MagnaChip price target lowered to $10 from $13 at Needham

Needham lowered the firm’s price target on MagnaChip to $10 from $13 but keeps a Buy rating on the shares. The company missed on Q4 results as the Gumi fab transition began to take its toll on the model, the analyst tells investors in a research note. The firm adds however that the stock offers significant upside for patient investors