Magnachip Semiconductor (NYSE:MX) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Magnachip Semiconductor (NYSE:MXGet Rating) from a buy rating to a hold rating in a research note published on Monday morning.

Several other research analysts have also commented on the company. Zacks Investment Research upgraded Magnachip Semiconductor from a strong sell rating to a hold rating in a research report on Thursday, March 10th. Needham & Company LLC restated a buy rating and set a $25.00 target price on shares of Magnachip Semiconductor in a research report on Wednesday, May 4th. Finally, Roth Capital restated a buy rating on shares of Magnachip Semiconductor in a research report on Wednesday, May 4th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Buy and a consensus price target of $23.00.

MX opened at $16.02 on Monday. The firm has a market cap of $719.20 million, a P/E ratio of 10.34, a P/E/G ratio of 0.79 and a beta of 0.95. Magnachip Semiconductor has a 12 month low of $14.66 and a 12 month high of $26.90. The stock has a 50-day moving average of $16.67 and a 200 day moving average of $17.96.

Magnachip Semiconductor (NYSE:MXGet Rating) last released its quarterly earnings results on Tuesday, May 3rd. The semiconductor company reported $0.28 EPS for the quarter, topping the consensus estimate 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 last year, the company earned $0.18 earnings per share. Analysts predict that Magnachip Semiconductor will post 0.82 earnings per share for the current year.

In other news, insider Woung Moo Lee sold 7,000 shares of Magnachip Semiconductor stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $18.58, for a total transaction of $130,060.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Young-Joon Kim purchased 5,460 shares of the firm’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 disclosure for this purchase can be found here. 4.10% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. PenderFund Capital Management Ltd. bought a new position in Magnachip Semiconductor in the fourth quarter worth approximately $56,000. Ancora Advisors LLC raised its stake in Magnachip Semiconductor by 50.0% in the third quarter. Ancora Advisors LLC now owns 3,000 shares of the semiconductor company’s stock worth $53,000 after buying an additional 1,000 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Magnachip Semiconductor in the fourth quarter worth approximately $230,000. Shay Capital LLC raised its stake in Magnachip Semiconductor by 6.9% in the fourth quarter. Shay Capital LLC now owns 11,280 shares of the semiconductor company’s stock worth $237,000 after buying an additional 732 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Magnachip Semiconductor by 168.3% in the fourth quarter. Wells Fargo & Company MN now owns 11,684 shares of the semiconductor company’s stock worth $245,000 after buying an additional 7,329 shares in the last quarter. 70.88% of the stock is owned by hedge funds and other institutional investors.

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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