Magnachip Semiconductor Corp. (MX) Sees Strong Trading Volume
Magnachip Semiconductor Corp. (NYSE:MX) saw unusually-high trading volume on Friday . Approximately 116,866 shares were traded 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.
MX has been the topic of several analyst reports. Topeka Capital Markets lifted their target price on shares of Magnachip Semiconductor Corp. from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, May 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Magnachip Semiconductor Corp. in a report on Sunday, May 8th.
The stock’s market cap is $193.96 million. The firm’s 50 day moving average is $5.55 and its 200 day moving average is $5.03.
A hedge fund recently raised its stake in Magnachip Semiconductor Corp. stock. Cypress Funds LLC increased its stake in shares of 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. makes up approximately 2.9% of Cypress Funds LLC’s holdings, making the stock its 17th largest position. Cypress Funds LLC owned approximately 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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