Magnachip Semiconductor (NYSE:MX) was upgraded by equities researchers at TheStreet from a “d” rating to a “c” rating in a note issued to investors on Wednesday.
MX has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Magnachip Semiconductor in a report on Thursday, November 2nd. Zacks Investment Research cut shares of Magnachip Semiconductor from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, ValuEngine cut shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.67.
Magnachip Semiconductor (NYSE:MX) traded down $0.85 during trading on Wednesday, hitting $9.00. 2,440,000 shares of the stock traded hands, compared to its average volume of 549,086. The company has a debt-to-equity ratio of -4.96, a quick ratio of 1.96 and a current ratio of 2.42. Magnachip Semiconductor has a fifty-two week low of $7.00 and a fifty-two week high of $13.40. The stock has a market cap of $359.14, a PE ratio of 4.84 and a beta of -0.04.
In related news, major shareholder Brigade Leveraged Capital Stru sold 25,294 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $12.75, for a total value of $322,498.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.80% of the company’s stock.
Large investors have recently modified their holdings of the stock. Rubric Capital Management LP boosted its holdings in Magnachip Semiconductor by 16.9% in the third quarter. Rubric Capital Management LP now owns 2,250,500 shares of the semiconductor company’s stock worth $25,543,000 after purchasing an additional 325,500 shares in the last quarter. Evermore Global Advisors LLC boosted its holdings in Magnachip Semiconductor by 34.1% in the third quarter. Evermore Global Advisors LLC now owns 3,125,620 shares of the semiconductor company’s stock worth $35,476,000 after purchasing an additional 794,415 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Magnachip Semiconductor during the third quarter valued at about $2,723,000. Oaktree Capital Management LP boosted its holdings in Magnachip Semiconductor by 44.9% during the third quarter. Oaktree Capital Management LP now owns 2,340,000 shares of the semiconductor company’s stock valued at $26,559,000 after acquiring an additional 725,000 shares during the period. Finally, Luzich Partners LLC boosted its holdings in Magnachip Semiconductor by 19.1% during the third quarter. Luzich Partners LLC now owns 750,092 shares of the semiconductor company’s stock valued at $8,514,000 after acquiring an additional 120,436 shares during the period. Hedge funds and other institutional investors own 90.65% 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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