Zacks: Analysts Anticipate Magnachip Semiconductor Co. (NYSE:MX) to Announce $0.21 EPS

Wall Street analysts expect Magnachip Semiconductor Co. (NYSE:MXGet Rating) to announce earnings of $0.21 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Magnachip Semiconductor’s earnings, with the highest EPS estimate coming in at $0.26 and the lowest estimate coming in at $0.15. Magnachip Semiconductor reported earnings per share of $0.15 during the same quarter last year, which suggests a positive year over year growth rate of 40%. The company is scheduled to report its next earnings report on Monday, January 1st.

On average, analysts expect that Magnachip Semiconductor will report full year earnings of $0.88 per share for the current financial year, with EPS estimates ranging from $0.75 to $1.01. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.53 per share, with EPS estimates ranging from $1.50 to $1.55. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that follow Magnachip Semiconductor.

Magnachip Semiconductor (NYSE:MXGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The semiconductor company reported $0.28 EPS 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 prior year, the firm earned $0.18 earnings per share.

A number of equities research analysts recently commented on MX shares. StockNews.com downgraded Magnachip Semiconductor from a “buy” rating to a “hold” rating in a report on Monday. Needham & Company LLC restated a “buy” rating and issued a $25.00 price target on shares of Magnachip Semiconductor in a report on Wednesday, May 4th. Roth Capital restated a “buy” rating on shares of Magnachip Semiconductor in a report on Wednesday, May 4th. Finally, Zacks Investment Research upgraded Magnachip Semiconductor from a “strong sell” rating to a “hold” rating in a report on Thursday, March 10th.

NYSE MX opened at $15.95 on Friday. The stock has a 50-day simple moving average of $16.60 and a 200 day simple moving average of $17.94. The company has a market capitalization of $716.06 million, a PE ratio of 10.29, 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.

In related news, insider Young-Joon Kim purchased 5,460 shares of Magnachip Semiconductor stock in a transaction that occurred on Thursday, February 24th. The stock was purchased at an average cost of $17.37 per share, with a total value of $94,840.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Woung Moo Lee sold 7,000 shares of the stock in a transaction that occurred on Tuesday, February 22nd. The shares were 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 owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of MX. Citigroup Inc. raised its stake in Magnachip Semiconductor by 95.2% in the first quarter. Citigroup Inc. now owns 1,503 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 733 shares during the period. 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 valued at $53,000 after buying an additional 1,000 shares during the period. PenderFund Capital Management Ltd. bought a new stake in Magnachip Semiconductor in the fourth quarter valued at approximately $56,000. SkyView Investment Advisors LLC bought a new stake in Magnachip Semiconductor in the third quarter valued at approximately $220,000. Finally, AlphaCrest Capital Management LLC bought a new stake in Magnachip Semiconductor in the third quarter valued at approximately $221,000. 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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