Magnachip Semiconductor (NYSE:MX) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Magnachip Semiconductor (NYSE:MX) from a sell rating to a hold rating in a research note issued to investors on Thursday.

MX has been the subject of a number of other research reports. Barclays upgraded Magnachip Semiconductor to a hold rating in a research note on Tuesday, September 10th. Needham & Company LLC lowered their target price on Magnachip Semiconductor from $8.00 to $7.00 and set a buy rating for the company in a research note on Thursday, August 1st.

Magnachip Semiconductor Stock Performance

NYSE MX opened at $4.70 on Thursday. The business’s 50-day moving average price is $4.83 and its 200 day moving average price is $5.00. Magnachip Semiconductor has a twelve month low of $4.25 and a twelve month high of $8.50. The company has a market capitalization of $179.86 million, a PE ratio of -6.03 and a beta of 0.64. The company has a current ratio of 5.03, a quick ratio of 4.34 and a debt-to-equity ratio of 0.09.

Magnachip Semiconductor (NYSE:MX) last released its earnings results on Wednesday, July 31st. The semiconductor company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.13. The firm had revenue of $53.17 million for the quarter, compared to the consensus estimate of $51.45 million. Magnachip Semiconductor had a negative return on equity of 10.29% and a negative net margin of 18.49%. On average, research analysts predict that Magnachip Semiconductor will post -1.13 earnings per share for the current year.

Institutional Investors Weigh In On Magnachip Semiconductor

A number of large investors have recently modified their holdings of MX. Allspring Global Investments Holdings LLC grew its stake in Magnachip Semiconductor by 177.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 2,994 shares in the last quarter. Founders Capital Management acquired a new stake in Magnachip Semiconductor during the 2nd quarter valued at approximately $29,000. Citizens Financial Group Inc. RI acquired a new stake in Magnachip Semiconductor during the 1st quarter valued at approximately $89,000. Algert Global LLC grew its stake in Magnachip Semiconductor by 15.0% during the 2nd quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock valued at $92,000 after purchasing an additional 2,470 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in Magnachip Semiconductor during the 4th quarter valued at approximately $167,000. Institutional investors and hedge funds own 74.26% of the company’s stock.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.