Equities research analysts forecast that Magnachip Semiconductor Co. (NYSE:MX – Get Rating) will report earnings of $0.25 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Magnachip Semiconductor’s earnings, with estimates ranging from $0.24 to $0.26. Magnachip Semiconductor reported earnings of $0.22 per share in the same quarter last year, which suggests a positive year over year growth rate of 13.6%. The business is scheduled to announce its next earnings results after the market closes on Monday, January 1st.
According to Zacks, analysts expect that Magnachip Semiconductor will report full year earnings of $0.99 per share for the current fiscal year, with EPS estimates ranging from $0.96 to $1.02. For the next financial year, analysts forecast that the business will report earnings of $1.59 per share, with EPS estimates ranging from $1.52 to $1.65. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Magnachip Semiconductor.
Magnachip Semiconductor (NYSE:MX – Get Rating) last issued its quarterly earnings data on Wednesday, February 16th. The semiconductor company reported $0.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.08. Magnachip Semiconductor had a net margin of 11.96% and a return on equity of 10.03%. The business had revenue of $110.34 million during the quarter, compared to analyst estimates of $121.15 million. During the same period last year, the business posted $0.37 earnings per share.
Shares of NYSE MX traded down $0.03 on Friday, reaching $15.34. 443 shares of the company’s stock traded hands, compared to its average volume of 602,276. Magnachip Semiconductor has a 12 month low of $14.68 and a 12 month high of $26.90. The business’s 50 day simple moving average is $16.91 and its two-hundred day simple moving average is $17.98. The company has a market cap of $688.67 million, a price-to-earnings ratio of 13.33, a price-to-earnings-growth ratio of 0.68 and a beta of 1.08.
In related news, 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 transaction of $130,060.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Young-Joon Kim bought 5,460 shares of the stock in a transaction on Thursday, February 24th. The stock was purchased at an average price of $17.37 per share, with a total value of $94,840.20. The disclosure for this purchase can be found here. Company insiders own 4.10% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Water Island Capital LLC lifted its position in shares of Magnachip Semiconductor by 118.5% in the third quarter. Water Island Capital LLC now owns 1,187,839 shares of the semiconductor company’s stock valued at $21,096,000 after acquiring an additional 644,161 shares in the last quarter. Toronado Partners LLC increased its stake in Magnachip Semiconductor by 23.0% during the third quarter. Toronado Partners LLC now owns 2,046,979 shares of the semiconductor company’s stock worth $36,354,000 after acquiring an additional 383,205 shares during the last quarter. Oaktree Capital Management LP increased its stake in Magnachip Semiconductor by 14.6% during the fourth quarter. Oaktree Capital Management LP now owns 2,300,000 shares of the semiconductor company’s stock worth $48,231,000 after acquiring an additional 293,463 shares during the last quarter. Inherent Group LP increased its stake in Magnachip Semiconductor by 124.5% during the fourth quarter. Inherent Group LP now owns 507,196 shares of the semiconductor company’s stock worth $10,636,000 after acquiring an additional 281,323 shares during the last quarter. Finally, Norges Bank acquired a new stake in Magnachip Semiconductor during the fourth quarter worth $5,591,000. 74.97% of the stock is currently owned by institutional investors and hedge funds.
Magnachip Semiconductor Company Profile (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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