Oppenheimer Believes MagnaChip (MX) Won’t Stop Here

Oppenheimer analyst Martin Yang initiated coverage with a Buy rating on MagnaChip (MX) today and set a price target of $21.00. The company’s shares closed last Thursday at $14.76, close to its 52-week high of $16.06.

According to TipRanks.com, Yang is a 2-star analyst with an average return of 3.0% and a 56.3% success rate. Yang covers the Technology sector, focusing on stocks such as Universal Display, QuickLogic, and Synaptics.

Currently, the analyst consensus on MagnaChip is a Moderate Buy with an average price target of $19.50.

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MagnaChip’s market cap is currently $480.5M and has a P/E ratio of 2.10. The company has a Price to Book ratio of 1.73.

Based on the recent corporate insider activity of 26 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MX in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

MagnaChip Semiconductor Corp. engages in the design and manufacture of analog and mixed-signal semiconductor products. It operates through the following segments: Foundry Services Group and Standard Products Group. The Foundry Services Group segment provides specialty analog and mixed-signal foundry services for fabless and Integrated Device Manufacturer semiconductor companies. The Standard Products Group segment consists of Display Solutions, which offers panel display solutions to the suppliers of large, small and flexible panel displays and Power Solutions, which comprises discrete and integrated circuit solutions for power management in consumer, communication, and industrial applications. The company was founded on November 26, 2003 and is headquartered in Luxembourg.

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