Magnachip Semiconductor Corp (NYSE:MX) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Magnachip Semiconductor Corp (NYSE:MX) have been given a consensus rating of “Buy” by the six analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $12.67.

A number of analysts have recently commented on the company. ValuEngine raised Magnachip Semiconductor from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 4th. Citigroup set a $11.00 price target on Magnachip Semiconductor and gave the company a “hold” rating in a report on Wednesday, July 31st. Zacks Investment Research lowered Magnachip Semiconductor from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, Roth Capital set a $17.00 price objective on Magnachip Semiconductor and gave the stock a “buy” rating in a research note on Wednesday, July 31st.

Shares of NYSE MX traded down $0.07 during midday trading on Friday, reaching $11.18. The company had a trading volume of 1,822 shares, compared to its average volume of 186,419. Magnachip Semiconductor has a one year low of $5.75 and a one year high of $12.00. The stock has a market cap of $370.50 million, a PE ratio of 15.79 and a beta of 0.94. The firm’s fifty day moving average price is $10.57 and its 200-day moving average price is $9.34.



Magnachip Semiconductor (NYSE:MX) last announced its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.17. Magnachip Semiconductor had a negative return on equity of 20.36% and a negative net margin of 3.85%. The company had revenue of $205.15 million for the quarter, compared to the consensus estimate of $194.00 million. During the same quarter in the previous year, the business earned $0.23 EPS. Magnachip Semiconductor’s revenue was up 2.7% compared to the same quarter last year. As a group, research analysts anticipate that Magnachip Semiconductor will post -0.29 earnings per share for the current fiscal year.

Several large investors have recently made changes to their positions in the stock. Walleye Trading Advisors LLC bought a new position in shares of Magnachip Semiconductor in the 2nd quarter valued at about $307,000. Walleye Trading LLC bought a new position in shares of Magnachip Semiconductor in the 2nd quarter valued at about $327,000. D. E. Shaw & Co. Inc. lifted its holdings in shares of Magnachip Semiconductor by 15.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 563,426 shares of the semiconductor company’s stock valued at $5,832,000 after acquiring an additional 75,506 shares during the last quarter. Cubist Systematic Strategies LLC lifted its stake in Magnachip Semiconductor by 107.5% in the second quarter. Cubist Systematic Strategies LLC now owns 48,236 shares of the semiconductor company’s stock worth $499,000 after purchasing an additional 24,985 shares during the last quarter. Finally, Point72 Asset Management L.P. lifted its stake in Magnachip Semiconductor by 1.0% in the second quarter. Point72 Asset Management L.P. now owns 504,800 shares of the semiconductor company’s stock worth $5,225,000 after purchasing an additional 4,800 shares during the last quarter. 88.71% 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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