MagnaChip price target lowered to $4 from $5 at Roth Capital

Roth Capital lowered the firm’s price target on MagnaChip (MX) to $4 from $5 and keeps a Buy rating on the shares after its Q3 results. The company reported some impact in the quarter from prior quarter pull-ins and pricing pressure while also guiding for one-time revenue and margin impact from inventory reduction incentives, the analyst tells investors in a research note. Roth adds it is encouraged by the company’s restructuring/cost focused efforts in support of launching newer and more competitive products in the coming quarters.