MagnaChip Semiconductor Corporation (NYSE:MX)‘s stock had its “buy” rating reissued by equities researchers at Needham & Company LLC in a research note issued on Thursday. They currently have a $13.00 price target on the semiconductor company’s stock, up from their prior price target of $10.00. Needham & Company LLC’s target price would indicate a potential upside of 18.18% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. TheStreet raised MagnaChip Semiconductor Corporation from a “d” rating to a “c-” rating in a research report on Thursday, May 4th. Zacks Investment Research lowered MagnaChip Semiconductor Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. ValuEngine raised MagnaChip Semiconductor Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Citigroup Inc. started coverage on MagnaChip Semiconductor Corporation in a research report on Wednesday, May 10th. They set a “neutral” rating and a $10.50 target price for the company. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $10.69.

MagnaChip Semiconductor Corporation (NYSE:MX) opened at 11.00 on Thursday. The firm has a 50 day moving average of $9.08 and a 200 day moving average of $8.18. MagnaChip Semiconductor Corporation has a 12-month low of $5.20 and a 12-month high of $11.25. The firm has a market capitalization of $372.75 million, a P/E ratio of 63.58 and a beta of -0.31.

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In related news, insider Young-Joon Kim sold 11,800 shares of MagnaChip Semiconductor Corporation stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $8.90, for a total value of $105,020.00. Following the completion of the sale, the insider now owns 59,075 shares of the company’s stock, valued at approximately $525,767.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.80% of the company’s stock.

Large investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in shares of MagnaChip Semiconductor Corporation by 47.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 573,532 shares of the semiconductor company’s stock valued at $3,556,000 after buying an additional 185,625 shares during the period. Allianz Asset Management AG purchased a new stake in shares of MagnaChip Semiconductor Corporation during the fourth quarter valued at $1,792,000. Renaissance Technologies LLC raised its stake in shares of MagnaChip Semiconductor Corporation by 713.9% in the fourth quarter. Renaissance Technologies LLC now owns 228,131 shares of the semiconductor company’s stock valued at $1,414,000 after buying an additional 200,100 shares during the period. Columbus Circle Investors purchased a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter valued at $900,000. Finally, Essex Investment Management Co. LLC purchased a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter valued at $128,000. 92.95% of the stock is owned by institutional investors.

About MagnaChip Semiconductor Corporation

MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.

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