Magnachip Semiconductor’s (MX) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Magnachip Semiconductor (NYSE:MX) in a research note issued to investors on Thursday,Benzinga reports. They currently have a $6.00 price target on the semiconductor company’s stock.

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 Trading Down 4.2 %

NYSE:MX opened at $3.66 on Thursday. The firm has a market capitalization of $136.09 million, a P/E ratio of -3.15 and a beta of 0.58. The business has a 50 day simple moving average of $4.31 and a 200 day simple moving average of $4.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.81 and a quick ratio of 4.09. Magnachip Semiconductor has a 12-month low of $3.56 and a 12-month high of $5.97.

Institutional Trading of Magnachip Semiconductor

Several large investors have recently added to or reduced their stakes in MX. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Magnachip Semiconductor in the third quarter worth $29,000. R Squared Ltd bought a new position in Magnachip Semiconductor in the 4th quarter valued at about $32,000. Hsbc Holdings PLC acquired a new position in Magnachip Semiconductor during the 4th quarter valued at about $47,000. Canandaigua National Bank & Trust Co. bought a new stake in shares of Magnachip Semiconductor during the 4th quarter worth about $70,000. Finally, XTX Topco Ltd acquired a new stake in shares of Magnachip Semiconductor in the 4th quarter worth approximately $145,000. 74.26% of the stock is currently owned by institutional investors and hedge funds.

About Magnachip Semiconductor

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.