Magnachip Semiconductor Corp (NYSE:MX) has received a consensus recommendation of “Buy” from the six brokerages that are covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $13.00.
A number of research firms have recently commented on MX. TheStreet upgraded Magnachip Semiconductor from a “d+” rating to a “c-” rating in a research report on Monday, October 28th. Zacks Investment Research upgraded Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $14.00 price objective for the company in a research report on Thursday, November 14th. Finally, ValuEngine cut Magnachip Semiconductor from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th.
Shares of Magnachip Semiconductor stock traded up $0.27 on Wednesday, reaching $11.35. The company’s stock had a trading volume of 193,359 shares, compared to its average volume of 309,327. The company has a market capitalization of $390.67 million, a P/E ratio of 15.99 and a beta of 0.92. Magnachip Semiconductor has a 52-week low of $5.75 and a 52-week high of $13.80. The stock has a 50-day moving average price of $12.16 and a 200-day moving average price of $10.63.
In related news, major shareholder Brigade Capital Management, Lp sold 8,389 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $10.97, for a total transaction of $92,027.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Brigade Leveraged Capital Stru sold 98,204 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $12.26, for a total value of $1,203,981.04. The disclosure for this sale can be found here. Insiders have sold 783,525 shares of company stock valued at $10,047,430 over the last quarter. 5.50% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of MX. Acadian Asset Management LLC purchased a new stake in Magnachip Semiconductor in the 2nd quarter valued at $367,000. Renaissance Technologies LLC purchased a new stake in Magnachip Semiconductor in the 2nd quarter valued at $861,000. RMB Capital Management LLC purchased a new stake in Magnachip Semiconductor in the 2nd quarter valued at $424,000. BlackRock Inc. purchased a new stake in Magnachip Semiconductor in the 2nd quarter valued at $219,000. Finally, Marshall Wace North America L.P. purchased a new stake in Magnachip Semiconductor in the 2nd quarter valued at $802,000. Institutional investors own 94.34% of the company’s stock.
About Magnachip Semiconductor
MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.
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