Magnachip Semiconductor Corporation [MX] Stock trading around $16.80 per share: What’s Next?


Magnachip Semiconductor Corporation [NYSE: MX] traded at a high on 06/17/22, posting a 3.19 gain after which it closed the day’ session at $16.80. The company report on June 17, 2022 that Magnachip Unveils a New 650V IGBT for Solar Inverters.

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Company intends to grow its market share in the global solar energy market with the release of this new IGBT.

Magnachip Semiconductor Corporation (“Magnachip”) (NYSE: MX) announced today that the company has unveiled a new 650V insulated-gate bipolar transistor (IGBT) for solar inverters.

The results of the trading session contributed to over 612874 shares changing hands. Over the past one week, the price volatility of Magnachip Semiconductor Corporation stands at 5.24% while the volatility over the past one month is 3.47%.

The market cap for MX stock reached $730.97 million, with 45.60 million shares outstanding and 43.78 million shares in the current float. Compared to the average trading volume of 511.88K shares, MX reached a trading volume of 612874 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Magnachip Semiconductor Corporation [MX]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MX shares is $27.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MX stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Oppenheimer have made an estimate for Magnachip Semiconductor Corporation shares, keeping their opinion on the stock as Perform, with their previous recommendation back on December 14, 2021. While these analysts kept the previous recommendation, Needham raised their target price from $18 to $25. The new note on the price target was released on January 13, 2021, representing the official price target for Magnachip Semiconductor Corporation stock. Previously, the target price had yet another raise to $21, while Oppenheimer analysts kept a Outperform rating on MX stock. On August 07, 2017, analysts increased their price target for MX shares from 10.50 to 11.

The Average True Range (ATR) for Magnachip Semiconductor Corporation is set at 0.76, with the Price to Sales ratio for MX stock in the period of the last 12 months amounting to 1.61. The Price to Book ratio for the last quarter was 1.66, with the Price to Cash per share for the same quarter was set at 6.55. Price to Free Cash Flow for MX in the course of the last twelve months was 15.49 with Quick ratio for the last quarter at 4.60.

How has MX stock performed recently?

Magnachip Semiconductor Corporation [MX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.63. With this latest performance, MX shares dropped by -14.55% in over the last four-week period, additionally sinking by -12.68% over the last 6 months – not to mention a drop of -30.03% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MX stock in for the last two-week period is set at 39.37, with the RSI for the last a single of trading hit 34.21, and the three-weeks RSI is set at 43.04 for Magnachip Semiconductor Corporation [MX]. The present Moving Average for the last 50 days of trading for this stock 17.57, while it was recorded at 17.02 for the last single week of trading, and 17.98 for the last 200 days.

Magnachip Semiconductor Corporation [MX]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Magnachip Semiconductor Corporation [MX] shares currently have an operating margin of +10.67 and a Gross Margin at +32.49. Magnachip Semiconductor Corporation’s Net Margin is presently recorded at +11.94.

Return on Equity for this stock inclined to 14.21, with Return on Assets sitting at 9.63.

Magnachip Semiconductor Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.60 and a Current Ratio set at 5.00.

Earnings analysis for Magnachip Semiconductor Corporation [MX]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Magnachip Semiconductor Corporation go to 27.00%.

Insider trade positions for Magnachip Semiconductor Corporation [MX]

There are presently around $523 million, or 71.70% of MX stock, in the hands of institutional investors. The top three institutional holders of MX stocks are: TORONADO PARTNERS, LLC with ownership of 2,580,486, which is approximately 2.253% of the company’s market cap and around 1.80% of the total institutional ownership; ALLIANCEBERNSTEIN L.P., holding 2,380,146 shares of the stock with an approximate value of $39.99 million in MX stocks shares; and OAKTREE CAPITAL MANAGEMENT LP, currently with $38.64 million in MX stock with ownership of nearly 0% of the company’s market capitalization.

Positions in Magnachip Semiconductor Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 77 institutional holders increased their position in Magnachip Semiconductor Corporation [NYSE:MX] by around 4,782,656 shares. Additionally, 58 investors decreased positions by around 5,931,663 shares, while 16 investors held positions by with 20,397,462 shares. The mentioned changes placed institutional holdings at 31,111,781 shares, according to the latest SEC report filing. MX stock had 17 new institutional investments in for a total of 448,347 shares, while 30 institutional investors sold positions of 2,161,348 shares during the same period.