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.
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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.
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