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.
COPYRIGHT VIOLATION WARNING: “TheStreet Upgrades Magnachip Semiconductor (MX) to C” was posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this piece on another site, it was illegally stolen and republished in violation of U.S. & international copyright and trademark law. The correct version of this piece can be viewed at https://www.dispatchtribunal.com/2018/02/16/magnachip-semiconductor-mx-upgraded-to-c-at-thestreet.html.
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.
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.