Magnachip Semiconductor’s (MX) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Magnachip Semiconductor (NYSE:MX) in a report released on Wednesday morning. They currently have a $15.00 price objective on the semiconductor company’s stock.

MX has been the topic of several other research reports. Zacks Investment Research lowered shares of Magnachip Semiconductor from a buy rating to a hold rating in a research report on Wednesday, November 8th. TheStreet lowered shares of Magnachip Semiconductor from a c- rating to a d rating in a research report on Thursday, November 2nd. Finally, ValuEngine lowered shares of Magnachip Semiconductor from a hold rating to a sell rating in a research report on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. Magnachip Semiconductor currently has a consensus rating of Hold and an average price target of $12.67.

Shares of Magnachip Semiconductor (NYSE:MX) traded up $1.25 during mid-day trading on Wednesday, reaching $12.80. 894,829 shares of the company’s stock traded hands, compared to its average volume of 295,217. The company has a market capitalization of $510.77, a price-to-earnings ratio of -24.62 and a beta of -0.29. The company has a current ratio of 2.42, a quick ratio of 1.96 and a debt-to-equity ratio of -4.96. Magnachip Semiconductor has a twelve month low of $7.00 and a twelve month high of $13.40.

Magnachip Semiconductor (NYSE:MX) last announced its quarterly earnings data on Wednesday, November 1st. The semiconductor company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. analysts expect that Magnachip Semiconductor will post 0.7 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Evermore Global Advisors LLC raised its position in shares of Magnachip Semiconductor by 34.1% in the third quarter. Evermore Global Advisors LLC now owns 3,125,620 shares of the semiconductor company’s stock valued at $35,476,000 after purchasing an additional 794,415 shares during the period. Oaktree Capital Management LP raised its position in shares of Magnachip Semiconductor by 44.9% in the third quarter. Oaktree Capital Management LP now owns 2,340,000 shares of the semiconductor company’s stock valued at $26,559,000 after purchasing an additional 725,000 shares during the period. Rubric Capital Management LP raised its position in shares of Magnachip Semiconductor by 16.9% in the third quarter. Rubric Capital Management LP now owns 2,250,500 shares of the semiconductor company’s stock valued at $25,543,000 after purchasing an additional 325,500 shares during the period. Hood River Capital Management LLC raised its position in shares of Magnachip Semiconductor by 19.7% in the third quarter. Hood River Capital Management LLC now owns 1,880,187 shares of the semiconductor company’s stock valued at $21,340,000 after purchasing an additional 309,637 shares during the period. Finally, Alliancebernstein L.P. bought a new stake in shares of Magnachip Semiconductor in the second quarter valued at approximately $7,774,000. 89.45% of the stock is currently owned by institutional investors.

ILLEGAL ACTIVITY WARNING: This article was originally reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are reading this article on another publication, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this article can be viewed at https://sportsperspectives.com/2018/01/18/magnachip-semiconductors-mx-buy-rating-reiterated-at-needham-company-llc.html.

Magnachip Semiconductor Company Profile

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.

Receive News & Ratings for Magnachip Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnachip Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply