Magnachip Semiconductor Corp. (NYSE:MX) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.
According to Zacks, “MagnaChip Semiconductor Corporation operates as a designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications. The Company operates through three key segments: Display Solutions, Power Solutions and Semiconductor Manufacturing Services. Products offered by MagnaChip through its Display Solutions segment includes source and gate drivers and timing controllers that cover a wide range of flat panel displays used in LCD, light emitting diode, or LED, and 3D televisions and displays, mobile PCs and mobile communications and entertainment devices. The Power Solutions products include discrete and integrated circuit solutions for power management in high-volume consumer applications. Semiconductor Manufacturing Services segment provides specialty analog and mixed-signal foundry services for fabless semiconductor companies. MagnaChip Semiconductor Corporation is headquartered in Chungbuk, South Korea. “
Separately, Roth Capital assumed coverage on Magnachip Semiconductor Corp. in a report on Wednesday, September 28th. They set a “buy” rating and a $10.00 price target for the company.
Magnachip Semiconductor Corp. (NYSE:MX) traded up 2.21% during trading on Tuesday, reaching $6.95. The company’s stock had a trading volume of 197,730 shares. The stock has a market cap of $243.24 million, a price-to-earnings ratio of 5.65 and a beta of 0.41. The firm has a 50 day moving average price of $6.96 and a 200-day moving average price of $6.74. Magnachip Semiconductor Corp. has a 52-week low of $3.10 and a 52-week high of $9.17.
Magnachip Semiconductor Corp. (NYSE:MX) last announced its quarterly earnings data on Thursday, October 27th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.07. The company earned $192.30 million during the quarter, compared to analyst estimates of $183 million. Magnachip Semiconductor Corp. had a net margin of 6.52% and a negative return on equity of 44.29%. The firm’s revenue was up 24.5% on a year-over-year basis. On average, analysts expect that Magnachip Semiconductor Corp. will post ($0.23) earnings per share for the current year.
Several institutional investors have recently bought and sold shares of MX. Tower Research Capital LLC TRC boosted its position in Magnachip Semiconductor Corp. by 123.9% in the third quarter. Tower Research Capital LLC TRC now owns 12,189 shares of the company’s stock worth $101,000 after buying an additional 6,745 shares during the period. Highbridge Capital Management LLC purchased a new stake in shares of Magnachip Semiconductor Corp. during the third quarter worth $101,000. Nine Chapters Capital Management LLC purchased a new stake in shares of Magnachip Semiconductor Corp. during the third quarter worth $105,000. Smith Asset Management Group LP purchased a new stake in shares of Magnachip Semiconductor Corp. during the second quarter worth $129,000. Finally, Picton Mahoney Asset Management purchased a new stake in shares of Magnachip Semiconductor Corp. during the second quarter worth $133,000. 76.16% of the stock is owned by institutional investors.
Magnachip Semiconductor Corp. Company Profile
MagnaChip Semiconductor Corporation is a holding company, which designs and manufactures analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of things (IoT) applications. The Company provides technology platforms for analog, mixed-signal, power, high voltage, non-volatile memory and radio frequency applications.