A number of other brokerages have also recently commented on MX. Citigroup cut BCE from a buy rating to a neutral rating in a report on Thursday, May 2nd. Zacks Investment Research cut Zai Lab from a buy rating to a hold rating in a report on Saturday, June 15th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $10.75.
Shares of MX stock opened at $10.27 on Friday. The stock has a market capitalization of $351.48 million, a P/E ratio of 14.46 and a beta of 0.84. The business’s 50 day simple moving average is $9.89. Magnachip Semiconductor has a 12-month low of $5.75 and a 12-month high of $13.06.
Magnachip Semiconductor (NYSE:MX) last issued its quarterly earnings results on Tuesday, April 30th. The semiconductor company reported ($0.58) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.58). Magnachip Semiconductor had a negative return on equity of 20.36% and a negative net margin of 5.49%. The company had revenue of $157.40 million for the quarter, compared to the consensus estimate of $152.50 million. During the same quarter in the prior year, the business posted $0.04 earnings per share. Magnachip Semiconductor’s revenue for the quarter was down 5.1% on a year-over-year basis. On average, research analysts forecast that Magnachip Semiconductor will post -0.31 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. BlackRock Inc. bought a new position in Magnachip Semiconductor in the fourth quarter worth $41,000. Two Sigma Investments LP raised its holdings in Magnachip Semiconductor by 4.4% in the fourth quarter. Two Sigma Investments LP now owns 75,075 shares of the semiconductor company’s stock worth $466,000 after purchasing an additional 3,197 shares in the last quarter. Worth Venture Partners LLC raised its holdings in Magnachip Semiconductor by 85.5% in the fourth quarter. Worth Venture Partners LLC now owns 111,300 shares of the semiconductor company’s stock worth $690,000 after purchasing an additional 51,300 shares in the last quarter. Millennium Management LLC raised its holdings in Magnachip Semiconductor by 26.6% in the fourth quarter. Millennium Management LLC now owns 511,951 shares of the semiconductor company’s stock worth $3,179,000 after purchasing an additional 107,725 shares in the last quarter. Finally, James Investment Research Inc. bought a new position in Magnachip Semiconductor in the first quarter worth $386,000. 87.64% of the stock is owned by institutional investors and hedge funds.
About Magnachip Semiconductor
MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.
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