Roth Mkm Lowers Magnachip Semiconductor (NYSE:MX) Price Target to $8.00

Magnachip Semiconductor (NYSE:MX) had its price target lowered by Roth Mkm from $10.00 to $8.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Roth Mkm’s price objective points to a potential upside of 57.17% from the stock’s current price.

Several other analysts have also weighed in on the company. StockNews.com upgraded Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Needham & Company LLC cut their price target on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday.

Magnachip Semiconductor Trading Up 3.2 %

Shares of MX opened at $5.09 on Friday. Magnachip Semiconductor has a 52-week low of $4.70 and a 52-week high of $11.68. The firm has a 50-day moving average price of $5.41 and a 200 day moving average price of $6.47.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.08. The business had revenue of $50.82 million for the quarter, compared to analyst estimates of $52.45 million. Magnachip Semiconductor had a negative net margin of 13.76% and a negative return on equity of 8.16%. During the same quarter last year, the business earned ($0.39) earnings per share. As a group, sell-side analysts predict that Magnachip Semiconductor will post -1.4 EPS for the current year.

Institutional Investors Weigh In On Magnachip Semiconductor

Institutional investors and hedge funds have recently modified their holdings of the stock. Aigen Investment Management LP purchased a new position in Magnachip Semiconductor in the 3rd quarter worth about $125,000. J.W. Cole Advisors Inc. purchased a new position in shares of Magnachip Semiconductor in the fourth quarter worth approximately $105,000. Altfest L J & Co. Inc. purchased a new position in shares of Magnachip Semiconductor in the fourth quarter worth approximately $165,000. Covestor Ltd raised its holdings in shares of Magnachip Semiconductor by 16.4% during the third quarter. Covestor Ltd now owns 44,696 shares of the semiconductor company’s stock valued at $371,000 after acquiring an additional 6,307 shares during the period. Finally, Polunin Capital Partners Ltd lifted its position in shares of Magnachip Semiconductor by 72.4% in the 4th quarter. Polunin Capital Partners Ltd now owns 375,495 shares of the semiconductor company’s stock valued at $2,816,000 after acquiring an additional 157,683 shares in the last quarter. 74.26% of the stock is owned by institutional investors and hedge funds.

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.