Needham & Company LLC reaffirmed their buy rating on shares of MagnaChip Semiconductor Corporation (NYSE:MX) in a research report sent to investors on Friday morning. The brokerage currently has a $15.00 target price on the semiconductor company’s stock.

Other equities analysts have also issued research reports about the company. Citigroup Inc. raised their price target on MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the company a neutral rating in a research note on Monday, August 7th. Zacks Investment Research upgraded MagnaChip Semiconductor Corporation from a hold rating to a buy rating and set a $13.00 price target on the stock in a research note on Thursday, August 10th. BidaskClub lowered MagnaChip Semiconductor Corporation from a buy rating to a hold rating in a research note on Monday, August 14th. Finally, ValuEngine upgraded MagnaChip Semiconductor Corporation from a sell rating to a hold rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. MagnaChip Semiconductor Corporation has an average rating of Buy and a consensus price target of $12.25.

Shares of MagnaChip Semiconductor Corporation (MX) opened at 11.30 on Friday. The stock has a market capitalization of $384.61 million, a P/E ratio of 24.67 and a beta of -0.37. The stock has a 50 day moving average of $11.24 and a 200-day moving average of $9.52. 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 announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.04 by $0.17. The firm had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $165 million. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) EPS. Analysts predict that MagnaChip Semiconductor Corporation will post $0.78 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This report was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.thecerbatgem.com/2017/09/12/magnachip-semiconductor-corporation-mx-earns-buy-rating-from-needham-company-llc.html.

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

Institutional investors and hedge funds have recently bought and sold shares of the business. Mckinley Capital Management LLC Delaware purchased a new position in MagnaChip Semiconductor Corporation in the first quarter valued at about $2,471,000. Evermore Global Advisors LLC purchased a new position in MagnaChip Semiconductor Corporation in the first quarter valued at about $15,162,000. Menta Capital LLC purchased a new position in MagnaChip Semiconductor Corporation in the first quarter valued at about $535,000. TFS Capital LLC purchased a new position in MagnaChip Semiconductor Corporation in the first quarter valued at about $713,000. Finally, ClariVest Asset Management LLC purchased a new position in MagnaChip Semiconductor Corporation in the first quarter valued at about $783,000. Institutional investors own 93.50% of the company’s stock.

MagnaChip Semiconductor Corporation Company Profile

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.

Receive News & Stock Ratings for MagnaChip Semiconductor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MagnaChip Semiconductor Corporation and related stocks with our FREE daily email newsletter.