StockNews.com Lowers Magnachip Semiconductor (NYSE:MX) to Sell

StockNews.com cut shares of Magnachip Semiconductor (NYSE:MX) from a hold rating to a sell rating in a research note published on Tuesday.

A number of other equities analysts also recently issued reports on the stock. Needham & Company LLC dropped their price objective on shares of Magnachip Semiconductor from $8.00 to $7.00 and set a buy rating on the stock in a report on Thursday, August 1st. Barclays raised shares of Magnachip Semiconductor to a hold rating in a research report on Tuesday, September 10th.

Magnachip Semiconductor Price Performance

Shares of MX opened at $4.64 on Tuesday. The firm has a fifty day simple moving average of $4.88 and a two-hundred day simple moving average of $5.04. The firm has a market cap of $177.56 million, a PE ratio of -5.95 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 has a 1-year low of $4.25 and a 1-year high of $8.50.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. The company had revenue of $53.17 million during the quarter, compared to analysts’ expectations 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, equities analysts anticipate that Magnachip Semiconductor will post -1.13 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in MX. Allspring Global Investments Holdings LLC increased its stake in Magnachip Semiconductor by 177.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock worth $26,000 after buying an additional 2,994 shares in the last quarter. Founders Capital Management bought a new position in shares of Magnachip Semiconductor in the second quarter worth about $29,000. Quest Partners LLC purchased a new stake in shares of Magnachip Semiconductor during the fourth quarter worth about $114,000. Citizens Financial Group Inc. RI bought a new stake in Magnachip Semiconductor during the 1st quarter valued at approximately $89,000. Finally, Algert Global LLC lifted its holdings in Magnachip Semiconductor by 15.0% in the 2nd quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock worth $92,000 after purchasing an additional 2,470 shares in the last quarter. 74.26% of the stock is currently owned by institutional investors.

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.