Somewhat Positive Media Coverage Extremely Unlikely to Impact Magnachip Semiconductor Corp (MX) Stock Price

Media coverage about Magnachip Semiconductor Corp (NYSE:MX) has trended somewhat positive this week, according to Alpha One. Alpha One, a subsidiary of Accern, identifies positive and negative news coverage by monitoring more than 20 million blog and news sources. Alpha One ranks coverage of public companies on a scale of -1 to 1, with scores closest to one being the most favorable. Magnachip Semiconductor Corp earned a coverage optimism score of 0.14 on Alpha One’s scale. Alpha One also assigned media headlines about the semiconductor company an impact score of 10 out of 100, indicating that recent news coverage is extremely unlikely to have an effect on the company’s share price in the near future.

These are some of the news stories that may have effected Alpha One Sentiment’s scoring:

Magnachip Semiconductor Corp (NYSE:MX) traded up 2.34% during trading on Friday, reaching $8.75. The company had a trading volume of 142,900 shares. Magnachip Semiconductor Corp has a 52-week low of $4.99 and a 52-week high of $10.20. The company has a 50 day moving average price of $8.84 and a 200 day moving average price of $7.55. The company has a market capitalization of $296.50 million, a PE ratio of 50.58 and a beta of 0.30.

MX has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of Magnachip Semiconductor Corp in a report on Friday, February 24th. TheStreet upgraded Magnachip Semiconductor Corp from a “d” rating to a “c-” rating in a report on Thursday, May 4th. Citigroup Inc initiated coverage on Magnachip Semiconductor Corp in a report on Wednesday, May 10th. They issued a “neutral” rating and a $10.50 target price on the stock. Finally, Zacks Investment Research upgraded Magnachip Semiconductor Corp from a “hold” rating to a “strong-buy” rating and set a $9.25 target price on the stock in a report on Tuesday, January 24th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $9.94.

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In other Magnachip Semiconductor Corp news, insider Young-Joon Kim sold 11,800 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was sold at an average price of $8.90, for a total value of $105,020.00. Following the sale, the insider now owns 59,075 shares in the company, valued at approximately $525,767.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.20% of the company’s stock.

About Magnachip Semiconductor Corp

MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.

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