$106.15 Million in Sales Expected for Magnachip Semiconductor Co. (NYSE:MX) This Quarter

Wall Street brokerages predict that Magnachip Semiconductor Co. (NYSE:MXGet Rating) will report $106.15 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Magnachip Semiconductor’s earnings. The lowest sales estimate is $105.00 million and the highest is $107.30 million. Magnachip Semiconductor posted sales of $123.02 million in the same quarter last year, which would indicate a negative year-over-year growth rate of 13.7%. The business is scheduled to report its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Magnachip Semiconductor will report full year sales of $481.50 million for the current fiscal year, with estimates ranging from $480.00 million to $483.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $643.30 million, with estimates ranging from $611.60 million to $675.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Magnachip Semiconductor.

Magnachip Semiconductor (NYSE:MXGet Rating) last released its quarterly earnings results on Wednesday, February 16th. The semiconductor company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.08. The firm had revenue of $110.34 million during the quarter, compared to analysts’ expectations of $121.15 million. Magnachip Semiconductor had a return on equity of 10.03% and a net margin of 11.96%. During the same quarter in the prior year, the business earned $0.37 EPS.

Several brokerages have recently commented on MX. Needham & Company LLC reiterated a “buy” rating and issued a $29.00 target price on shares of Magnachip Semiconductor in a research report on Wednesday, January 19th. Zacks Investment Research upgraded Magnachip Semiconductor from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 10th. Finally, StockNews.com began coverage on Magnachip Semiconductor in a research report on Thursday, March 31st. They issued a “buy” rating for the company.

In related news, insider Young-Joon Kim bought 5,460 shares of the business’s stock in a transaction dated Thursday, February 24th. The shares were bought at an average cost of $17.37 per share, with a total value of $94,840.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Woung Moo Lee sold 7,000 shares of the business’s stock in a transaction on Tuesday, February 22nd. The stock was sold at an average price of $18.58, for a total value of $130,060.00. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in MX. Ancora Advisors LLC raised its position in Magnachip Semiconductor by 50.0% during the third quarter. Ancora Advisors LLC now owns 3,000 shares of the semiconductor company’s stock valued at $53,000 after buying an additional 1,000 shares during the period. PenderFund Capital Management Ltd. acquired a new position in Magnachip Semiconductor during the fourth quarter valued at $56,000. SkyView Investment Advisors LLC acquired a new position in Magnachip Semiconductor during the third quarter valued at $220,000. AlphaCrest Capital Management LLC acquired a new position in Magnachip Semiconductor during the third quarter valued at $221,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Magnachip Semiconductor in the 4th quarter worth about $230,000. 74.97% of the stock is currently owned by institutional investors.

Shares of MX stock traded up $0.10 during mid-day trading on Friday, reaching $15.81. 349,952 shares of the company were exchanged, compared to its average volume of 435,563. The business’s 50 day simple moving average is $17.51 and its 200 day simple moving average is $18.16. The company has a market capitalization of $709.71 million, a P/E ratio of 13.63, a P/E/G ratio of 0.71 and a beta of 1.08. Magnachip Semiconductor has a fifty-two week low of $15.11 and a fifty-two week high of $26.90.

About Magnachip Semiconductor (Get Rating)

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, notebook PCs, monitors and liquid crystal displays, and micro light-emitting diode (LED) televisions.

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