Magnachip Semiconductor (NYSE:MX) Posts Quarterly Earnings Results, Beats Estimates By $0.24 EPS

Magnachip Semiconductor (NYSE:MX) released its quarterly earnings data on Wednesday. The semiconductor company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.24, FiscalAI reports. Magnachip Semiconductor had a negative return on equity of 2.93% and a negative net margin of 18.84%.

Magnachip Semiconductor Stock Down 1.1%

Shares of NYSE MX traded down $0.03 during trading hours on Wednesday, hitting $2.69. The stock had a trading volume of 342,648 shares, compared to its average volume of 351,335. The firm’s 50-day moving average price is $2.85 and its two-hundred day moving average price is $2.88. Magnachip Semiconductor has a 52 week low of $2.18 and a 52 week high of $4.57. The company has a market capitalization of $96.79 million, a P/E ratio of -2.61 and a beta of 1.02. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.50 and a current ratio of 4.32.

Institutional Investors Weigh In On Magnachip Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in MX. LPL Financial LLC bought a new position in Magnachip Semiconductor during the fourth quarter worth $30,000. Sei Investments Co. bought a new stake in shares of Magnachip Semiconductor in the 2nd quarter valued at approximately $61,000. Quadrature Capital Ltd increased its position in shares of Magnachip Semiconductor by 57.0% during the 4th quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company’s stock worth $62,000 after purchasing an additional 8,863 shares in the last quarter. XTX Topco Ltd acquired a new stake in Magnachip Semiconductor during the 4th quarter valued at $65,000. Finally, Boothbay Fund Management LLC acquired a new position in Magnachip Semiconductor during the 4th quarter worth about $69,000. 74.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Magnachip Semiconductor in a research note on Thursday, January 22nd. Wall Street Zen lowered Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $5.50.

About Magnachip Semiconductor

Magnachip Semiconductor Inc is a fabless semiconductor company specializing in high-performance analog and mixed-signal solutions for the display, power management and lighting markets. Its core product portfolio includes display driver ICs for LCD and OLED panels, high-voltage MOSFETs, DC-DC converters, LED driver ICs and power management devices used in consumer electronics, mobile devices, industrial equipment and automotive applications.

Founded in 2004 as a spin-off from MagnaChip, Magnachip is incorporated in the United States with design and sales offices strategically located across North America, Europe and Asia.