Magnachip Semiconductor (NYSE:MX) Given New $8.00 Price Target at Roth Mkm

Magnachip Semiconductor (NYSE:MX) had its price objective decreased by Roth Mkm from $10.00 to $8.00 in a report issued on Friday morning, Benzinga reports. Roth Mkm currently has a buy rating on the semiconductor company’s stock.

Several other research analysts also recently commented on MX. StockNews.com raised shares of Magnachip Semiconductor from a sell rating to a hold rating in a report on Saturday, March 9th. Needham & Company LLC decreased their target price on Magnachip Semiconductor from $10.00 to $8.00 and set a buy rating on the stock in a research report on Friday.

Magnachip Semiconductor Price Performance

Shares of NYSE:MX traded up $0.16 during trading on Friday, hitting $5.09. 408,428 shares of the company’s stock were exchanged, compared to its average volume of 282,714. The business’s 50-day simple moving average is $5.41 and its 200 day simple moving average is $6.47. The company has a market cap of $194.74 million, a price-to-earnings ratio of -6.53 and a beta of 0.77. Magnachip Semiconductor has a 52-week low of $4.70 and a 52-week high of $11.68.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.08. Magnachip Semiconductor had a negative return on equity of 8.16% and a negative net margin of 13.76%. The business had revenue of $50.82 million during the quarter, compared to the consensus estimate of $52.45 million. During the same period in the prior year, the company posted ($0.39) EPS. On average, sell-side analysts anticipate that Magnachip Semiconductor will post -1.4 EPS for the current fiscal year.

Institutional Trading of Magnachip Semiconductor

Several hedge funds have recently made changes to their positions in MX. Allspring Global Investments Holdings LLC raised its position in Magnachip Semiconductor by 177.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 2,994 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Magnachip Semiconductor by 36.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,248 shares of the semiconductor company’s stock worth $84,000 after buying an additional 3,024 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Magnachip Semiconductor by 808.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,496 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 3,111 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in Magnachip Semiconductor by 5.7% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 77,103 shares of the semiconductor company’s stock worth $641,000 after acquiring an additional 4,150 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Magnachip Semiconductor during the third quarter valued at approximately $36,000. 74.26% of the stock is currently owned by hedge funds and other institutional investors.

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.