MagnaChip Semiconductor Corporation (NYSE:MX) had its target price lifted by Citigroup Inc. from $10.50 to $11.00 in a report issued on Monday. The brokerage currently has a “neutral” rating on the semiconductor company’s stock. Citigroup Inc.’s price objective indicates a potential downside of 11.65% from the stock’s current price.

A number of other equities research analysts have also recently commented on MX. BidaskClub cut MagnaChip Semiconductor Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Needham & Company LLC reissued a “buy” rating on shares of MagnaChip Semiconductor Corporation in a report on Friday. Zacks Investment Research cut MagnaChip Semiconductor Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. ValuEngine raised MagnaChip Semiconductor Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, TheStreet raised MagnaChip Semiconductor Corporation from a “d” rating to a “c-” rating in a report on Thursday, May 4th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $10.81.

MagnaChip Semiconductor Corporation (NYSE MX) traded down 5.3028% during trading on Monday, hitting $11.7898. The stock had a trading volume of 192,917 shares. MagnaChip Semiconductor Corporation has a 52-week low of $5.20 and a 52-week high of $12.75. The firm has a market cap of $399.51 million, a P/E ratio of 68.1491 and a beta of -0.29. The company has a 50-day moving average of $10.25 and a 200 day moving average of $8.90.

MagnaChip Semiconductor Corporation (NYSE:MX) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.17. The business had revenue of $166.70 million for the quarter, compared to the consensus estimate of $165 million. MagnaChip Semiconductor Corporation’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.05) earnings per share. On average, equities research analysts predict that MagnaChip Semiconductor Corporation will post $0.60 earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of MX. Suntrust Banks Inc. purchased a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter valued at about $101,000. Highbridge Capital Management LLC purchased a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter valued at about $127,000. Essex Investment Management Co. LLC purchased a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter valued at about $128,000. Granite Point Capital Management L.P. purchased a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter valued at about $287,000. Finally, Columbia Pacific Advisors LLC purchased a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter valued at about $382,000. 91.88% of the stock is currently owned by hedge funds and other institutional investors.

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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