Magnachip Semiconductor (MX) Stock Rating Upgraded by TheStreet

Magnachip Semiconductor (NYSE:MX) was upgraded by equities researchers at TheStreet from a “d” rating to a “c” rating in a note issued to investors on Wednesday.

MX has been the topic of several other reports. Needham & Company LLC restated a “buy” rating and set a $15.00 price target on shares of Magnachip Semiconductor in a report on Thursday, November 2nd. Zacks Investment Research cut shares of Magnachip Semiconductor from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Finally, ValuEngine cut shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.67.

Magnachip Semiconductor (NYSE:MX) traded down $0.85 during trading on Wednesday, hitting $9.00. 2,440,000 shares of the stock traded hands, compared to its average volume of 549,086. The company has a debt-to-equity ratio of -4.96, a quick ratio of 1.96 and a current ratio of 2.42. Magnachip Semiconductor has a fifty-two week low of $7.00 and a fifty-two week high of $13.40. The stock has a market cap of $359.14, a PE ratio of 4.84 and a beta of -0.04.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.23 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.01). Magnachip Semiconductor had a net margin of 12.50% and a negative return on equity of 40.94%. The company had revenue of $174.58 million for the quarter, compared to analysts’ expectations of $174.00 million. During the same quarter in the prior year, the firm earned $0.04 earnings per share. The company’s revenue was down 1.2% on a year-over-year basis. research analysts anticipate that Magnachip Semiconductor will post 1 earnings per share for the current year.

In related news, major shareholder Brigade Leveraged Capital Stru sold 25,294 shares of the company’s stock in a transaction on Friday, January 26th. The shares were sold at an average price of $12.75, for a total value of $322,498.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.80% of the company’s stock.

Large investors have recently modified their holdings of the stock. Rubric Capital Management LP boosted its holdings in Magnachip Semiconductor by 16.9% in the third quarter. Rubric Capital Management LP now owns 2,250,500 shares of the semiconductor company’s stock worth $25,543,000 after purchasing an additional 325,500 shares in the last quarter. Evermore Global Advisors LLC boosted its holdings in Magnachip Semiconductor by 34.1% in the third quarter. Evermore Global Advisors LLC now owns 3,125,620 shares of the semiconductor company’s stock worth $35,476,000 after purchasing an additional 794,415 shares in the last quarter. Russell Investments Group Ltd. bought a new stake in Magnachip Semiconductor during the third quarter valued at about $2,723,000. Oaktree Capital Management LP boosted its holdings in Magnachip Semiconductor by 44.9% during the third quarter. Oaktree Capital Management LP now owns 2,340,000 shares of the semiconductor company’s stock valued at $26,559,000 after acquiring an additional 725,000 shares during the period. Finally, Luzich Partners LLC boosted its holdings in Magnachip Semiconductor by 19.1% during the third quarter. Luzich Partners LLC now owns 750,092 shares of the semiconductor company’s stock valued at $8,514,000 after acquiring an additional 120,436 shares during the period. Hedge funds and other institutional investors own 90.65% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Magnachip Semiconductor (MX) Stock Rating Upgraded by TheStreet” was posted by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2018/02/10/magnachip-semiconductor-mx-stock-rating-upgraded-by-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.

Leave a Reply