Brokerages Set Magnachip Semiconductor Corp (MX) PT at $10.80
Shares of Magnachip Semiconductor Corp (NYSE:MX) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $10.41.
Several equities analysts have recently issued reports on MX shares. Zacks Investment Research upgraded Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $7.25 target price for the company in a research report on Tuesday, January 15th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Magnachip Semiconductor in a research report on Thursday, January 24th. Finally, TheStreet lowered Magnachip Semiconductor from a “c” rating to a “d+” rating in a research report on Friday, February 15th.
Magnachip Semiconductor stock opened at $8.36 on Tuesday. The stock has a market cap of $281.24 million, a PE ratio of 11.77 and a beta of 0.50. Magnachip Semiconductor has a 1 year low of $5.75 and a 1 year high of $13.06.
Several institutional investors and hedge funds have recently modified their holdings of MX. Evermore Global Advisors LLC lifted its stake in Magnachip Semiconductor by 0.7% in the 4th quarter. Evermore Global Advisors LLC now owns 3,238,956 shares of the semiconductor company’s stock valued at $20,114,000 after acquiring an additional 22,200 shares in the last quarter. Morgan Stanley lifted its stake in Magnachip Semiconductor by 8.6% in the 3rd quarter. Morgan Stanley now owns 1,580,730 shares of the semiconductor company’s stock valued at $15,649,000 after acquiring an additional 125,488 shares in the last quarter. Toronado Partners LLC bought a new stake in Magnachip Semiconductor in the 4th quarter valued at approximately $7,459,000. Point72 Asset Management L.P. lifted its stake in Magnachip Semiconductor by 5.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 538,300 shares of the semiconductor company’s stock valued at $5,329,000 after acquiring an additional 29,300 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Magnachip Semiconductor by 26.6% in the 4th quarter. Millennium Management LLC now owns 511,951 shares of the semiconductor company’s stock valued at $3,179,000 after acquiring an additional 107,725 shares in the last quarter. Institutional investors and hedge funds own 89.32% of the company’s stock.
Magnachip Semiconductor Company Profile
MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.
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