BidaskClub upgraded shares of MagnaChip Semiconductor Corporation (NYSE:MX) from a hold rating to a buy rating in a report issued on Friday.

Several other analysts have also commented on the stock. Zacks Investment Research upgraded shares of MagnaChip Semiconductor Corporation from a hold rating to a buy rating and set a $13.00 price target on the stock in a research report on Thursday, August 10th. Citigroup Inc. increased their price target on shares of MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the company a neutral rating in a research report on Monday, August 7th. Needham & Company LLC reiterated a buy rating and issued a $15.00 price target (up from $13.00) on shares of MagnaChip Semiconductor Corporation in a research report on Friday, August 4th. ValuEngine upgraded shares of MagnaChip Semiconductor Corporation from a sell rating to a hold rating in a research report on Friday, June 2nd. Finally, TheStreet upgraded shares of MagnaChip Semiconductor Corporation from a d rating to a c- rating in a research report on Thursday, May 4th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. MagnaChip Semiconductor Corporation currently has a consensus rating of Buy and a consensus target price of $12.25.

MagnaChip Semiconductor Corporation (NYSE:MX) opened at 11.20 on Friday. The company has a market capitalization of $381.20 million, a price-to-earnings ratio of 24.45 and a beta of -0.29. The company’s 50-day moving average price is $11.03 and its 200-day moving average price is $9.24. MagnaChip Semiconductor Corporation has a 52 week low of $5.20 and a 52 week high of $12.75.

MagnaChip Semiconductor Corporation (NYSE:MX) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.17. The company had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $165 million. During the same period last year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts forecast that MagnaChip Semiconductor Corporation will post $0.78 earnings per share for the current fiscal year.

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In other news, Director Tavakoli Nader bought 39,100 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $10.67 per share, for a total transaction of $417,197.00. Following the completion of the transaction, the director now owns 67,686 shares in the company, valued at $722,209.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Marc Lasry sold 4,088,978 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $10.98, for a total transaction of $44,896,978.44. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the company. Evermore Global Advisors LLC raised its stake in shares of MagnaChip Semiconductor Corporation by 46.8% in the second quarter. Evermore Global Advisors LLC now owns 2,331,205 shares of the semiconductor company’s stock worth $22,846,000 after buying an additional 743,575 shares during the period. Rubric Capital Management LP raised its stake in shares of MagnaChip Semiconductor Corporation by 13.2% in the second quarter. Rubric Capital Management LP now owns 1,925,000 shares of the semiconductor company’s stock worth $18,865,000 after buying an additional 225,000 shares during the period. Hood River Capital Management LLC raised its stake in shares of MagnaChip Semiconductor Corporation by 24.0% in the second quarter. Hood River Capital Management LLC now owns 1,570,550 shares of the semiconductor company’s stock worth $15,391,000 after buying an additional 303,818 shares during the period. Morgan Stanley raised its stake in shares of MagnaChip Semiconductor Corporation by 91.0% in the first quarter. Morgan Stanley now owns 916,194 shares of the semiconductor company’s stock worth $8,749,000 after buying an additional 436,509 shares during the period. Finally, Alliancebernstein L.P. purchased a new stake in shares of MagnaChip Semiconductor Corporation during the second quarter worth about $7,774,000. Hedge funds and other institutional investors own 93.50% of the company’s stock.

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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