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Needham Maintains Buy Rating for MagnaChip Semiconductor: Here's What You Need To Know

Needham has decided to maintain its Buy rating of MagnaChip Semiconductor (NYSE:MX) and lower its price target from $29.00 to $25.00.

Shares of MagnaChip Semiconductor are trading down 4.83% over the last 24 hours, at $17.35 per share.

A move to $25.00 would account for a 44.09% increase from the current share price.

About MagnaChip Semiconductor

MagnaChip Semiconductor Corp designs and manufactures analog and mixed-signal semiconductor platform solutions for communications, Internet of Things applications, consumer, industrial and automotive applications. The company's product portfolio consists of large display solutions, mobile display solutions, sensor solutions, LED solutions, mobile solutions, and power conversions. The company operates in two segments namely Transitional Fab 3 foundry services and Standard products business. It generates maximum revenue from the Standard products business segment. Geographically, it derives a majority of revenue from the Asia Pacific.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along with analyst success scores in Benzinga Pro.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

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