MagnaChip Semiconductor (MX) Posts Quarterly Earnings, Beats Estimates By $0.05 EPS
MagnaChip Semiconductor (NYSE:MX) released its earnings data on Tuesday. The company reported $0.76 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.71 by $0.05, American Banking News reports. The company had revenue of $217.82 million for the quarter, compared to the consensus estimate of $219.70 million. During the same quarter in the previous year, the company posted $0.81 earnings per share. The company’s revenue for the quarter was down 1.8% on a year-over-year basis.
MX has been the subject of a number of recent research reports. Analysts at Topeka Capital Markets raised their price target on shares of MagnaChip Semiconductor from $23.00 to $28.00 in a research note to investors on Tuesday, September 10th. They now have a “buy” rating on the stock. On the ratings front, analysts at Susquehanna raised their price target on shares of MagnaChip Semiconductor from $25.00 to $26.00 in a research note to investors on Tuesday, September 3rd. They now have a “positive” rating on the stock. Finally, analysts at Barclays raised their price target on shares of MagnaChip Semiconductor from $20.00 to $26.00 in a research note to investors on Tuesday, August 13th. They now have an “overweight” rating on the stock. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $28.25.
Shares of MagnaChip Semiconductor (NYSE:MX) traded down 3.68% on Tuesday, hitting $20.96. The stock had a trading volume of 978,241 shares. MagnaChip Semiconductor has a 52 week low of $10.85 and a 52 week high of $23.33. The stock has a 50-day moving average of $20.26 and a 200-day moving average of $17.81. The company has a market cap of $747.9 million and a price-to-earnings ratio of 4.62.
MagnaChip Semiconductor Corporation (NYSE:MX) is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer applications.
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