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 topic of several other research reports. ValuEngine upgraded Magnachip Semiconductor from a hold rating to a buy rating in a report on Tuesday, April 23rd. Needham & Company LLC reissued a buy rating and set a $10.00 target price on shares of Magnachip Semiconductor in a report on Thursday, January 24th. Citigroup set a $9.00 target price on Magnachip Semiconductor and gave the stock a hold rating in a report on Thursday, May 2nd. Finally, TheStreet lowered Magnachip Semiconductor from a c rating to a d+ rating in a report on Friday, February 15th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $10.50.
Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported ($0.58) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.58). Magnachip Semiconductor had a negative return on equity of 20.36% and a negative net margin of 5.49%. The business had revenue of $157.40 million for the quarter, compared to analysts’ expectations of $152.50 million. During the same quarter in the previous year, the business posted $0.04 EPS. Magnachip Semiconductor’s revenue for the quarter was down 5.1% on a year-over-year basis. Equities analysts anticipate that Magnachip Semiconductor will post -0.87 earnings per share for the current year.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronado Partners LLC bought a new position in Magnachip Semiconductor in the fourth quarter valued at about $7,459,000. Federated Investors Inc. PA raised its position in Magnachip Semiconductor by 34.8% in the first quarter. Federated Investors Inc. PA now owns 1,025,000 shares of the semiconductor company’s stock valued at $7,585,000 after purchasing an additional 264,800 shares during the last quarter. Morgan Stanley raised its position in Magnachip Semiconductor by 8.6% in the third quarter. Morgan Stanley now owns 1,580,730 shares of the semiconductor company’s stock valued at $15,649,000 after purchasing an additional 125,488 shares during the last quarter. Millennium Management LLC raised its position in Magnachip Semiconductor by 26.6% in the fourth quarter. Millennium Management LLC now owns 511,951 shares of the semiconductor company’s stock valued at $3,179,000 after purchasing an additional 107,725 shares during the last quarter. Finally, IndexIQ Advisors LLC bought a new position in Magnachip Semiconductor in the first quarter valued at about $548,000. 89.28% of the stock is currently owned by institutional investors.
Magnachip Semiconductor Company Profile
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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