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

Magnachip Semiconductor (NYSE:MX) had its target price cut by investment analysts at Roth Mkm from $10.00 to $8.00 in a research note issued on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Roth Mkm’s price objective suggests a potential upside of 57.17% from the stock’s previous close.

Several other equities research analysts have also weighed in 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 price objective on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday.

Magnachip Semiconductor Stock Performance

Shares of MX opened at $5.09 on Friday. The company has a 50-day moving average price of $5.41 and a two-hundred day moving average price of $6.47. Magnachip Semiconductor has a 12 month low of $4.70 and a 12 month high of $11.68.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Magnachip Semiconductor by 177.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 2,994 shares in the last quarter. Quadrature Capital Ltd bought a new position in Magnachip Semiconductor in the 4th quarter valued at $167,000. Grizzlyrock Capital LLC acquired a new stake in shares of Magnachip Semiconductor in the 4th quarter valued at $2,462,000. Aristides Capital LLC bought a new stake in shares of Magnachip Semiconductor during the fourth quarter worth $177,000. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Magnachip Semiconductor by 808.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,496 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 3,111 shares during the period. 74.26% of the stock is owned by 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.