Magnachip Semiconductor (NYSE:MX) Stock Rating Upgraded by StockNews.com

Magnachip Semiconductor (NYSE:MX) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Other analysts have also issued reports about the stock. Roth Mkm reduced their price target on shares of Magnachip Semiconductor from $15.00 to $10.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Needham & Company LLC reissued a “buy” rating and set a $13.00 target price on shares of Magnachip Semiconductor in a research note on Thursday, August 10th. Finally, TheStreet lowered shares of Magnachip Semiconductor from a “c-” rating to a “d+” rating in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.33.

Magnachip Semiconductor Stock Down 0.9 %

Magnachip Semiconductor stock opened at $6.86 on Friday. The firm has a 50-day moving average price of $7.81 and a two-hundred day moving average price of $8.95. The firm has a market capitalization of $276.18 million, a price-to-earnings ratio of -10.72 and a beta of 0.89. Magnachip Semiconductor has a 52-week low of $6.82 and a 52-week high of $11.68.

Insider Activity

In other news, insider Young-Joon Kim purchased 10,888 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average price of $8.36 per share, for a total transaction of $91,023.68. Following the completion of the acquisition, the insider now directly owns 533,159 shares of the company’s stock, valued at $4,457,209.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Gilbert E. Nathan acquired 10,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average price of $8.39 per share, for a total transaction of $83,900.00. Following the purchase, the director now owns 68,200 shares in the company, valued at $572,198. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Young-Joon Kim acquired 10,888 shares of the company’s stock in a transaction on Monday, August 14th. The stock was bought at an average price of $8.36 per share, for a total transaction of $91,023.68. Following the purchase, the insider now owns 533,159 shares in the company, valued at approximately $4,457,209.24. The disclosure for this purchase can be found here. 4.50% of the stock is owned by company insiders.

Institutional Trading of Magnachip Semiconductor

Large investors have recently modified their holdings of the company. Polunin Capital Partners Ltd boosted its holdings in shares of Magnachip Semiconductor by 2.9% during the 2nd quarter. Polunin Capital Partners Ltd now owns 217,812 shares of the semiconductor company’s stock worth $2,435,000 after buying an additional 6,100 shares during the period. Systematic Financial Management LP boosted its holdings in Magnachip Semiconductor by 1.7% in the 1st quarter. Systematic Financial Management LP now owns 2,225,693 shares of the semiconductor company’s stock valued at $20,654,000 after purchasing an additional 38,241 shares during the period. S Squared Technology LLC boosted its holdings in Magnachip Semiconductor by 1.5% in the 1st quarter. S Squared Technology LLC now owns 673,620 shares of the semiconductor company’s stock valued at $6,251,000 after purchasing an additional 10,000 shares during the period. Citizens Financial Group Inc RI bought a new stake in Magnachip Semiconductor in the 1st quarter valued at $148,000. Finally, Trexquant Investment LP boosted its holdings in Magnachip Semiconductor by 245.2% in the 2nd quarter. Trexquant Investment LP now owns 57,996 shares of the semiconductor company’s stock valued at $648,000 after purchasing an additional 41,195 shares during the period. 73.53% of the stock is owned by institutional investors.

About Magnachip Semiconductor

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, notebook PCs, monitors and liquid crystal displays, and micro light-emitting diode (LED) televisions.