Magnachip Semiconductor (NYSE:MX) was upgraded by investment analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, ValuEngine reports.
Other research analysts have also issued research reports about the stock. Zacks Investment Research lowered shares of Zai Lab from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. Citigroup lowered shares of BCE from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $10.75.
Shares of MX traded up $0.07 during mid-day trading on Friday, hitting $10.27. The company had a trading volume of 152,500 shares, compared to its average volume of 305,904. The business has a 50-day moving average of $9.89. Magnachip Semiconductor has a 1-year low of $5.75 and a 1-year high of $13.06. The company has a market cap of $343.61 million, a PE ratio of 14.46 and a beta of 0.84.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Quantamental Technologies LLC purchased a new stake in shares of Magnachip Semiconductor during the first quarter valued at approximately $26,000. BlackRock Inc. acquired a new stake in shares of Magnachip Semiconductor during the fourth quarter worth approximately $41,000. James Investment Research Inc. acquired a new stake in shares of Magnachip Semiconductor during the first quarter worth approximately $386,000. Two Sigma Investments LP grew its position in shares of Magnachip Semiconductor by 4.4% during the fourth quarter. Two Sigma Investments LP now owns 75,075 shares of the semiconductor company’s stock worth $466,000 after buying an additional 3,197 shares in the last quarter. Finally, IndexIQ Advisors LLC acquired a new stake in shares of Magnachip Semiconductor during the first quarter worth approximately $548,000. Hedge funds and other institutional investors own 87.64% of the company’s stock.
Magnachip Semiconductor Company Profile
MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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