Magnachip Semiconductor Corp. (NYSE:MX) was up 1.8% on Wednesday . The stock traded as high as $5.73 and last traded at $5.70, with a volume of 169,029 shares trading hands. The stock had previously closed at $5.60.

Several equities research analysts have recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Magnachip Semiconductor Corp. in a research note on Sunday, May 8th. Topeka Capital Markets lifted their price objective 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.

The company has a 50 day moving average of $5.58 and a 200-day moving average of $5.03. The company’s market capitalization is $198.82 million.

An institutional investor recently raised its position in Magnachip Semiconductor Corp. stock. Cypress Funds LLC raised its stake in Magnachip Semiconductor Corp. (NYSE:MX) by 26.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 about 2.9% of Cypress Funds LLC’s portfolio, making the stock its 17th largest position. Cypress Funds LLC owned approximately 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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