Magnachip Semiconductor (NYSE:MX)‘s stock had its “buy” rating restated by equities research analysts at Needham & Company LLC in a research note issued on Wednesday. They presently have a $15.00 target price on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 29.87% from the stock’s previous close.

MX has been the subject of several other research reports. Zacks Investment Research lowered Magnachip Semiconductor from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. TheStreet lowered Magnachip Semiconductor from a “c-” rating to a “d” rating in a report on Thursday, November 2nd. Finally, ValuEngine lowered Magnachip Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $12.67.

Shares of Magnachip Semiconductor (MX) traded up $0.40 during mid-day trading on Wednesday, reaching $11.55. The company’s stock had a trading volume of 441,927 shares, compared to its average volume of 334,514. The company has a quick ratio of 1.96, a current ratio of 2.42 and a debt-to-equity ratio of -4.96. Magnachip Semiconductor has a one year low of $7.00 and a one year high of $13.40. The firm has a market cap of $460.89, a price-to-earnings ratio of -22.21 and a beta of -0.29.

Magnachip Semiconductor (NYSE:MX) last announced its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.03. analysts predict that Magnachip Semiconductor will post 0.7 EPS for the current year.

Institutional investors have recently made changes to their positions in the company. Suntrust Banks Inc. acquired a new stake in shares of Magnachip Semiconductor in the first quarter valued at $101,000. Northern Trust Corp acquired a new stake in shares of Magnachip Semiconductor during the second quarter worth $111,000. Tower Research Capital LLC TRC raised its position in shares of Magnachip Semiconductor by 123.9% during the third quarter. Tower Research Capital LLC TRC now owns 12,189 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 6,745 shares during the period. Nine Chapters Capital Management LLC acquired a new stake in shares of Magnachip Semiconductor during the third quarter worth $105,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of Magnachip Semiconductor during the first quarter worth $127,000. Institutional investors and hedge funds own 89.45% of the company’s stock.

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About Magnachip Semiconductor

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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