Magnachip Semiconductor (NYSE:MX) Stock Rating Upgraded by StockNews.com

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

Other research analysts have also recently issued research reports about the company. 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 note on Thursday, August 1st. Barclays raised Magnachip Semiconductor to a “hold” rating in a report on Tuesday, September 10th.

Magnachip Semiconductor Stock Performance

Shares of MX traded up $0.20 during mid-day trading on Thursday, hitting $4.71. The stock had a trading volume of 112,965 shares, compared to its average volume of 294,470. The firm has a market cap of $180.24 million, a P/E ratio of -6.04 and a beta of 0.64. Magnachip Semiconductor has a 52 week low of $4.25 and a 52 week high of $8.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.03 and a quick ratio of 4.34. The business has a fifty day moving average price of $4.83 and a 200-day moving average price of $5.01.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MX. Grizzlyrock Capital LLC purchased a new stake in shares of Magnachip Semiconductor in the fourth quarter valued at approximately $2,462,000. Allspring Global Investments Holdings LLC increased its position 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 acquiring an additional 2,994 shares during the period. Quadrature Capital Ltd grew its position in Magnachip Semiconductor by 93.4% during the 1st quarter. Quadrature Capital Ltd now owns 43,045 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 20,790 shares during the period. Quantbot Technologies LP grew its position in Magnachip Semiconductor by 28.8% during the 1st quarter. Quantbot Technologies LP now owns 43,326 shares of the semiconductor company’s stock worth $242,000 after purchasing an additional 9,686 shares during the period. Finally, Vanguard Group Inc. grew its position in Magnachip Semiconductor by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 1,049,496 shares of the semiconductor company’s stock worth $5,856,000 after purchasing an additional 28,860 shares during the period. 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.