MagnaChip Semiconductor Corporation (MX) to Release Earnings on Wednesday
MagnaChip Semiconductor Corporation (NYSE:MX) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, November 1st. Analysts expect MagnaChip Semiconductor Corporation to post earnings of $0.24 per share for the quarter.
MagnaChip Semiconductor Corporation (NYSE:MX) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.17. The firm had revenue of $166.70 million for the quarter, compared to the consensus estimate of $165.00 million. MagnaChip Semiconductor Corporation’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the business posted ($0.05) EPS. On average, analysts expect MagnaChip Semiconductor Corporation to post $0.71 EPS for the current fiscal year and $0.93 EPS for the next fiscal year.
Shares of MagnaChip Semiconductor Corporation (NYSE:MX) opened at 10.25 on Wednesday. The company’s 50-day moving average price is $11.15 and its 200-day moving average price is $10.17. MagnaChip Semiconductor Corporation has a 12 month low of $5.20 and a 12 month high of $12.75. The firm has a market cap of $348.87 million, a P/E ratio of 22.38 and a beta of -0.33.
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MX has been the topic of a number of analyst reports. Zacks Investment Research cut shares of MagnaChip Semiconductor Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Needham & Company LLC reissued a “buy” rating and set a $13.00 target price (up previously from $10.00) on shares of MagnaChip Semiconductor Corporation in a report on Thursday, July 13th. BidaskClub raised shares of MagnaChip Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Citigroup Inc. boosted their target price on shares of MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the company a “neutral” rating in a report on Monday, August 7th. Finally, ValuEngine cut shares of MagnaChip Semiconductor Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $13.00.
In other news, Director Tavakoli Nader purchased 39,100 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were purchased at an average price of $10.67 per share, with a total value of $417,197.00. Following the completion of the acquisition, the director now owns 67,686 shares in the company, valued at approximately $722,209.62. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Marc Lasry sold 4,088,978 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $10.98, for a total transaction of $44,896,978.44. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.
A hedge fund recently bought a new stake in MagnaChip Semiconductor Corporation stock. Northern Trust Corp purchased a new position in MagnaChip Semiconductor Corporation (NYSE:MX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,378 shares of the semiconductor company’s stock, valued at approximately $111,000. Hedge funds and other institutional investors own 93.85% of the company’s stock.
About MagnaChip Semiconductor Corporation
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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