Shares of Magnachip Semiconductor Corp (NYSE:MX) have been assigned an average recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $13.00.
A number of equities research analysts have issued reports on MX shares. ValuEngine cut Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Magnachip Semiconductor in a research note on Thursday, November 2nd. TheStreet cut Magnachip Semiconductor from a “c-” rating to a “d” rating in a research note on Thursday, November 2nd. Finally, Zacks Investment Research upgraded Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Tuesday, November 7th.
Shares of Magnachip Semiconductor (MX) traded down $0.13 on Friday, reaching $9.07. The company had a trading volume of 429,574 shares, compared to its average volume of 642,693. Magnachip Semiconductor has a 52-week low of $7.15 and a 52-week high of $13.40. The company has a market capitalization of $362.13, a PE ratio of 4.89 and a beta of -0.04. The company has a debt-to-equity ratio of -4.96, a current ratio of 2.42 and a quick ratio of 1.96.
Magnachip Semiconductor (NYSE:MX) last posted its earnings results on Tuesday, February 6th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The company had revenue of $174.58 million during the quarter, compared to the consensus estimate of $174.00 million. Magnachip Semiconductor had a net margin of 12.50% and a negative return on equity of 40.94%. The business’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.04 earnings per share. sell-side analysts predict that Magnachip Semiconductor will post 0.75 EPS for the current year.
In other Magnachip Semiconductor news, major shareholder Brigade Leveraged Capital Stru sold 25,294 shares of the firm’s stock in a transaction on Friday, January 26th. The stock was sold at an average price of $12.75, for a total value of $322,498.50. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.80% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Northern Trust Corp acquired a new position in shares of Magnachip Semiconductor during the second quarter valued at $111,000. Tower Research Capital LLC TRC increased its holdings in shares of Magnachip Semiconductor by 3,798.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,347 shares of the semiconductor company’s stock valued at $143,000 after purchasing an additional 13,979 shares during the period. Goldman Sachs Group Inc. acquired a new position in shares of Magnachip Semiconductor during the second quarter valued at $148,000. Citadel Advisors LLC increased its holdings in shares of Magnachip Semiconductor by 66.9% during the third quarter. Citadel Advisors LLC now owns 15,465 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 6,197 shares during the period. Finally, Dixon Hubard Feinour & Brown Inc. VA acquired a new position in shares of Magnachip Semiconductor during the third quarter valued at $193,000. 90.32% of the stock is currently owned by institutional investors.
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About Magnachip Semiconductor
MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.
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