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.

Other research analysts also recently issued research reports about the company. Needham & Company LLC reduced their target price on 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 Magnachip Semiconductor to a hold rating in a report on Tuesday, September 10th.

Magnachip Semiconductor Trading Down 0.2 %

NYSE:MX opened at $4.70 on Thursday. The company has a quick ratio of 4.34, a current ratio of 5.03 and a debt-to-equity ratio of 0.09. The business’s 50 day moving average is $4.83 and its two-hundred day moving average is $5.00. Magnachip Semiconductor has a 52 week low of $4.25 and a 52 week high of $8.50. The company has a market cap of $179.86 million, a PE ratio of -6.03 and a beta of 0.64.

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

Institutional Trading of Magnachip Semiconductor

Several hedge funds have recently made changes to their positions in the stock. Algert Global LLC lifted its holdings in shares of 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 during the last quarter. Allspring Global Investments Holdings LLC increased its position 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 valued at $26,000 after acquiring an additional 2,994 shares during the period. Founders Capital Management acquired a new stake in Magnachip Semiconductor in the 2nd quarter valued at approximately $29,000. American Century Companies Inc. increased its position in Magnachip Semiconductor by 13.4% in the 2nd quarter. American Century Companies Inc. now owns 57,173 shares of the semiconductor company’s stock valued at $278,000 after acquiring an additional 6,777 shares during the period. Finally, Quantbot Technologies LP increased its position in Magnachip Semiconductor by 28.8% in the 1st quarter. Quantbot Technologies LP now owns 43,326 shares of the semiconductor company’s stock valued at $242,000 after acquiring an additional 9,686 shares during the period. Institutional investors own 74.26% of the company’s stock.

About Magnachip Semiconductor

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.