Magnachip Semiconductor (NYSE:MX) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.
A number of other brokerages also recently weighed in on MX. TheStreet downgraded shares of Magnachip Semiconductor from a “c” rating to a “d+” rating in a report on Friday, February 15th. Zacks Investment Research raised shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a report on Tuesday, April 30th. Finally, Citigroup set a $9.00 price target on shares of Magnachip Semiconductor and gave the company a “hold” rating in a report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Magnachip Semiconductor currently has an average rating of “Buy” and a consensus price target of $10.50.
MX stock traded up $1.07 during trading on Wednesday, hitting $9.90. The company had a trading volume of 1,586,400 shares, compared to its average volume of 305,747. The company has a market capitalization of $345.66 million, a P/E ratio of 13.94 and a beta of 0.66. Magnachip Semiconductor has a fifty-two week low of $5.75 and a fifty-two week high of $13.06.
Hedge funds and other institutional investors have recently modified their holdings of the business. Quantamental Technologies LLC acquired a new stake in Magnachip Semiconductor in the 1st quarter valued at about $26,000. BlackRock Inc. acquired a new stake in Magnachip Semiconductor in the 4th quarter valued at about $41,000. PEAK6 Investments LLC acquired a new stake in Magnachip Semiconductor in the 4th quarter valued at about $79,000. Envestnet Asset Management Inc. purchased a new stake in Magnachip Semiconductor during the first quarter valued at about $173,000. Finally, James Investment Research Inc. purchased a new stake in Magnachip Semiconductor during the first quarter valued at about $386,000. 88.75% of the stock is owned by institutional investors.
About Magnachip Semiconductor
MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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