Shares of MagnaChip Semiconductor Corporation (NYSE:MX) have received an average recommendation of “Buy” from the seven analysts that are presently covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $12.25.
A number of research firms recently issued reports on MX. Zacks Investment Research upgraded shares of MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective for the company in a report on Thursday, August 10th. Needham & Company LLC restated a “buy” rating and set a $13.00 price objective (up previously from $10.00) on shares of MagnaChip Semiconductor Corporation in a report on Thursday, July 13th. BidaskClub downgraded shares of MagnaChip Semiconductor Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Citigroup Inc. raised their price objective on shares of MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the stock a “neutral” rating in a report on Monday, August 7th. Finally, TheStreet upgraded shares of MagnaChip Semiconductor Corporation from a “d” rating to a “c-” rating in a report on Thursday, May 4th.
In other MagnaChip Semiconductor Corporation news, Director Camillo Martino bought 10,000 shares of the business’s stock in a transaction on Monday, August 14th. The stock was purchased at an average price of $10.25 per share, for a total transaction of $102,500.00. Following the completion of the transaction, the director now directly owns 31,916 shares of the company’s stock, valued at $327,139. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Marc Lasry sold 4,088,978 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $10.98, for a total transaction of $44,896,978.44. The disclosure for this sale can be found here. Company insiders own 3.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of MX. State Street Corp raised its position in shares of MagnaChip Semiconductor Corporation by 1.5% in the second quarter. State Street Corp now owns 40,222 shares of the semiconductor company’s stock worth $394,000 after buying an additional 606 shares in the last quarter. Columbia Pacific Advisors LLC raised its position in shares of MagnaChip Semiconductor Corporation by 12.5% in the second quarter. Columbia Pacific Advisors LLC now owns 45,000 shares of the semiconductor company’s stock worth $441,000 after buying an additional 5,000 shares in the last quarter. Suntrust Banks Inc. acquired a new position in shares of MagnaChip Semiconductor Corporation during the first quarter worth $101,000. Granite Point Capital Management L.P. raised its position in shares of MagnaChip Semiconductor Corporation by 35.9% in the second quarter. Granite Point Capital Management L.P. now owns 40,781 shares of the semiconductor company’s stock worth $400,000 after buying an additional 10,781 shares in the last quarter. Finally, Northern Trust Corp acquired a new position in shares of MagnaChip Semiconductor Corporation during the second quarter worth $111,000. Hedge funds and other institutional investors own 94.72% of the company’s stock.
Shares of MagnaChip Semiconductor Corporation (NYSE MX) opened at 10.85 on Friday. The company’s 50 day moving average is $10.88 and its 200 day moving average is $9.16. MagnaChip Semiconductor Corporation has a one year low of $5.20 and a one year high of $12.75. The company has a market cap of $369.29 million, a P/E ratio of 23.69 and a beta of -0.29.
MagnaChip Semiconductor Corporation (NYSE:MX) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.17. The firm had revenue of $166.70 million during the quarter, compared to analysts’ expectations of $165 million. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. On average, equities analysts predict that MagnaChip Semiconductor Corporation will post $0.78 earnings per share for the current year.
MagnaChip Semiconductor Corporation Company Profile
MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.
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