Magnachip Semiconductor Corp (NYSE:MX) insider Jonathan W. Kim acquired 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average cost of $9.07 per share, with a total value of $72,560.00. Following the purchase, the insider now owns 62,675 shares in the company, valued at $568,462.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Magnachip Semiconductor Corp (MX) traded up $0.45 during mid-day trading on Wednesday, hitting $9.45. 696,385 shares of the stock traded hands, compared to its average volume of 663,293. The company has a market capitalization of $314.54, a P/E ratio of 4.85 and a beta of -0.04. Magnachip Semiconductor Corp has a 12-month low of $7.15 and a 12-month high of $13.40. The company has a debt-to-equity ratio of -4.96, a current ratio of 2.42 and a quick ratio of 1.96.
Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). The business had revenue of $174.58 million for the quarter, compared to the consensus estimate of $174.00 million. Magnachip Semiconductor had a net margin of 12.50% and a negative return on equity of 40.94%. Magnachip Semiconductor’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. sell-side analysts expect that Magnachip Semiconductor Corp will post 0.75 earnings per share for the current year.
Several equities analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Magnachip Semiconductor in a research note on Thursday, November 2nd. Zacks Investment Research raised shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, November 7th. ValuEngine raised shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, TheStreet raised shares of Magnachip Semiconductor from a “d” rating to a “c” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Magnachip Semiconductor presently has an average rating of “Hold” and a consensus price target of $12.67.
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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.
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