TheStreet Upgrades Magnachip Semiconductor (MX) to C

Magnachip Semiconductor (NYSE:MX) was upgraded by stock analysts at TheStreet from a “d” rating to a “c” rating in a report issued on Wednesday, February 7th.

MX has been the subject of a number of other research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Magnachip Semiconductor in a research report on Thursday, November 2nd. Zacks Investment Research downgraded Magnachip Semiconductor from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, ValuEngine cut Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. Magnachip Semiconductor currently has an average rating of “Hold” and an average target price of $12.67.

Magnachip Semiconductor (NYSE:MX) traded down $0.20 during trading hours on Wednesday, reaching $9.45. The company’s stock had a trading volume of 490,317 shares, compared to its average volume of 650,722. Magnachip Semiconductor has a 52-week low of $7.15 and a 52-week high of $13.40. The company has a current ratio of 2.42, a quick ratio of 1.96 and a debt-to-equity ratio of -4.96. The firm has a market cap of $323.09, a P/E ratio of 5.00 and a beta of -0.04.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.23 earnings per share 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 analyst estimates of $174.00 million. During the same period last year, the company earned $0.04 EPS. The company’s revenue was down 1.2% compared to the same quarter last year. research analysts forecast that Magnachip Semiconductor will post 0.75 EPS for the current year.

In other Magnachip Semiconductor news, CEO Young-Joon Kim purchased 8,888 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were acquired at an average price of $9.15 per share, for a total transaction of $81,325.20. Following the purchase, the chief executive officer now owns 67,963 shares in the company, valued at $621,861.45. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Melvin L. Keating purchased 3,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was acquired at an average price of $9.01 per share, for a total transaction of $32,436.00. Following the purchase, the director now owns 24,016 shares in the company, valued at approximately $216,384.16. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 20,488 shares of company stock worth $186,321. Company insiders own 3.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Rubric Capital Management LP raised its stake in Magnachip Semiconductor by 16.9% in the 3rd quarter. Rubric Capital Management LP now owns 2,250,500 shares of the semiconductor company’s stock valued at $25,543,000 after acquiring an additional 325,500 shares during the period. Evermore Global Advisors LLC grew its holdings in Magnachip Semiconductor by 34.1% in the 3rd quarter. Evermore Global Advisors LLC now owns 3,125,620 shares of the semiconductor company’s stock valued at $35,476,000 after buying an additional 794,415 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Magnachip Semiconductor in the 3rd quarter valued at $2,723,000. Oaktree Capital Management LP grew its holdings in Magnachip Semiconductor by 44.9% in the 3rd quarter. Oaktree Capital Management LP now owns 2,340,000 shares of the semiconductor company’s stock valued at $26,559,000 after buying an additional 725,000 shares in the last quarter. Finally, Luzich Partners LLC grew its holdings in Magnachip Semiconductor by 19.1% in the 3rd quarter. Luzich Partners LLC now owns 750,092 shares of the semiconductor company’s stock valued at $8,514,000 after buying an additional 120,436 shares in the last quarter. Institutional investors and hedge funds own 90.32% of the company’s stock.

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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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