Magnachip Semiconductor (NYSE:MX) PT Lowered to $8.00 at Roth Mkm

Magnachip Semiconductor (NYSE:MX) had its price target lowered by Roth Mkm from $10.00 to $8.00 in a research note published on Friday, Benzinga reports. Roth Mkm currently has a buy rating on the semiconductor company’s stock.

A number of other brokerages have also recently weighed in on MX. Needham & Company LLC dropped their price target on Magnachip Semiconductor from $10.00 to $8.00 and set a buy rating on the stock in a research report on Friday. StockNews.com upgraded Magnachip Semiconductor from a sell rating to a hold rating in a research note on Saturday, March 9th.

Magnachip Semiconductor Trading Up 1.6 %

NYSE MX traded up $0.08 during mid-day trading on Friday, reaching $5.17. 302,750 shares of the company’s stock traded hands, compared to its average volume of 410,387. The company has a fifty day simple moving average of $5.41 and a 200-day simple moving average of $6.45. The company has a market cap of $197.80 million, a price-to-earnings ratio of -6.62 and a beta of 0.77. Magnachip Semiconductor has a 1-year low of $4.70 and a 1-year high of $11.68.

Magnachip Semiconductor (NYSE:MX) last released its earnings results on Wednesday, February 28th. The semiconductor company reported ($0.26) EPS for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.08. The company had revenue of $50.82 million for the quarter, compared to the consensus estimate of $52.45 million. Magnachip Semiconductor had a negative return on equity of 8.16% and a negative net margin of 13.76%. During the same quarter last year, the business posted ($0.39) EPS. Equities research analysts forecast that Magnachip Semiconductor will post -1.4 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Magnachip Semiconductor

Hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in shares of Magnachip Semiconductor by 808.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,496 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 3,111 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Magnachip Semiconductor by 177.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock worth $26,000 after purchasing an additional 2,994 shares during the period. Quantbot Technologies LP acquired a new position in shares of Magnachip Semiconductor in the third quarter worth about $36,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Magnachip Semiconductor by 36.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,248 shares of the semiconductor company’s stock worth $84,000 after acquiring an additional 3,024 shares in the last quarter. Finally, J.W. Cole Advisors Inc. acquired a new stake in shares of Magnachip Semiconductor during the fourth quarter valued at approximately $105,000. 74.26% of the stock is currently owned by institutional investors and hedge funds.

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.