MagnaChip Semiconductor (NYSE:MX) had its target price increased by equities research analysts at Citigroup from $10.00 to $20.00 in a research report issued to clients and investors on Tuesday, The Fly reports. Citigroup’s target price would suggest a potential upside of 7.24% from the company’s previous close.
Other analysts have also issued research reports about the company. Oppenheimer restated a “buy” rating and set a $25.00 target price on shares of MagnaChip Semiconductor in a report on Thursday, February 18th. Zacks Investment Research cut MagnaChip Semiconductor from a “hold” rating to a “sell” rating in a research note on Wednesday, November 4th. Needham & Company LLC lifted their target price on MagnaChip Semiconductor from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Thursday, February 18th. TheStreet raised shares of MagnaChip Semiconductor from a “c” rating to a “b-” rating in a research report on Thursday, February 18th. Finally, Roth Capital lifted their price objective on shares of MagnaChip Semiconductor from $20.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, February 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $23.60.
Shares of MX stock traded down $0.51 on Tuesday, hitting $18.65. The stock had a trading volume of 17,365 shares, compared to its average volume of 742,698. MagnaChip Semiconductor has a one year low of $6.30 and a one year high of $21.25. The business has a 50 day moving average price of $17.98 and a 200 day moving average price of $14.52. The company has a market cap of $662.78 million, a PE ratio of 2.90, a P/E/G ratio of 0.80 and a beta of 1.05.
Hedge funds and other institutional investors have recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in shares of MagnaChip Semiconductor by 90.5% during the fourth quarter. JPMorgan Chase & Co. now owns 3,809 shares of the semiconductor company’s stock worth $52,000 after acquiring an additional 1,809 shares during the last quarter. Bank of America Corp DE grew its position in MagnaChip Semiconductor by 3,954.0% during the 2nd quarter. Bank of America Corp DE now owns 4,054 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 3,954 shares during the last quarter. Wells Fargo & Company MN increased its stake in MagnaChip Semiconductor by 880.0% during the 4th quarter. Wells Fargo & Company MN now owns 4,792 shares of the semiconductor company’s stock valued at $65,000 after purchasing an additional 4,303 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MagnaChip Semiconductor by 141.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,648 shares of the semiconductor company’s stock worth $91,000 after buying an additional 3,899 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of MagnaChip Semiconductor during the third quarter worth $153,000. 97.18% of the stock is owned by institutional investors and hedge funds.
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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