Magnachip Semiconductor Corp. (MX) Sees Unusually-High Trading Volume
Magnachip Semiconductor Corp. (NYSE:MX) shares saw unusually-high trading volume on Monday . Approximately 220,323 shares changed hands during trading, an increase of 54% from the previous session’s volume of 143,495 shares.The stock last traded at $5.68 and had previously closed at $5.70.
A number of research analysts recently issued reports on MX shares. Topeka Capital Markets raised their target price on shares of Magnachip Semiconductor Corp. from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, May 6th. Needham & Company LLC reiterated a “hold” rating on shares of Magnachip Semiconductor Corp. in a research note on Sunday, May 8th.
The stock’s 50-day moving average price is $5.64 and its 200-day moving average price is $5.05. The stock’s market cap is $197.43 million.
A hedge fund recently raised its stake in Magnachip Semiconductor Corp. stock. Cypress Funds LLC boosted its position in shares of Magnachip Semiconductor Corp. (NYSE:MX) by 26.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 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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