According to Zacks, “MagnaChip Semiconductor Corporation operates as a designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications. The Company operates through three key segments: Display Solutions, Power Solutions and Semiconductor Manufacturing Services. Products offered by MagnaChip through its Display Solutions segment includes source and gate drivers and timing controllers that cover a wide range of flat panel displays used in LCD, light emitting diode, or LED, and 3D televisions and displays, mobile PCs and mobile communications and entertainment devices. The Power Solutions products include discrete and integrated circuit solutions for power management in high-volume consumer applications. Semiconductor Manufacturing Services segment provides specialty analog and mixed-signal foundry services for fabless semiconductor companies. MagnaChip Semiconductor Corporation is headquartered in Chungbuk, South Korea. “
MX has been the subject of several other research reports. ValuEngine upgraded shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating in a research note on Tuesday, April 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Magnachip Semiconductor in a research note on Thursday, January 24th. Citigroup set a $9.00 price objective on shares of Magnachip Semiconductor and gave the company a “hold” rating in a research note on Thursday, May 2nd. Finally, TheStreet downgraded shares of Magnachip Semiconductor from a “c” rating to a “d+” rating in a research report on Friday, February 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $10.50.
NYSE:MX opened at $9.56 on Wednesday. The stock has a market capitalization of $326.16 million, a price-to-earnings ratio of 13.46 and a beta of 0.58. Magnachip Semiconductor has a 52 week low of $5.75 and a 52 week high of $13.06.
Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported ($0.58) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.58). The firm had revenue of $157.40 million during the quarter, compared to analyst estimates of $152.50 million. Magnachip Semiconductor had a negative net margin of 5.49% and a negative return on equity of 20.36%. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. During the same quarter last year, the business posted $0.04 EPS. As a group, equities research analysts forecast that Magnachip Semiconductor will post -0.87 earnings per share for the current year.
Several institutional investors have recently added to or reduced their stakes in the company. Evermore Global Advisors LLC grew its position in shares of Magnachip Semiconductor by 0.7% during the 4th quarter. Evermore Global Advisors LLC now owns 3,238,956 shares of the semiconductor company’s stock valued at $20,114,000 after acquiring an additional 22,200 shares during the period. Morgan Stanley grew its position in shares of Magnachip Semiconductor by 8.6% during the 3rd quarter. Morgan Stanley now owns 1,580,730 shares of the semiconductor company’s stock valued at $15,649,000 after acquiring an additional 125,488 shares during the period. Toronado Partners LLC bought a new position in shares of Magnachip Semiconductor during the 4th quarter valued at approximately $7,459,000. Federated Investors Inc. PA grew its position in shares of Magnachip Semiconductor by 34.8% during the 1st quarter. Federated Investors Inc. PA now owns 1,025,000 shares of the semiconductor company’s stock valued at $7,585,000 after acquiring an additional 264,800 shares during the period. Finally, Millennium Management LLC grew its position in shares of Magnachip Semiconductor by 26.6% during the 4th quarter. Millennium Management LLC now owns 511,951 shares of the semiconductor company’s stock valued at $3,179,000 after acquiring an additional 107,725 shares during the period. 89.28% of the stock is owned by hedge funds and other institutional investors.
About Magnachip Semiconductor
MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.
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