Magnachip Semiconductor Corp (MX) Given Average Rating of “Hold” by Analysts

Shares of Magnachip Semiconductor Corp (NYSE:MX) have earned a consensus recommendation of “Hold” from the six brokerages that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $10.80.

A number of research firms recently issued reports on MX. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of Magnachip Semiconductor in a research report on Thursday, January 24th. Zacks Investment Research raised shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research report on Friday, February 15th. Finally, TheStreet downgraded shares of Magnachip Semiconductor from a “c” rating to a “d+” rating in a research report on Friday, February 15th.

Shares of NYSE MX traded down $0.02 on Friday, reaching $7.40. 338,455 shares of the company traded hands, compared to its average volume of 263,844. Magnachip Semiconductor has a fifty-two week low of $5.75 and a fifty-two week high of $13.06. The company has a market cap of $255.00 million, a P/E ratio of 10.58 and a beta of 0.51.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings data on Thursday, February 14th. The semiconductor company reported $0.10 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.16. Magnachip Semiconductor had a negative net margin of 0.52% and a negative return on equity of 110.27%. The company had revenue of $179.39 million during the quarter, compared to the consensus estimate of $176.50 million. During the same quarter in the prior year, the company posted $0.23 EPS. The company’s quarterly revenue was up 2.8% compared to the same quarter last year. On average, analysts expect that Magnachip Semiconductor will post -0.63 EPS for the current fiscal year.

In other Magnachip Semiconductor news, major shareholder Brigade Capital Management, Lp bought 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, January 9th. The stock was purchased at an average price of $6.82 per share, with a total value of $204,600.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 5.40% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of MX. Trexquant Investment LP purchased a new position in shares of Magnachip Semiconductor during the 3rd quarter valued at approximately $125,000. GSA Capital Partners LLP boosted its stake in shares of Magnachip Semiconductor by 24.1% during the 3rd quarter. GSA Capital Partners LLP now owns 141,100 shares of the semiconductor company’s stock valued at $1,397,000 after buying an additional 27,400 shares during the last quarter. 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 valued at $114,000 after buying an additional 10,476 shares during the last quarter. Algert Global LLC boosted its stake in shares of Magnachip Semiconductor by 582.3% during the 3rd quarter. Algert Global LLC now owns 140,617 shares of the semiconductor company’s stock valued at $1,392,000 after buying an additional 120,009 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Magnachip Semiconductor during the 3rd quarter valued at approximately $123,000. 89.32% of the stock is owned by institutional investors.

About Magnachip Semiconductor

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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