Magnachip Semiconductor (NYSE:MX) PT Lowered to $8.00 at Roth Mkm

Magnachip Semiconductor (NYSE:MX) had its price target decreased by Roth Mkm from $10.00 to $8.00 in a report released on Friday, Benzinga reports. Roth Mkm currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also issued reports on MX. StockNews.com raised Magnachip Semiconductor from a sell rating to a hold rating in a research note on Saturday, March 9th. Needham & Company LLC dropped their price objective on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a buy rating on the stock in a report on Friday.

Magnachip Semiconductor Stock Performance

NYSE:MX opened at $5.16 on Friday. The company has a market capitalization of $197.42 million, a PE ratio of -6.62 and a beta of 0.77. Magnachip Semiconductor has a fifty-two week low of $4.70 and a fifty-two week high of $11.68. The company has a 50 day simple moving average of $5.38 and a two-hundred day simple moving average of $6.43.

Magnachip Semiconductor (NYSE:MX) last announced its earnings results on Wednesday, February 28th. The semiconductor company reported ($0.26) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. Magnachip Semiconductor had a negative net margin of 13.76% and a negative return on equity of 8.16%. The business had revenue of $50.82 million during the quarter, compared to the consensus estimate of $52.45 million. During the same quarter last year, the firm earned ($0.39) earnings per share. Research analysts predict that Magnachip Semiconductor will post -1.4 EPS for the current year.

Institutional Investors Weigh In On Magnachip Semiconductor

Hedge funds and other institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC grew its position in shares of Magnachip Semiconductor by 808.1% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,496 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 3,111 shares during the period. Quantbot Technologies LP bought a new position in Magnachip Semiconductor in the 3rd quarter worth about $36,000. Allspring Global Investments Holdings LLC increased its position in shares of Magnachip Semiconductor by 177.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 2,994 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Magnachip Semiconductor by 36.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,248 shares of the semiconductor company’s stock worth $84,000 after buying an additional 3,024 shares in the last quarter. Finally, J.W. Cole Advisors Inc. bought a new position in shares of Magnachip Semiconductor in the fourth quarter valued at approximately $105,000. 74.26% of the stock is owned by institutional investors.

Magnachip Semiconductor Company Profile

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, computing, 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, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.