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.

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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.

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