednesday . The company traded as high as $5.73 and last traded at $5.70, with a volume of 169,029 shares. The stock had previously closed at $5.60.
A number of equities analysts have commented on MX shares. Topeka Capital Markets boosted their price target on shares of Magnachip Semiconductor Corp. from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, May 6th. Needham & Company LLC reissued a “hold” rating on shares of Magnachip Semiconductor Corp. in a research note on Sunday, May 8th.
The company has a 50-day moving average price of $5.62 and a 200-day moving average price of $5.04. The company’s market capitalization is $194.66 million.
An institutional investor recently raised its position in Magnachip Semiconductor Corp. stock. Cypress Funds LLC boosted its position in Magnachip Semiconductor Corp. (NYSE:MX) by 26.4% during the fourth quarter, according to its most recent 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. accounts for about 2.9% of Cypress Funds LLC’s investment portfolio, making the stock its 17th largest position. Cypress Funds LLC owned about 6.25% of Magnachip Semiconductor Corp. worth $11,432,000 at the end of the most recent reporting period.
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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