Roth Mkm Lowers Magnachip Semiconductor (NYSE:MX) Price Target to $8.00

Magnachip Semiconductor (NYSE:MX - Get Free Report) had its price objective reduced by stock analysts at Roth Mkm from $10.00 to $8.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a "buy" rating on the semiconductor company's stock. Roth Mkm's price target would suggest a potential upside of 57.33% from the company's previous close.

Other equities research analysts have also issued reports about the stock. Needham & Company LLC dropped their price objective on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a "buy" rating on the stock in a report on Friday. StockNews.com upgraded Magnachip Semiconductor from a "sell" rating to a "hold" rating in a report on Saturday, March 9th.

Magnachip Semiconductor Stock Up 3.1 %

NYSE MX traded up $0.16 during trading on Friday, reaching $5.09. 408,426 shares of the stock traded hands, compared to its average volume of 412,158. The stock's 50-day moving average price is $5.44 and its 200 day moving average price is $6.48. The firm has a market cap of $194.55 million, a price-to-earnings ratio of -5.71 and a beta of 0.77. Magnachip Semiconductor has a fifty-two week low of $4.70 and a fifty-two week high of $11.68.

Magnachip Semiconductor (NYSE:MX - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported ($0.26) EPS for the quarter, beating analysts' consensus estimates of ($0.34) by $0.08. The business had revenue of $50.82 million during the quarter, compared to analysts' expectations of $52.45 million. Magnachip Semiconductor had a negative net margin of 15.92% and a negative return on equity of 7.85%. During the same quarter in the prior year, the company earned ($0.39) EPS. Analysts anticipate that Magnachip Semiconductor will post -1.4 EPS for the current fiscal year.

Institutional Trading of Magnachip Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of MX. Allspring Global Investments Holdings LLC grew its stake in shares of Magnachip Semiconductor by 177.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company's stock valued at $26,000 after buying an additional 2,994 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Magnachip Semiconductor in the 4th quarter valued at about $167,000. Grizzlyrock Capital LLC acquired a new position in shares of Magnachip Semiconductor during the 4th quarter worth about $2,462,000. Aristides Capital LLC bought a new stake in shares of Magnachip Semiconductor in the 4th quarter valued at about $177,000. Finally, Tower Research Capital LLC TRC lifted its stake in Magnachip Semiconductor by 808.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,496 shares of the semiconductor company's stock valued at $26,000 after purchasing an additional 3,111 shares during the last quarter. Institutional investors and hedge funds own 74.26% of the company's stock.

Magnachip Semiconductor Company Profile

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.