Magnachip Semiconductor (MX) Upgraded by TheStreet to C

TheStreet upgraded shares of Magnachip Semiconductor (NYSE:MX) from a d rating to a c rating in a research note issued to investors on Wednesday.

Several other analysts have also recently commented on the stock. Needham & Company LLC restated a buy rating and set a $15.00 price objective on shares of Magnachip Semiconductor in a research note on Wednesday, January 17th. Zacks Investment Research cut shares of Magnachip Semiconductor from a buy rating to a hold rating in a research note on Wednesday, November 8th. Finally, ValuEngine cut shares of Magnachip Semiconductor from a hold rating to a sell rating in a research note on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $12.67.

Shares of Magnachip Semiconductor (NYSE MX) opened at $9.00 on Wednesday. The company has a market cap of $336.77, a P/E ratio of 4.62 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 has a 12 month low of $7.00 and a 12 month high of $13.40.

Magnachip Semiconductor (NYSE:MX) last released its earnings results on Tuesday, February 6th. The semiconductor company reported $0.23 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 analyst estimates of $174.00 million. Magnachip Semiconductor had a negative return on equity of 40.94% and a net margin of 12.50%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the business earned $0.04 earnings per share. analysts anticipate that Magnachip Semiconductor will post 1 earnings per share for the current fiscal year.

In other Magnachip Semiconductor news, major shareholder Brigade Leveraged Capital Stru sold 25,294 shares of Magnachip Semiconductor stock in a transaction that occurred on Friday, January 26th. The shares were sold at an average price of $12.75, for a total transaction of $322,498.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp lifted its stake in Magnachip Semiconductor by 1.5% during the 2nd quarter. State Street Corp now owns 40,222 shares of the semiconductor company’s stock valued at $394,000 after acquiring an additional 606 shares during the period. Silverback Asset Management LLC lifted its stake in Magnachip Semiconductor by 1.6% during the 2nd quarter. Silverback Asset Management LLC now owns 313,461 shares of the semiconductor company’s stock valued at $3,072,000 after acquiring an additional 5,000 shares during the period. Citadel Advisors LLC lifted its stake in Magnachip Semiconductor by 66.9% during the 3rd quarter. Citadel Advisors LLC now owns 15,465 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 6,197 shares during the period. Northern Trust Corp acquired a new stake in Magnachip Semiconductor during the 2nd quarter valued at approximately $111,000. Finally, Tower Research Capital LLC TRC lifted its stake in Magnachip Semiconductor by 3,798.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,347 shares of the semiconductor company’s stock valued at $143,000 after acquiring an additional 13,979 shares during the period. Institutional investors and hedge funds own 90.65% of the company’s stock.

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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.

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