Needham & Company LLC reaffirmed their buy rating on shares of Magnachip Semiconductor (NYSE:MX - Free Report) in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $6.00 price objective on the semiconductor company's stock.
Separately, StockNews.com upgraded shares of Magnachip Semiconductor from a "sell" rating to a "hold" rating in a research report on Thursday, March 13th.
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Magnachip Semiconductor Price Performance
Shares of MX traded up $0.17 on Tuesday, hitting $4.13. The company's stock had a trading volume of 824,323 shares, compared to its average volume of 240,856. The company has a market capitalization of $149.02 million, a PE ratio of -3.56 and a beta of 0.77. 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 fifty-two week low of $2.51 and a fifty-two week high of $5.98. The company has a 50 day moving average price of $3.31 and a 200 day moving average price of $3.87.
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the stock. Empowered Funds LLC raised its position in Magnachip Semiconductor by 5.2% in the 4th quarter. Empowered Funds LLC now owns 112,297 shares of the semiconductor company's stock worth $451,000 after purchasing an additional 5,588 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Magnachip Semiconductor by 61.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 165,552 shares of the semiconductor company's stock worth $666,000 after purchasing an additional 63,175 shares during the last quarter. XTX Topco Ltd bought a new position in Magnachip Semiconductor in the 4th quarter worth approximately $145,000. Hsbc Holdings PLC bought a new stake in shares of Magnachip Semiconductor during the 4th quarter valued at $47,000. Finally, Renaissance Technologies LLC raised its position in shares of Magnachip Semiconductor by 23.0% during the 4th quarter. Renaissance Technologies LLC now owns 237,900 shares of the semiconductor company's stock valued at $956,000 after acquiring an additional 44,546 shares during the last quarter. Institutional investors own 74.26% of the company's stock.
About Magnachip Semiconductor
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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.
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