Last analyst speaking up that I have seen was Barclays which downgraded Magnachip Semiconductor (NYSE: MX) from Overweight to Equalweight with a price target of $7.00 (from $17.00) on 2/13.
Even so - 5.28 to 7 bucks is a 32% upside.
As for what I said - "Worried about a hostile? I don't blame them"....
When a company starts getting worried about a Hostile takeover, to me that means they feel they have a good product and their stock has gotten way to cheap and they are worried to beat hell that someone (aka: activist) is going to accumulate enough shares on the open market to get some say in how things move forward.
Would you want someone doing that with your company?
No. So you put in measures that thwart that from happening.
I don't blame them. It was a wise move. First exciting thing I have read about MX in awhile. :)
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