Price Action to Note: Magnachip Semiconductor Corp Increases Again; Strong Momentum for Buyers

Price Action to Note: Magnachip Semiconductor Corp Increases Again; Strong Momentum for Buyers

The stock of Magnachip Semiconductor Corp (NYSE:MX) is a huge mover today! About 150,545 shares traded hands. Magnachip Semiconductor Corp (NYSE:MX) has declined 2.05% since April 4, 2016 and is downtrending. It has underperformed by 3.14% the S&P500.
The move comes after 8 months positive chart setup for the $221.47 million company. It was reported on Nov, 4 by Barchart.com. We have $7.49 PT which if reached, will make NYSE:MX worth $77.51M more.

Magnachip Semiconductor Corp (NYSE:MX) Ratings Coverage

Out of 3 analysts covering MagnaChip Semi (NYSE:MX), 3 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. MagnaChip Semi has been the topic of 6 analyst reports since August 7, 2015 according to StockzIntelligence Inc. As per Thursday, February 18, the company rating was maintained by Topeka Capital Markets. The firm has “Buy” rating by TH Capital given on Thursday, September 29. The firm earned “Buy” rating on Thursday, September 29 by Roth Capital. The company was maintained on Friday, October 30 by Topeka Capital Markets. On Friday, May 6 the stock rating was maintained by Topeka Capital Markets with “Buy”. Topeka Capital Markets maintained the stock with “Buy” rating in Friday, August 7 report.

According to Zacks Investment Research, “MagnaChip Semiconductor Corporation operates as a designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications. The Company operates through three key segments: Display Solutions, Power Solutions and Semiconductor Manufacturing Services. Products offered by MagnaChip through its Display Solutions segment includes source and gate drivers and timing controllers that cover a wide range of flat panel displays used in LCD, light emitting diode, or LED, and 3D televisions and displays, mobile PCs and mobile communications and entertainment devices. The Power Solutions products include discrete and integrated circuit solutions for power management in high-volume consumer applications. Semiconductor Manufacturing Services segment provides specialty analog and mixed-signal foundry services for fabless semiconductor companies. MagnaChip Semiconductor Corporation is headquartered in Chungbuk, South Korea.”

Insitutional Activity: The institutional sentiment decreased to 1.04 in Q2 2016. Its down 0.57, from 1.61 in 2016Q1. The ratio dived, as 9 funds sold all Magnachip Semiconductor Corp shares owned while 14 reduced positions. 12 funds bought stakes while 12 increased positions. They now own 27.85 million shares or 3.03% less from 28.72 million shares in 2016Q1.
Oxford Asset Mngmt accumulated 0.04% or 176,358 shares. Invesco has 0% invested in the company for 138,926 shares. Dimensional Fund Advisors L P has invested 0% of its portfolio in Magnachip Semiconductor Corp (NYSE:MX). Fmr Limited Liability Corporation holds 0% of its portfolio in Magnachip Semiconductor Corp (NYSE:MX) for 1.23M shares. California Public Employees Retirement accumulated 0% or 222,900 shares. The New York-based Tower Capital Limited Company (Trc) has invested 0% in Magnachip Semiconductor Corp (NYSE:MX). Moreover, Picton Mahoney Asset Mgmt has 0.01% invested in Magnachip Semiconductor Corp (NYSE:MX) for 23,400 shares. Moreover, Morgan Stanley has 0% invested in Magnachip Semiconductor Corp (NYSE:MX) for 10,050 shares. Brigade Cap Lp holds 1.98 million shares or 1.74% of its portfolio. Lasry Marc last reported 5.42% of its portfolio in the stock. The New York-based Springowl Associate Ltd Liability Corp has invested 4.29% in Magnachip Semiconductor Corp (NYSE:MX). Cypress Funds Lc last reported 2.01% of its portfolio in the stock. Pleasant Lake Partners Lc last reported 3.32 million shares in the company. Connor Clark Lunn Investment Mgmt holds 0.02% or 447,200 shares in its portfolio. The New York-based Clear Harbor Asset Management Limited Company has invested 0.01% in Magnachip Semiconductor Corp (NYSE:MX).

Insider Transactions: Since August 4, 2016, the stock had 0 insider buys, and 1 sale for $434,548 net activity. On Thursday, August 4 Pleasant Lake Partners LLC sold $434,548 worth of the stock or 58,000 shares.

More important recent Magnachip Semiconductor Corp (NYSE:MX) news were published by: Prnewswire.com which released: “MagnaChip Schedules Third Quarter 2016 Earnings Release and Conference Call” on October 18, 2016, also Prnewswire.com published article titled: “MagnaChip Announces Cost Competitive 0.13 micron Slim Flash Process Technology”, Prnewswire.com published: “Himax Selects MagnaChip to Begin Volume Production On Jointly Developed Power …” on September 07, 2016. More interesting news about Magnachip Semiconductor Corp (NYSE:MX) was released by: Pehub.com and their article: “MagnaChip Semiconductor Corp. and Engaged Capital reach settlement” with publication date: May 27, 2016.

MX Company Profile

MagnaChip Semiconductor Corporation, incorporated on January 8, 2008, is a holding company, which creates and makes analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of things (IoT) applications. The Firm provides technology platforms for analog, mixed-signal, power, high voltage, non-volatile memory and radio frequency (RF) applications. The Firm operates through two divisions: Foundry Services Group and Standard Products Group. The Company’s Foundry Services Group provides specialty analog and mixed-signal foundry services for fabless and integrated device maker (IDM) semiconductor companies that primarily serve the consumer, computing, communication, industrial, automotive and IoT applications. The Company’s Standard Products Group consists of two business lines: Display Solutions and Power Solutions. The Company’s Display Solutions products provide flat panel display solutions to suppliers of large and small flat panel displays. The Company’s Power Solutions products include discrete and integrated circuit solutions for power management in consumer, communication and industrial applications. The Company’s subsidiaries include MagnaChip Semiconductor Ltd.

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