Magnachip Semiconductor (MX) Set to Announce Quarterly Earnings on Wednesday

Magnachip Semiconductor (NYSE:MX) is set to post its quarterly earnings results after the market closes on Wednesday, October 30th. Analysts expect Magnachip Semiconductor to post earnings of ($0.19) per share for the quarter. Magnachip Semiconductor has set its Q3 2024 guidance at EPS.Investors interested in participating in the company’s conference call can do so using this link.

Magnachip Semiconductor (NYSE:MX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported ($0.24) EPS 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 net margin of 18.49% and a negative return on equity of 10.29%. On average, analysts expect Magnachip Semiconductor to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Magnachip Semiconductor Stock Performance

NYSE MX opened at $4.75 on Monday. The company has a 50 day moving average of $4.71 and a 200-day moving average of $4.89. Magnachip Semiconductor has a 1-year low of $4.25 and a 1-year high of $8.16. The firm has a market cap of $181.77 million, a price-to-earnings ratio of -6.09 and a beta of 0.64. The company has a current ratio of 5.03, a quick ratio of 4.34 and a debt-to-equity ratio of 0.09.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Barclays upgraded Magnachip Semiconductor to a “hold” rating in a research note on Tuesday, September 10th. StockNews.com upgraded shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Needham & Company LLC reduced their price objective on Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 1st.

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.