MagnaChip Semiconductor Corporation (MX) Stock Price Up 7%

MagnaChip Semiconductor Corporation (NYSE:MX)’s share price rose 7% during mid-day trading on Tuesday . The company traded as high as $13.10 and last traded at $13.00. Approximately 900,200 shares were traded during trading, an increase of 97% from the average daily volume of 457,737 shares. The stock had previously closed at $12.15.

A number of equities analysts have recently weighed in on MX shares. BidaskClub downgraded MagnaChip Semiconductor Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price (up previously from $13.00) on shares of MagnaChip Semiconductor Corporation in a research note on Friday, August 4th. Citigroup Inc. boosted their target price on MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, August 7th. Zacks Investment Research upgraded MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Thursday, August 10th. Finally, ValuEngine downgraded MagnaChip Semiconductor Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $12.67.

The company has a quick ratio of 1.96, a current ratio of 2.42 and a debt-to-equity ratio of -4.96.

Institutional investors have recently bought and sold shares of the stock. Northern Trust Corp purchased a new position in MagnaChip Semiconductor Corporation in the second quarter valued at approximately $111,000. Goldman Sachs Group Inc. purchased a new position in MagnaChip Semiconductor Corporation in the second quarter valued at approximately $148,000. Citadel Advisors LLC lifted its stake in MagnaChip Semiconductor Corporation by 66.9% in the third quarter. Citadel Advisors LLC now owns 15,465 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 6,197 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA purchased a new position in MagnaChip Semiconductor Corporation in the third quarter valued at approximately $193,000. Finally, State Street Corp lifted its stake in MagnaChip Semiconductor Corporation by 1.5% in the second quarter. State Street Corp now owns 40,222 shares of the semiconductor company’s stock valued at $394,000 after purchasing an additional 606 shares during the last quarter. Institutional investors and hedge funds own 95.55% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “MagnaChip Semiconductor Corporation (MX) Stock Price Up 7%” was first posted by Transcript Daily and is owned by of Transcript Daily. If you are viewing this article on another website, it was copied illegally and reposted in violation of United States and international copyright laws. The correct version of this article can be accessed at https://transcriptdaily.com/2017/11/14/magnachip-semiconductor-corporation-mx-stock-price-up-7.html.

MagnaChip Semiconductor Corporation Company Profile

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.

Leave a Reply