Magnachip Semiconductor (NYSE:MX) Upgraded to “Hold” at Wall Street Zen

Magnachip Semiconductor (NYSE:MX) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.

Separately, Needham & Company LLC dropped their price target on Magnachip Semiconductor from $6.00 to $5.50 and set a “buy” rating on the stock in a research report on Friday, August 1st. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $5.50.

Magnachip Semiconductor Stock Performance

Shares of NYSE MX opened at $3.10 on Friday. The company has a current ratio of 4.65, a quick ratio of 3.77 and a debt-to-equity ratio of 0.14. The stock’s 50-day moving average is $3.38 and its 200 day moving average is $3.54. The stock has a market cap of $111.17 million, a price-to-earnings ratio of -3.33 and a beta of 0.82. Magnachip Semiconductor has a 1-year low of $2.51 and a 1-year high of $5.16.

Insiders Place Their Bets

In other Magnachip Semiconductor news, insider Shin Young Park acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 25th. The stock was purchased at an average price of $2.87 per share, with a total value of $28,700.00. Following the completion of the purchase, the insider directly owned 251,786 shares in the company, valued at approximately $722,625.82. The trade was a 4.14% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Camillo Martino purchased 30,000 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average cost of $2.84 per share, with a total value of $85,200.00. Following the completion of the purchase, the insider owned 259,127 shares of the company’s stock, valued at $735,920.68. The trade was a 13.09% increase in their position. The disclosure for this purchase can be found here. 5.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Magnachip Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Immersion Corp raised its holdings in shares of Magnachip Semiconductor by 8.2% in the second quarter. Immersion Corp now owns 3,213,966 shares of the semiconductor company’s stock worth $12,792,000 after buying an additional 243,827 shares during the period. Systematic Financial Management LP raised its stake in shares of Magnachip Semiconductor by 1.7% during the 2nd quarter. Systematic Financial Management LP now owns 1,941,856 shares of the semiconductor company’s stock valued at $7,729,000 after buying an additional 32,707 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Magnachip Semiconductor by 112.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,458,280 shares of the semiconductor company’s stock valued at $5,862,000 after purchasing an additional 772,085 shares in the last quarter. Marshall Wace LLP boosted its holdings in Magnachip Semiconductor by 70.3% in the 2nd quarter. Marshall Wace LLP now owns 699,525 shares of the semiconductor company’s stock worth $2,784,000 after buying an additional 288,664 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Magnachip Semiconductor by 20.5% during the 4th quarter. Millennium Management LLC now owns 589,984 shares of the semiconductor company’s stock worth $2,372,000 after purchasing an additional 100,464 shares during the last quarter. 74.26% of the stock is currently owned by hedge funds and other 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.