Magnachip Semiconductor (NYSE:MX) Earns Buy Rating from Needham & Company LLC

Magnachip Semiconductor (NYSE:MX)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $6.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 58.69% from the stock’s current price.

Separately, StockNews.com lowered shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Friday, January 17th.

Magnachip Semiconductor Stock Down 6.4 %

Shares of Magnachip Semiconductor stock opened at $3.78 on Thursday. The company has a quick ratio of 4.09, a current ratio of 4.81 and a debt-to-equity ratio of 0.10. The company has a market cap of $140.66 million, a P/E ratio of -3.26 and a beta of 0.58. The firm’s 50 day moving average price is $4.31 and its 200-day moving average price is $4.34. Magnachip Semiconductor has a 52-week low of $3.56 and a 52-week high of $6.00.

Institutional Trading of Magnachip Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its stake in Magnachip Semiconductor by 91.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 102,377 shares of the semiconductor company’s stock worth $478,000 after purchasing an additional 48,767 shares during the period. BNP Paribas Financial Markets raised its stake in Magnachip Semiconductor by 5.1% during the third quarter. BNP Paribas Financial Markets now owns 271,251 shares of the semiconductor company’s stock valued at $1,267,000 after buying an additional 13,252 shares in the last quarter. 272 Capital LP boosted its stake in Magnachip Semiconductor by 141.6% in the third quarter. 272 Capital LP now owns 91,740 shares of the semiconductor company’s stock valued at $428,000 after acquiring an additional 53,774 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Magnachip Semiconductor during the third quarter worth about $29,000. Finally, Clearline Capital LP raised its stake in Magnachip Semiconductor by 7.0% during the 3rd quarter. Clearline Capital LP now owns 1,800,755 shares of the semiconductor company’s stock valued at $8,410,000 after acquiring an additional 117,079 shares in the last quarter. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.