Sunday, June 26, 2022

The Attractiveness of Investing In Magnachip Semiconductor Corporation (MX) is Growing

Magnachip Semiconductor Corporation’s recent filing unveils that its Kim Young-Joon acquired Company’s shares for reported $94840.0 on Feb 24. In the deal valued at $17.37 per share,5,460 shares were bought. As a result of this transaction, Kim Young-Joon now holds 341,067 shares worth roughly $ 5.7 million.

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Then, Kim Theodore S bought 3,000 shares, generating $55,350 in total proceeds. Upon buying the shares at $18.45, the now owns 150,799 shares.

Before that, Lee Woung Moo sold 7,000 shares. Magnachip Semiconductor Corporation shares valued at $130,089 were divested by the at a price of $18.58 per share. As a result of the transaction, Lee Woung Moo now holds 108,955 shares, worth roughly $1.82 million.

A number of analysts have revised their coverage, including Needham’s analysts, who remained covering the stock and in mid January has reiterated a ‘”a Buy”‘ rating for it. Oppenheimer began covering MX with a “an Outperform” recommendation on January 08, 2021. Citigroup maintained its rating on August 07, 2017. It rated MX as “a Neutral”.

Price Performance Review of MX

On Tuesday, Magnachip Semiconductor Corporation [NYSE:MX] saw its stock fall -0.48% to $16.72. On the same session, the stock had its day’s lowest price of $15.92, but rose to a high of $16.92. Over the last five days, the stock has lost -2.11%. Magnachip Semiconductor Corporation shares have fallen nearly -20.27% since the year began. Nevertheless, the stocks have fallen -30.39% over the past one year. While a 52-week high of $24.47 was reached on 01/03/22, a 52-week low of $14.66 was recorded on 04/25/22. SMA at 50 days reached $17.59, while 200 days put it at $17.98. A total of 0.61 million shares were traded, compared to the trading of 0.79 million shares in the previous session.

Levels Of Support And Resistance For MX Stock

The 24-hour chart illustrates a support level at 16.12, which if violated will result in even more drops to 15.52. On the upside, there is a resistance level at 17.12. A further resistance level may holdings at 17.52. The Relative Strength Index (RSI) on the 14-day chart is 38.89, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.86, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 80.67%. Stochastics %K at 18.23% indicates the stock is a buying.

Magnachip Semiconductor Corporation [MX] – Who Are The Largest Shareholders?

In filings from Toronado Partners LLC, it is revealed that the company now owns 2,580,486 shares, or roughly 5.75% of the outstanding MX shares. In other words, the investor’s shares have risen by 56,850 from its previous 13-F filing of 2523636.0. Additionally, AllianceBernstein LP increased 18.94% of its stake after which the total value it holdings stand at $46,412,847, while Oaktree Capital Management LP reduced 0.00% of its stake to hold $44.85 million in the firm. Over the last quarter, Rubric Capital Management LP purchased 1,077,792 shares of Magnachip Semiconductor Corporation, while Systematic Financial Management L bought -103,939 shares. At present, Columbia Management Investment Ad is holding 1,362,402 shares valued at $26.57 million. Brigade Capital Management LP owned 1,299,289 shares of the company at the time of its most recent 13F filing, worth $25.34 million.

According to FactSet, Magnachip Semiconductor Corporation’s share price will average $27.50 in the next year, based on opinions of analysts polled by the firm. This is up nearly 63.69 percent from its previous closing price of $16.80. Analysts expect Magnachip Semiconductor Corporation stock to reach the higher price of $30.00, while the lowest price estimate is $25.00. However, 3 analysts have rated MX stock as an Overweight in their predictions for 2022. The most recent change occurred on May 10, 2017 when Citigroup began covering the stock and recommended ‘”a Neutral”‘ rating.

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