Magnachip Semiconductor (NYSE:MX) Stock Rating Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Magnachip Semiconductor (NYSE:MX) from a hold rating to a sell rating in a research note released on Saturday morning,Wall Street Zen reports.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Magnachip Semiconductor in a research note on Thursday, October 29th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce”.

Magnachip Semiconductor Stock Up 14.5%

Shares of NYSE:MX opened at $2.35 on Friday. The stock has a market capitalization of $89.32 million, a P/E ratio of -2.86 and a beta of 1.72. The stock’s 50-day moving average price is $2.93 and its 200-day moving average price is $3.64. The company has a current ratio of 2.43, a quick ratio of 1.93 and a debt-to-equity ratio of 0.07. Magnachip Semiconductor has a 12-month low of $1.92 and a 12-month high of $9.86.

Magnachip Semiconductor (NYSE:MX) last released its earnings results on Wednesday, November 4th. The semiconductor company reported ($0.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.09). The company had revenue of $43.98 million during the quarter, compared to the consensus estimate of $47.50 million. Magnachip Semiconductor had a negative net margin of 17.15% and a negative return on equity of 11.30%.

Insider Activity at Magnachip Semiconductor

In other Magnachip Semiconductor news, CEO Chae Lee purchased 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was bought at an average price of $3.18 per share, with a total value of $254,400.00. Following the completion of the purchase, the chief executive officer directly owned 368,750 shares of the company’s stock, valued at $1,172,625. The trade was a 27.71% increase in their position. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. 10.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. FourWorld Capital Management LLC boosted its stake in shares of Magnachip Semiconductor by 667.1% during the 1st quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company’s stock valued at $4,642,000 after purchasing an additional 1,441,593 shares in the last quarter. First Wilshire Securities Management Inc. raised its stake in Magnachip Semiconductor by 1.5% in the first quarter. First Wilshire Securities Management Inc. now owns 743,953 shares of the semiconductor company’s stock worth $2,083,000 after buying an additional 11,096 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Magnachip Semiconductor in the second quarter worth about $1,953,000. GSA Capital Partners LLP purchased a new stake in Magnachip Semiconductor in the second quarter worth about $946,000. Finally, Almanack Investment Partners LLC. purchased a new stake in Magnachip Semiconductor in the third quarter worth about $626,000. 74.26% of the stock is currently owned by institutional investors.

About Magnachip Semiconductor

Magnachip Semiconductor Corporation (NYSE: MX) is a semiconductor company that designs and supplies analog and mixed-signal products. Its portfolio is focused primarily on power semiconductors and display solutions used in consumer electronics, communications equipment, automotive applications, industrial systems and other electronic devices.

The company’s power products include metal-oxide-semiconductor field-effect transistors (MOSFETs), insulated-gate bipolar transistors (IGBTs), power integrated circuits and other discrete semiconductor devices designed to manage power conversion, distribution and efficiency.