Magnachip Semiconductor MX Stock Receives Upgrade to 'Hold' Status by StockNews.com

Magnachip Semiconductor Corporation, a key player in the design, manufacture, and supply of analog and mixed-signal semiconductor solutions, has seen a notable change in its stock rating, courtesy of an update from StockNews.com. The firm's stock, trading on the New York Stock Exchange under the ticker MX, was previously rated as a 'sell' but has now been upgraded to a 'hold' rating, reflecting a more neutral market stance. The company, headquartered in Luxembourg, Luxembourg, serves a diverse range of sectors, including communications, Internet of Things, consumer, industrial, and automotive applications.

Analyst Ratings and Price Targets

While StockNews.com provided an updated perspective, other analysts have also put forth their viewpoints on MX shares. Notably, Roth Mkm adjusted their price target from $15.00 to $10.00, still maintaining a 'buy' rating on the company. Another firm, Needham & Company LLC, reaffirmed a 'buy' rating on Magnachip Semiconductor, attaching a target price of $13.00. However, TheStreet offered a less optimistic take, downgrading the stock from a 'c-' to a 'd+' rating. Overall, with a mix of 'hold' and 'buy' ratings from various analysts and based on MarketBeat.com, MX has an average consensus rating of 'Moderate Buy', with a consensus target price of $24.33.

Stock Performance and Market Data

The stock of MX opened at $6.86 on the selected trading day, with a 50-day moving average price of $7.81 and a 200-day moving average of $8.95. It presents a market capitalization of $276.18 million, carrying a price-to-earnings ratio of -10.72, and a beta of 0.89. The share prices have seen a 52-week low at $6.82 and reached a 52-week high of $11.68.

Inside Trades and Holdings

Looking at insider activity, there have been notable stock purchases by high-level company officials. Young-Joon Kim, an insider, acquired 10,888 shares of MX at an average price of $8.36 per share, totalling an investment of $91,023.68. This transaction brought Kim's direct ownership to 533,159 shares, valued at approximately $4,457,209.24. Similarly, Director Gilbert E. Nathan bought 10,000 shares at an average of $8.39 each, increasing his stake to 68,200 shares worth $572,198. These transactions underscore a level of confidence from insiders in the company's future.

Institutional Interest

The semiconductor firm has also seen varying degrees of investment activity from large institutional investors. Entities such as Polunin Capital Partners Ltd, Systematic Financial Management LP, S Squared Technology LLC, Citizens Financial Group Inc RI, and Trexquant Investment LP have adjusted or initiated their stakes in MX. The aggregate holding of institutional investors stands at 73.53% of the stock, indicating significant institutional confidence and involvement.

Company Profile

MX Operates within an advanced segment of the tech industry, providing a range of semiconductor solutions vital for various technology-driven sectors. With its specialized focus in analog and mixed-signal semiconductor platforms, the company contributes significantly to advancing flat panel display technologies and supports an era of digital convergence through its range of innovative and essential products.

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