MagnaChip Semiconductor Corporation (NYSE:MX)’s share price rose 2.9% during mid-day trading on Friday . The company traded as high as $11.90 and last traded at $10.70. Approximately 552,653 shares traded hands during mid-day trading, an increase of 70% from the average daily volume of 324,143 shares. The stock had previously closed at $10.40.

MX has been the subject of a number of recent research reports. BidaskClub raised MagnaChip Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a report on Thursday, July 13th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of MagnaChip Semiconductor Corporation in a research note on Friday, September 8th. Zacks Investment Research cut MagnaChip Semiconductor Corporation from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 4th. ValuEngine cut MagnaChip Semiconductor Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, Citigroup Inc. increased their price target on MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $13.00.

The company has a debt-to-equity ratio of -4.29, a quick ratio of 1.80 and a current ratio of 2.25.

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, beating the consensus estimate of $0.04 by $0.17. The company had revenue of $166.70 million during the quarter, compared to analyst estimates of $165.00 million. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. analysts forecast that MagnaChip Semiconductor Corporation will post 0.71 earnings per share for the current fiscal year.

In other MagnaChip Semiconductor Corporation news, Director Tavakoli Nader bought 39,100 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average price of $10.67 per share, with a total value of $417,197.00. Following the completion of the purchase, the director now directly owns 67,686 shares of the company’s stock, valued at approximately $722,209.62. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Camillo Martino bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average cost of $10.25 per share, with a total value of $102,500.00. Following the purchase, the director now directly owns 31,916 shares of the company’s stock, valued at $327,139. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MX. Alliancebernstein L.P. acquired a new stake in MagnaChip Semiconductor Corporation during the second quarter worth approximately $7,774,000. Evermore Global Advisors LLC grew its stake in MagnaChip Semiconductor Corporation by 46.8% during the second quarter. Evermore Global Advisors LLC now owns 2,331,205 shares of the semiconductor company’s stock worth $22,846,000 after purchasing an additional 743,575 shares during the period. Morgan Stanley grew its stake in MagnaChip Semiconductor Corporation by 91.0% during the first quarter. Morgan Stanley now owns 916,194 shares of the semiconductor company’s stock worth $8,749,000 after purchasing an additional 436,509 shares during the period. Hood River Capital Management LLC grew its stake in MagnaChip Semiconductor Corporation by 24.0% during the second quarter. Hood River Capital Management LLC now owns 1,570,550 shares of the semiconductor company’s stock worth $15,391,000 after purchasing an additional 303,818 shares during the period. Finally, Rubric Capital Management LP grew its stake in MagnaChip Semiconductor Corporation by 13.2% during the second quarter. Rubric Capital Management LP now owns 1,925,000 shares of the semiconductor company’s stock worth $18,865,000 after purchasing an additional 225,000 shares during the period. 94.17% of the stock is owned by institutional investors and hedge funds.

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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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