Needham & Company LLC Reaffirms Buy Rating for Magnachip Semiconductor (NYSE:MX)

Magnachip Semiconductor (NYSE:MX)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday,Benzinga reports. They presently have a $6.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price target points to a potential upside of 65.29% from the company’s current price.

Separately, StockNews.com upgraded Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research note on Thursday, March 13th.

Magnachip Semiconductor Stock Performance

MX stock opened at $3.63 on Tuesday. The company has a market cap of $130.91 million, a P/E ratio of -3.13 and a beta of 0.77. Magnachip Semiconductor has a 1 year low of $2.51 and a 1 year high of $5.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.81 and a quick ratio of 4.09. The stock’s fifty day moving average price is $3.31 and its 200-day moving average price is $3.88.

Hedge Funds Weigh In On Magnachip Semiconductor

Institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC raised its holdings in Magnachip Semiconductor by 5.2% in the 4th quarter. Empowered Funds LLC now owns 112,297 shares of the semiconductor company’s stock worth $451,000 after purchasing an additional 5,588 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Magnachip Semiconductor by 61.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 165,552 shares of the semiconductor company’s stock worth $666,000 after purchasing an additional 63,175 shares during the period. XTX Topco Ltd bought a new position in Magnachip Semiconductor in the 4th quarter worth $145,000. Hsbc Holdings PLC bought a new position in Magnachip Semiconductor in the 4th quarter worth $47,000. Finally, Renaissance Technologies LLC raised its holdings in Magnachip Semiconductor by 23.0% in the 4th quarter. Renaissance Technologies LLC now owns 237,900 shares of the semiconductor company’s stock worth $956,000 after purchasing an additional 44,546 shares during the period. 74.26% 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, computing, 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, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.