Needham Remains a Buy on MagnaChip (MX)


In a report released today, Rajvindra Gill from Needham maintained a Buy rating on MagnaChip (MX), with a price target of $10. The company’s shares opened today at $8.84.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 12.4% and a 59.8% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Sequans Communications S A, Everspin Technologies Inc, and Smart Global Holdings Inc.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for MagnaChip with a $10 average price target.

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The company has a one-year high of $13.06 and a one-year low of $5.75. Currently, MagnaChip has an average volume of 305.2K.

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MagnaChip Semiconductor Corp. engages in the design and manufacture of analog and mixed-signal semiconductor products. It operates through the Foundry Services Group and Standard Products Group segments.

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