Zacks Investment Research cut shares of MagnaChip Semiconductor Corporation (NYSE:MX) from a buy rating to a hold rating in a research note published on Wednesday morning.

According to Zacks, “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. “

Other research analysts have also recently issued reports about the company. Needham & Company LLC reaffirmed a buy rating and set a $13.00 price objective (up from $10.00) on shares of MagnaChip Semiconductor Corporation in a research report on Thursday, July 13th. Citigroup Inc. upped their price objective on MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the stock a neutral rating in a research report on Monday, August 7th. TheStreet cut MagnaChip Semiconductor Corporation from a c- rating to a d rating in a research report on Thursday, November 2nd. BidaskClub cut MagnaChip Semiconductor Corporation from a buy rating to a hold rating in a research report on Monday, August 14th. Finally, ValuEngine cut MagnaChip Semiconductor Corporation from a hold rating to a sell rating in a research report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $12.67.

MagnaChip Semiconductor Corporation (NYSE:MX) traded up $0.05 during trading hours on Wednesday, hitting $12.15. The stock had a trading volume of 1,113,800 shares, compared to its average volume of 417,711. MagnaChip Semiconductor Corporation has a twelve month low of $5.25 and a twelve month high of $12.75. The company has a quick ratio of 1.80, a current ratio of 2.42 and a debt-to-equity ratio of -4.96.

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In other news, Director Camillo Martino bought 10,000 shares of MagnaChip Semiconductor Corporation stock in a transaction dated Monday, August 14th. The stock was acquired at an average cost of $10.25 per share, with a total value of $102,500.00. Following the acquisition, the director now owns 31,916 shares of the company’s stock, valued at $327,139. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Marc Lasry sold 4,088,978 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $10.98, for a total value of $44,896,978.44. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by insiders.

Several institutional investors have recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of MagnaChip Semiconductor Corporation by 1.5% in the 2nd quarter. State Street Corp now owns 40,222 shares of the semiconductor company’s stock valued at $394,000 after purchasing an additional 606 shares during the last quarter. Columbia Pacific Advisors LLC raised its stake in MagnaChip Semiconductor Corporation by 12.5% during the 2nd quarter. Columbia Pacific Advisors LLC now owns 45,000 shares of the semiconductor company’s stock valued at $441,000 after acquiring an additional 5,000 shares during the last quarter. Silverback Asset Management LLC raised its stake in MagnaChip Semiconductor Corporation by 1.6% during the 2nd quarter. Silverback Asset Management LLC now owns 313,461 shares of the semiconductor company’s stock valued at $3,072,000 after acquiring an additional 5,000 shares during the last quarter. Citadel Advisors LLC raised its stake in MagnaChip Semiconductor Corporation by 66.9% during the 3rd quarter. Citadel Advisors LLC now owns 15,465 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 6,197 shares during the last quarter. Finally, Granite Point Capital Management L.P. raised its stake in MagnaChip Semiconductor Corporation by 35.9% during the 2nd quarter. Granite Point Capital Management L.P. now owns 40,781 shares of the semiconductor company’s stock valued at $400,000 after acquiring an additional 10,781 shares during the last quarter. 94.11% of the stock is owned by institutional investors and hedge funds.

About MagnaChip Semiconductor Corporation

MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.

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