Magnachip Semiconductor (NYSE:MX) Downgraded by StockNews.com

Magnachip Semiconductor (NYSE:MX) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

MX has been the subject of a number of other reports. Barclays raised Magnachip Semiconductor to a “hold” rating in a research note on Tuesday, September 10th. Needham & Company LLC lowered their price objective on shares of 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 Price Performance

Shares of MX stock opened at $4.61 on Tuesday. 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 12-month low of $4.25 and a 12-month high of $8.50. The firm has a fifty day moving average of $4.89 and a 200-day moving average of $5.05. The firm has a market capitalization of $176.42 million, a price-to-earnings ratio of -5.91 and a beta of 0.64.

Magnachip Semiconductor (NYSE:MX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. Magnachip Semiconductor had a negative return on equity of 10.29% and a negative net margin of 18.49%. The firm had revenue of $53.17 million during the quarter, compared to analysts’ expectations of $51.45 million. On average, equities research analysts forecast that Magnachip Semiconductor will post -1.13 earnings per share for the current year.

Institutional Investors Weigh In On Magnachip Semiconductor

Institutional investors have recently bought and sold shares of the company. Algert Global LLC lifted its position in Magnachip Semiconductor by 15.0% during the 2nd quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock worth $92,000 after buying an additional 2,470 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Magnachip Semiconductor by 177.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 2,994 shares during the last quarter. Founders Capital Management bought a new stake in Magnachip Semiconductor during the second quarter worth about $29,000. American Century Companies Inc. boosted its position in Magnachip Semiconductor by 13.4% during the second quarter. American Century Companies Inc. now owns 57,173 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 6,777 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its stake in Magnachip Semiconductor by 4.4% in the fourth quarter. BNP Paribas Financial Markets now owns 196,838 shares of the semiconductor company’s stock valued at $1,476,000 after purchasing an additional 8,266 shares in the last quarter. Institutional investors own 74.26% of the company’s stock.

Magnachip Semiconductor Company Profile

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.