Magnachip Semiconductor (MX) Stock Price Down 0.3%

Shares of Magnachip Semiconductor Corp (NYSE:MX) were down 0.3% on Thursday . The company traded as low as $9.75 and last traded at $9.82. Approximately 925,525 shares changed hands during mid-day trading, an increase of 64% from the average daily volume of 564,940 shares. The stock had previously closed at $9.85.

A number of analysts have weighed in on MX shares. 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. Zacks Investment Research lowered Magnachip Semiconductor from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. ValuEngine downgraded Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, TheStreet downgraded Magnachip Semiconductor from a “c-” rating to a “d” rating in a research report on Thursday, November 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $12.67.

The company has a quick ratio of 1.96, a current ratio of 2.42 and a debt-to-equity ratio of -4.96. The stock has a market capitalization of $382.35, a PE ratio of 5.05 and a beta of -0.04.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly 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). Magnachip Semiconductor had a negative return on equity of 40.94% and a net margin of 12.50%. The firm had revenue of $174.58 million for the quarter, compared to the consensus estimate of $174.00 million. During the same period in the previous year, the company posted $0.04 EPS. Magnachip Semiconductor’s quarterly revenue was down 1.2% compared to the same quarter last year. equities analysts forecast that Magnachip Semiconductor Corp will post 1 EPS for the current year.

In other news, major shareholder Brigade Leveraged Capital Stru sold 25,294 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $12.75, for a total transaction of $322,498.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of MX. Evermore Global Advisors LLC boosted its position in Magnachip Semiconductor by 34.1% during 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 in the last quarter. Oaktree Capital Management LP boosted its position in Magnachip Semiconductor by 44.9% during 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 in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Magnachip Semiconductor during the fourth quarter valued at about $6,180,000. Rubric Capital Management LP boosted its position in Magnachip Semiconductor by 16.9% during 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 in the last quarter. Finally, Hood River Capital Management LLC boosted its position in Magnachip Semiconductor by 19.7% during 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 in the last quarter. 90.65% 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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