Magnachip Semiconductor’s (MX) Buy Rating Reiterated at Needham & Company LLC

Magnachip Semiconductor (NYSE:MX)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued on Thursday,Benzinga reports. They presently have a $6.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 58.69% from the stock’s current price.

Separately, StockNews.com cut Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research note on Friday, January 17th.

Magnachip Semiconductor Price Performance

Shares of MX opened at $3.78 on Thursday. Magnachip Semiconductor has a fifty-two week low of $3.56 and a fifty-two week high of $6.00. The firm’s 50-day simple moving average is $4.31 and its two-hundred day simple moving average is $4.34. The stock has a market cap of $140.66 million, a PE ratio of -3.26 and a beta of 0.58. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.09 and a current ratio of 4.81.

Institutional Trading of Magnachip Semiconductor

Several institutional investors have recently added to or reduced their stakes in the business. American Century Companies Inc. increased its holdings in Magnachip Semiconductor by 4.8% in the 4th quarter. American Century Companies Inc. now owns 68,851 shares of the semiconductor company’s stock worth $277,000 after buying an additional 3,138 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Magnachip Semiconductor by 5.2% in the fourth quarter. Empowered Funds LLC now owns 112,297 shares of the semiconductor company’s stock worth $451,000 after buying an additional 5,588 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Magnachip Semiconductor during the 3rd quarter valued at $29,000. Kennedy Capital Management LLC increased its position in Magnachip Semiconductor by 1.9% in the fourth quarter. Kennedy Capital Management LLC now owns 383,989 shares of the semiconductor company’s stock worth $1,544,000 after buying an additional 7,091 shares in the last quarter. Finally, R Squared Ltd purchased a new position in Magnachip Semiconductor during the fourth quarter valued at approximately $32,000. 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.