Magnachip Semiconductor (NYSE:MX) Rating Increased to Hold at StockNews.com

Magnachip Semiconductor (NYSE:MX) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

MX has been the subject of several other reports. Barclays raised Magnachip Semiconductor to a “hold” rating in a research report on Tuesday, September 10th. Needham & Company LLC lowered their target price on Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 1st.

Magnachip Semiconductor Trading Down 0.6 %

NYSE MX opened at $4.68 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. Magnachip Semiconductor has a twelve month low of $4.25 and a twelve month high of $8.50. The company has a market cap of $179.09 million, a price-to-earnings ratio of -6.00 and a beta of 0.64. The business’s fifty day moving average is $4.83 and its 200 day moving average is $5.01.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.13. The company had revenue of $53.17 million for the quarter, compared to the consensus estimate of $51.45 million. Magnachip Semiconductor had a negative return on equity of 10.29% and a negative net margin of 18.49%. As a group, sell-side analysts expect that Magnachip Semiconductor will post -1.13 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Grizzlyrock Capital LLC bought a new position in shares of Magnachip Semiconductor in the 4th quarter worth about $2,462,000. Allspring Global Investments Holdings LLC grew its stake in shares of 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 buying an additional 2,994 shares during the period. Quadrature Capital Ltd grew its stake in shares of Magnachip Semiconductor by 93.4% in the 1st quarter. Quadrature Capital Ltd now owns 43,045 shares of the semiconductor company’s stock valued at $240,000 after buying an additional 20,790 shares during the period. Quantbot Technologies LP grew its stake in shares of 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 buying an additional 9,686 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Magnachip Semiconductor by 2.8% in the 1st quarter. Vanguard Group Inc. now owns 1,049,496 shares of the semiconductor company’s stock valued at $5,856,000 after buying an additional 28,860 shares during the period. 74.26% of the stock is owned by institutional investors.

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.