Zacks Investment Research upgraded shares of MagnaChip Semiconductor Corporation (NYSE:MX) from a hold rating to a buy rating in a report issued on Tuesday morning. The firm currently has $12.00 target price on the semiconductor company’s stock.

According to Zacks, “MagnaChip Semiconductor Corporation operates as a designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications. The Company operates through three key segments: Display Solutions, Power Solutions and Semiconductor Manufacturing Services. Products offered by MagnaChip through its Display Solutions segment includes source and gate drivers and timing controllers that cover a wide range of flat panel displays used in LCD, light emitting diode, or LED, and 3D televisions and displays, mobile PCs and mobile communications and entertainment devices. The Power Solutions products include discrete and integrated circuit solutions for power management in high-volume consumer applications. Semiconductor Manufacturing Services segment provides specialty analog and mixed-signal foundry services for fabless semiconductor companies. MagnaChip Semiconductor Corporation is headquartered in Chungbuk, South Korea. “

Other research analysts also recently issued reports about the company. Citigroup Inc. raised their price objective on MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the stock a neutral rating in a report on Monday, August 7th. Needham & Company LLC restated a buy rating and set a $15.00 price objective on shares of MagnaChip Semiconductor Corporation in a report on Friday, September 8th. BidaskClub upgraded MagnaChip Semiconductor Corporation from a hold rating to a buy rating in a report on Friday, August 25th. TheStreet downgraded MagnaChip Semiconductor Corporation from a c- rating to a d rating in a report on Thursday, November 2nd. Finally, ValuEngine downgraded MagnaChip Semiconductor Corporation from a hold rating to a sell rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $12.67.

Shares of MagnaChip Semiconductor Corporation (NYSE:MX) traded up $0.20 during midday trading on Tuesday, hitting $11.60. The stock had a trading volume of 760,486 shares, compared to its average volume of 363,050. The company has a current ratio of 2.25, a quick ratio of 1.80 and a debt-to-equity ratio of -4.29. MagnaChip Semiconductor Corporation has a 12-month low of $5.25 and a 12-month high of $12.75.

ILLEGAL ACTIVITY WARNING: “MagnaChip Semiconductor Corporation (MX) Upgraded to Buy at Zacks Investment Research” was originally reported by Daily Political and is the property of of Daily Political. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright laws. The original version of this piece can be viewed at https://www.dailypolitical.com/2017/11/08/magnachip-semiconductor-corporation-mx-upgraded-to-buy-at-zacks-investment-research.html.

In related news, Director Camillo Martino bought 10,000 shares of the company’s stock in a transaction on Monday, August 14th. The shares were acquired at an average price of $10.25 per share, with a total value of $102,500.00. Following the transaction, the director now owns 31,916 shares of the company’s stock, valued at $327,139. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Tavakoli Nader bought 39,100 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $10.67 per share, for a total transaction of $417,197.00. Following the transaction, the director now directly owns 67,686 shares in the company, valued at approximately $722,209.62. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Menta Capital LLC boosted its position in MagnaChip Semiconductor Corporation by 97.6% during the 2nd quarter. Menta Capital LLC now owns 110,696 shares of the semiconductor company’s stock valued at $1,085,000 after acquiring an additional 54,679 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in MagnaChip Semiconductor Corporation by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 607,785 shares of the semiconductor company’s stock valued at $5,804,000 after acquiring an additional 34,253 shares in the last quarter. Columbus Circle Investors boosted its position in MagnaChip Semiconductor Corporation by 46.1% during the 2nd quarter. Columbus Circle Investors now owns 137,708 shares of the semiconductor company’s stock valued at $1,350,000 after acquiring an additional 43,445 shares in the last quarter. Rubric Capital Management LP boosted its position in MagnaChip Semiconductor Corporation by 13.2% during the 2nd quarter. Rubric Capital Management LP now owns 1,925,000 shares of the semiconductor company’s stock valued at $18,865,000 after acquiring an additional 225,000 shares in the last quarter. Finally, Hood River Capital Management LLC boosted its position in shares of MagnaChip Semiconductor Corporation by 24.0% in the 2nd quarter. Hood River Capital Management LLC now owns 1,570,550 shares of the semiconductor company’s stock worth $15,391,000 after purchasing an additional 303,818 shares in the last quarter. 94.11% of the stock is currently owned by institutional investors and hedge funds.

About MagnaChip Semiconductor Corporation

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.

Receive News & Ratings for MagnaChip Semiconductor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MagnaChip Semiconductor Corporation and related companies with MarketBeat.com's FREE daily email newsletter.