MagnaChip Semiconductor (NYSE:MX) Price Target Raised to $20.00


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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.

MagnaChip Semiconductor (NYSE:MX) last posted its quarterly earnings results on Tuesday, February 16th. The semiconductor company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.13 by $0.27. MagnaChip Semiconductor had a net margin of 47.11% and a return on equity of 38.96%. On average, research analysts predict that MagnaChip Semiconductor will post 0.35 earnings per share for the current fiscal year.

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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Analyst Recommendations for MagnaChip Semiconductor (NYSE:MX)

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