MagnaChip Semiconductor Corporation (NYSE:MX)‘s stock had its “buy” rating reiterated by stock analysts at Needham & Company LLC in a research report issued to clients and investors on Friday. They presently have a $15.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 35.14% from the company’s current price.

Several other analysts have also recently commented on the stock. ValuEngine upgraded shares of MagnaChip Semiconductor Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of MagnaChip Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Zacks Investment Research cut shares of MagnaChip Semiconductor Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Citigroup Inc. upped their target price on shares of MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $12.25.

MagnaChip Semiconductor Corporation (MX) traded down 3.06% during midday trading on Friday, hitting $11.10. The stock had a trading volume of 443,490 shares. The company has a market cap of $377.80 million, a P/E ratio of 24.24 and a beta of -0.37. MagnaChip Semiconductor Corporation has a one year low of $5.20 and a one year high of $12.75. The stock’s 50-day moving average is $11.26 and its 200-day moving average is $9.47.

MagnaChip Semiconductor Corporation (NYSE:MX) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 EPS for the quarter, beating the 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. The business’s revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. Equities analysts predict that MagnaChip Semiconductor Corporation will post $0.78 EPS for the current fiscal year.

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In other news, Director Camillo Martino acquired 10,000 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average price of $10.25 per share, for a total transaction of $102,500.00. Following the transaction, the director now directly owns 31,916 shares in the company, valued at $327,139. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Marc Lasry sold 4,088,978 shares of the company’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $10.98, for a total transaction of $44,896,978.44. The disclosure for this sale can be found here. 3.80% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Evermore Global Advisors LLC increased its position in shares of MagnaChip Semiconductor Corporation by 46.8% in the 2nd quarter. Evermore Global Advisors LLC now owns 2,331,205 shares of the semiconductor company’s stock valued at $22,846,000 after buying an additional 743,575 shares in the last quarter. Rubric Capital Management LP increased its position in shares of MagnaChip Semiconductor Corporation by 13.2% in the 2nd quarter. Rubric Capital Management LP now owns 1,925,000 shares of the semiconductor company’s stock valued at $18,865,000 after buying an additional 225,000 shares in the last quarter. Hood River Capital Management LLC increased its position in shares of MagnaChip Semiconductor Corporation by 24.0% in the 2nd quarter. Hood River Capital Management LLC now owns 1,570,550 shares of the semiconductor company’s stock valued at $15,391,000 after buying an additional 303,818 shares in the last quarter. Morgan Stanley increased its position in shares of MagnaChip Semiconductor Corporation by 91.0% in the 1st quarter. Morgan Stanley now owns 916,194 shares of the semiconductor company’s stock valued at $8,749,000 after buying an additional 436,509 shares in the last quarter. Finally, Alliancebernstein L.P. bought a new stake in shares of MagnaChip Semiconductor Corporation in the 2nd quarter valued at $7,774,000. Institutional investors and hedge funds own 93.50% of the company’s stock.

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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