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