Magnachip Semiconductor (MX) Reaches New 12-Month Low at $6.15

Magnachip Semiconductor Corp (NYSE:MX) shares reached a new 52-week low on Thursday . The stock traded as low as $6.15 and last traded at $6.34, with a volume of 11699 shares. The stock had previously closed at $6.85.

Several research analysts have weighed in on MX shares. Roth Capital lowered their price target on Magnachip Semiconductor from $18.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, October 23rd. ValuEngine lowered Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Citigroup lowered their price target on Magnachip Semiconductor from $12.00 to $9.40 and set a “neutral” rating on the stock in a research report on Thursday, November 1st. Finally, Zacks Investment Research raised Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $12.47.

The stock has a market capitalization of $237.16 million, a price-to-earnings ratio of 8.66 and a beta of 0.44.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported $0.32 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. The firm had revenue of $206.00 million for the quarter, compared to analyst estimates of $205.00 million. Magnachip Semiconductor had a negative return on equity of 108.44% and a net margin of 5.65%. The business’s quarterly revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.28 EPS. On average, sell-side analysts expect that Magnachip Semiconductor Corp will post 0.44 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Tower Research Capital LLC TRC boosted its stake in shares of Magnachip Semiconductor by 1,015.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 11,508 shares of the semiconductor company’s stock worth $114,000 after acquiring an additional 10,476 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Magnachip Semiconductor during the 3rd quarter worth approximately $123,000. Trexquant Investment LP bought a new position in shares of Magnachip Semiconductor during the 3rd quarter worth approximately $125,000. Algert Global LLC bought a new position in shares of Magnachip Semiconductor during the 2nd quarter worth approximately $211,000. Finally, Engineers Gate Manager LP bought a new position in shares of Magnachip Semiconductor during the 3rd quarter worth approximately $206,000. Institutional investors own 89.66% of the company’s stock.

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About Magnachip Semiconductor (NYSE:MX)

MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.

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