Magnachip Semiconductor (NYSE:MX) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Magnachip Semiconductor (NYSE:MX – Get Rating) in a report published on Thursday. The firm issued a hold rating on the semiconductor company’s stock.

Other research analysts have also issued reports about the stock. Royal Bank of Canada raised their target price on shares of Magnachip Semiconductor from $45.00 to $50.00 and gave the company a sector perform rating in a report on Monday, February 6th. Needham & Company LLC reiterated a buy rating and set a $13.00 target price on shares of Magnachip Semiconductor in a research report on Friday, February 17th.

Magnachip Semiconductor Price Performance

Shares of Magnachip Semiconductor stock opened at $8.76 on Thursday. The company’s fifty day simple moving average is $10.11 and its two-hundred day simple moving average is $10.06. Magnachip Semiconductor has a 12-month low of $8.45 and a 12-month high of $20.64.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Fairfax Financial Holdings Ltd. Can raised its stake in shares of Magnachip Semiconductor by 25.0% during the 3rd quarter. Fairfax Financial Holdings Ltd. Can now owns 125,000 shares of the semiconductor company’s stock worth $1,280,000 after buying an additional 25,000 shares during the period. Visionary Wealth Advisors purchased a new stake in shares of Magnachip Semiconductor during the second quarter worth approximately $148,000. Ramius Advisors LLC purchased a new stake in shares of Magnachip Semiconductor during the third quarter worth approximately $1,401,000. Renaissance Group LLC increased its position in shares of Magnachip Semiconductor by 17.6% during the third quarter. Renaissance Group LLC now owns 91,008 shares of the semiconductor company’s stock worth $932,000 after purchasing an additional 13,606 shares in the last quarter. Finally, Ergoteles LLC purchased a new stake in shares of Magnachip Semiconductor during the third quarter worth approximately $171,000. 69.59% of the stock is owned by institutional investors and hedge funds.

About Magnachip Semiconductor

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MagnaChip Semiconductor Corp. engages in the design and manufacture of analog and mixed-signal platform solutions for communications, Internet of Things (IoT) applications, consumer, industrial, and automotive applications. Its products include MOSFETs; IGBTs; AC-DC/DC-DC converters; light-emitting diode (LED) drivers; regulators; power management integrated circuits (PMICs); and industrial applications such as power suppliers, e-bikes, photovoltaic inverters, LED lighting, and motor drives.