Alert: Major Price Decline (2/29/24)-MagnaChip Semiconductor Corp (NYSE: MX).

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MagnaChip Semiconductor Corp (NYSE: MX) stock closed at $5.70 on 2/29/24 after a major decline of -14.8%. Moreover, trading volume in this decline was exceptionally high at 748% of normal. The stock has declined -10.8% during the last week and has been extremely weak relative to the market over the last nine months.

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Current PriceTarget Research Rating

Reflecting future returns on capital that are forecasted to be in line with the cost of capital, MX is expected to continue to be Value Creation neutral.

MagnaChip Semiconductor has a current Value Trend Rating of D (Negative). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing inconsistent signals. MagnaChip Semiconductor has a neutral Appreciation Score of 47 but a poor Power Rating of 21, resulting in the Negative Value Trend Rating.

Rating Review

In light of this highly negative price change we are reviewing our current Overall Rating of D. This review will be completed in the next several days.

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