Zacks Investment Research lowered shares of MagnaChip Semiconductor Corporation (NYSE:MX) from a strong-buy rating to a hold rating in a research report sent to investors on Wednesday morning.

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. “

Several other equities research analysts also recently weighed in on MX. BidaskClub raised MagnaChip Semiconductor Corporation from a hold rating to a buy rating in a report on Friday, August 25th. Citigroup Inc. raised their price target on MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the stock a neutral rating in a report on Monday, August 7th. Finally, Needham & Company LLC reissued a buy rating and issued a $15.00 price target on shares of MagnaChip Semiconductor Corporation in a report on Friday, September 8th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. MagnaChip Semiconductor Corporation presently has an average rating of Hold and a consensus target price of $13.00.

MagnaChip Semiconductor Corporation (NYSE:MX) traded up 0.87% during trading on Wednesday, reaching $11.60. 154,234 shares of the company’s stock traded hands. The company has a 50 day moving average of $11.26 and a 200 day moving average of $10.00. The firm has a market cap of $394.82 million, a price-to-earnings ratio of 25.33 and a beta of -0.33. MagnaChip Semiconductor Corporation has a one year low of $5.20 and a one year high of $12.75.

MagnaChip Semiconductor Corporation (NYSE:MX) last issued its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.17. The business had revenue of $166.70 million during the quarter, compared to analyst estimates of $165.00 million. MagnaChip Semiconductor Corporation’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.05) EPS. Equities research analysts predict that MagnaChip Semiconductor Corporation will post $0.78 EPS for the current year.

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In other news, Director Camillo Martino bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average price of $10.25 per share, with a total value of $102,500.00. Following the completion of the acquisition, the director now directly owns 31,916 shares of the company’s stock, valued at approximately $327,139. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marc Lasry sold 4,088,978 shares of MagnaChip Semiconductor Corporation stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $10.98, for a total value of $44,896,978.44. The disclosure for this sale can be found here. Insiders own 3.80% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in MX. Suntrust Banks Inc. acquired a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter worth about $101,000. JPMorgan Chase & Co. lifted its holdings in shares of MagnaChip Semiconductor Corporation by 157.0% during the first quarter. JPMorgan Chase & Co. now owns 57,058 shares of the semiconductor company’s stock worth $545,000 after purchasing an additional 34,859 shares during the period. ClariVest Asset Management LLC acquired a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter worth about $783,000. Menta Capital LLC acquired a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter worth about $535,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of MagnaChip Semiconductor Corporation by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 607,785 shares of the semiconductor company’s stock worth $5,804,000 after purchasing an additional 34,253 shares during the period. 93.50% of the stock is owned by hedge funds and other institutional investors.

MagnaChip Semiconductor Corporation Company Profile

MagnaChip Semiconductor Corporation is a designer and manufacturer of 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 (RF) applications.

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