Magnachip Semiconductor (NYSE:MX) Stock Rating Cut to Sell at Wall Street Zen

Magnachip Semiconductor (NYSE:MX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Magnachip Semiconductor in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Magnachip Semiconductor currently has an average rating of “Reduce”.

Magnachip Semiconductor Price Performance

Shares of NYSE MX opened at $2.35 on Friday. Magnachip Semiconductor has a 1-year low of $1.92 and a 1-year high of $9.86. The stock has a fifty day moving average price of $2.93 and a 200 day moving average price of $3.64. The company has a market cap of $89.32 million, a PE ratio of -2.86 and a beta of 1.72. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.43 and a quick ratio of 1.93.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings data on Wednesday, November 4th. The semiconductor company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.20) by ($0.09). The company had revenue of $43.98 million during the quarter, compared to analyst estimates of $47.50 million. Magnachip Semiconductor had a negative net margin of 17.26% and a negative return on equity of 5.84%.

Insider Activity

In other news, CEO Chae Lee bought 20,000 shares of the stock in a transaction on Thursday, September 24th. The stock was acquired at an average cost of $3.22 per share, for a total transaction of $64,400.00. Following the acquisition, the chief executive officer owned 388,750 shares of the company’s stock, valued at $1,251,775. This represents a 5.42% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 10.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Magnachip Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FourWorld Capital Management LLC raised its stake in Magnachip Semiconductor by 667.1% during the 1st quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company’s stock valued at $4,642,000 after purchasing an additional 1,441,593 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Magnachip Semiconductor in the second quarter worth $1,953,000. GSA Capital Partners LLP bought a new stake in Magnachip Semiconductor during the 2nd quarter valued at about $946,000. Almanack Investment Partners LLC. acquired a new position in shares of Magnachip Semiconductor during the 3rd quarter worth approximately $626,000. Finally, TD Waterhouse Canada Inc. purchased a new position in shares of Magnachip Semiconductor in the second quarter valued at approximately $574,000. 74.26% of the stock is currently owned by hedge funds and other institutional investors.

About Magnachip Semiconductor

Magnachip Semiconductor Corporation (NYSE: MX) is a semiconductor company that designs and supplies analog and mixed-signal products. Its portfolio is focused primarily on power semiconductors and display solutions used in consumer electronics, communications equipment, automotive applications, industrial systems and other electronic devices.

The company’s power products include metal-oxide-semiconductor field-effect transistors (MOSFETs), insulated-gate bipolar transistors (IGBTs), power integrated circuits and other discrete semiconductor devices designed to manage power conversion, distribution and efficiency.