Needham & Company LLC Reiterates Buy Rating for Magnachip Semiconductor (NYSE:MX)

Magnachip Semiconductor (NYSE:MX)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $6.00 price target on the semiconductor company’s stock. Needham & Company LLC’s price target indicates a potential upside of 65.29% from the stock’s current price.

Separately, StockNews.com upgraded Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Thursday, March 13th.

Magnachip Semiconductor Trading Up 11.3%

Shares of Magnachip Semiconductor stock opened at $3.63 on Tuesday. The firm has a market cap of $130.91 million, a price-to-earnings ratio of -3.13 and a beta of 0.77. The business has a 50-day moving average price of $3.31 and a 200-day moving average price of $3.88. The company has a quick ratio of 4.09, a current ratio of 4.81 and a debt-to-equity ratio of 0.10. Magnachip Semiconductor has a twelve month low of $2.51 and a twelve month high of $5.98.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Empowered Funds LLC lifted its holdings in shares of Magnachip Semiconductor by 5.2% in the 4th quarter. Empowered Funds LLC now owns 112,297 shares of the semiconductor company’s stock valued at $451,000 after acquiring an additional 5,588 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of 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 valued at $666,000 after acquiring an additional 63,175 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Magnachip Semiconductor in the 4th quarter valued at about $145,000. Hsbc Holdings PLC bought a new position in shares of Magnachip Semiconductor in the 4th quarter valued at about $47,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Magnachip Semiconductor by 23.0% in 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. Hedge funds and other institutional investors own 74.26% of the company’s stock.

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.