MagnaChip Semiconductor Corporation (NYSE:MX) had its target price increased by Citigroup Inc. from $10.50 to $11.00 in a research note released on Monday morning, Marketbeat reports. They currently have a neutral rating on the semiconductor company’s stock.

Several other research analysts also recently commented on the stock. TheStreet raised shares of MagnaChip Semiconductor Corporation from a d rating to a c- rating in a report on Thursday, May 4th. ValuEngine raised shares of MagnaChip Semiconductor Corporation from a sell rating to a hold rating in a report on Friday, June 2nd. BidaskClub raised shares of MagnaChip Semiconductor Corporation from a buy rating to a strong-buy rating in a report on Thursday, July 13th. Needham & Company LLC reissued a buy rating and set a $13.00 price objective (up previously from $10.00) on shares of MagnaChip Semiconductor Corporation in a report on Thursday, July 13th. Finally, Zacks Investment Research downgraded shares of MagnaChip Semiconductor Corporation from a buy rating to a hold rating in a report on Wednesday, July 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. MagnaChip Semiconductor Corporation presently has a consensus rating of Buy and a consensus price target of $10.81.

Shares of MagnaChip Semiconductor Corporation (NYSE:MX) traded up 1.68% during midday trading on Monday, reaching $12.10. The company’s stock had a trading volume of 140,521 shares. The company has a market cap of $410.02 million, a PE ratio of 69.94 and a beta of -0.29. MagnaChip Semiconductor Corporation has a 12 month low of $5.20 and a 12 month high of $12.15. The company’s 50-day moving average price is $10.25 and its 200-day moving average price is $8.90.

MagnaChip Semiconductor Corporation (NYSE:MX) last released its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.04 by $0.17. The company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $165 million. During the same period last year, the company earned ($0.05) EPS. The firm’s revenue for the quarter was down .2% on a year-over-year basis. On average, equities analysts anticipate that MagnaChip Semiconductor Corporation will post $0.74 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evermore Global Advisors LLC acquired a new position in shares of MagnaChip Semiconductor Corporation during the first quarter worth approximately $15,162,000. Hood River Capital Management LLC acquired a new position in shares of MagnaChip Semiconductor Corporation during the first quarter worth approximately $12,097,000. Morgan Stanley increased its position in shares of MagnaChip Semiconductor Corporation by 91.0% in the first quarter. Morgan Stanley now owns 916,194 shares of the semiconductor company’s stock worth $8,749,000 after buying an additional 436,509 shares during the last quarter. Driehaus Capital Management LLC acquired a new position in shares of MagnaChip Semiconductor Corporation during the first quarter worth approximately $3,504,000. Finally, Mckinley Capital Management LLC Delaware acquired a new position in shares of MagnaChip Semiconductor Corporation during the first quarter worth approximately $2,471,000. 91.88% of the stock is owned by institutional investors and hedge funds.

MagnaChip Semiconductor Corporation Company Profile

MagnaChip Semiconductor Corporation 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 provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.

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