Magnachip Semiconductor (NYSE:MX) Stock Rating Reaffirmed by Roth Capital

Magnachip Semiconductor (NYSE:MXGet Rating)‘s stock had its “buy” rating reiterated by investment analysts at Roth Capital in a research note issued on Wednesday, Zacks.com reports.

Several other research analysts have also recently weighed in on MX. Needham & Company LLC reiterated a “buy” rating and set a $25.00 price objective on shares of Magnachip Semiconductor in a research report on Wednesday. StockNews.com started coverage on Magnachip Semiconductor in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Zacks Investment Research raised Magnachip Semiconductor from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 10th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $23.00.

MX opened at $18.09 on Wednesday. Magnachip Semiconductor has a 1-year low of $14.66 and a 1-year high of $26.90. The stock’s fifty day simple moving average is $16.72 and its 200 day simple moving average is $17.97. The stock has a market cap of $812.06 million, a PE ratio of 11.67, a price-to-earnings-growth ratio of 0.82 and a beta of 0.95.

Magnachip Semiconductor (NYSE:MXGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The semiconductor company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.04. Magnachip Semiconductor had a return on equity of 10.76% and a net margin of 16.19%. During the same period in the previous year, the firm posted $0.18 EPS. Analysts predict that Magnachip Semiconductor will post 0.82 earnings per share for the current year.

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

Large investors have recently made changes to their positions in the stock. Ancora Advisors LLC boosted its position in shares of 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 last quarter. PenderFund Capital Management Ltd. purchased a new position in Magnachip Semiconductor in the fourth quarter worth $56,000. SkyView Investment Advisors LLC purchased a new position in Magnachip Semiconductor in the third quarter worth $220,000. AlphaCrest Capital Management LLC purchased a new position in Magnachip Semiconductor in the third quarter worth $221,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Magnachip Semiconductor in the fourth quarter worth $230,000. 70.88% of the stock is currently owned by institutional investors.

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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