MagnaChip Semiconductor Director Special Situations Fund Avenue Sells 1,700,000 Shares (MX)
MagnaChip Semiconductor (NYSE:MX) Director Special Situations Fund Avenue sold 1,700,000 shares of the stock on the open market in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $21.00, for a total value of $35,700,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Topeka Capital Markets raised their price target on shares of MagnaChip Semiconductor (NYSE:MX) from $23.00 to $28.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Susquehanna raised their price target on shares of MagnaChip Semiconductor (NYSE:MX) from $25.00 to $26.00 in a research note to investors on Tuesday, September 3rd. They now have a “positive” rating on the stock. Finally, analysts at Barclays Capital raised their price target on shares of MagnaChip Semiconductor (NYSE:MX) from $20.00 to $26.00 in a research note to investors on Tuesday, August 13th. They now have an “overweight” rating on the stock.
One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. MagnaChip Semiconductor has an average rating of “Buy” and an average target price of $28.25.
Shares of MagnaChip Semiconductor (NYSE:MX) traded down 0.74% during mid-day trading on Friday, hitting $22.86. 279,991 shares of the company’s stock traded hands. MagnaChip Semiconductor has a one year low of $10.85 and a one year high of $23.33. The stock’s 50-day moving average is $20.11 and its 200-day moving average is $17.76. The company has a market cap of $815.7 million and a price-to-earnings ratio of 4.89.
MagnaChip Semiconductor (NYSE:MX) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.12. The company had revenue of $215.30 million for the quarter, compared to the consensus estimate of $214.91 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 6.3% on a year-over-year basis.
MagnaChip Semiconductor Corporation (NYSE:MX) is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer applications.
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