TheStreet Downgrades MagnaChip Semiconductor Corporation (MX) to D
MagnaChip Semiconductor Corporation (NYSE:MX) was downgraded by equities researchers at TheStreet from a “c-” rating to a “d” rating in a report released on Thursday.
Several other brokerages have also recently issued reports on MX. Citigroup Inc. upped their price objective on MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. Zacks Investment Research raised MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a report on Thursday, August 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of MagnaChip Semiconductor Corporation in a report on Friday, September 8th. BidaskClub raised MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Finally, ValuEngine cut MagnaChip Semiconductor Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $13.00.
MagnaChip Semiconductor Corporation (NYSE MX) opened at $10.80 on Thursday. The company has a debt-to-equity ratio of -4.29, a current ratio of 2.25 and a quick ratio of 1.80. MagnaChip Semiconductor Corporation has a twelve month low of $5.20 and a twelve month high of $12.75.
MagnaChip Semiconductor Corporation (NYSE:MX) last posted its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.17. The business had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $165.00 million. The firm’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.05) earnings per share. equities research analysts predict that MagnaChip Semiconductor Corporation will post 0.71 EPS for the current year.
In related news, Director Camillo Martino bought 10,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were purchased at an average price of $10.25 per share, with a total value of $102,500.00. Following the transaction, the director now owns 31,916 shares in the company, valued at approximately $327,139. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Marc Lasry sold 4,088,978 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The shares were 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 hedge funds and other institutional investors have recently added to or reduced their stakes in MX. Northern Trust Corp bought a new position in shares of MagnaChip Semiconductor Corporation during the 2nd quarter valued at approximately $111,000. Highbridge Capital Management LLC bought a new position in shares of MagnaChip Semiconductor Corporation during the 1st quarter valued at approximately $127,000. Goldman Sachs Group Inc. bought a new position in MagnaChip Semiconductor Corporation in the 2nd quarter valued at $148,000. State Street Corp grew its position in MagnaChip Semiconductor Corporation by 1.5% in the 2nd quarter. State Street Corp now owns 40,222 shares of the semiconductor company’s stock valued at $394,000 after acquiring an additional 606 shares during the last quarter. Finally, Granite Point Capital Management L.P. grew its position in MagnaChip Semiconductor Corporation by 35.9% in the 2nd quarter. Granite Point Capital Management L.P. now owns 40,781 shares of the semiconductor company’s stock valued at $400,000 after acquiring an additional 10,781 shares during the last quarter. 94.11% of the stock is currently 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.
Receive News & Ratings for MagnaChip Semiconductor Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MagnaChip Semiconductor Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.