Shares of MagnaChip Semiconductor Corporation (NYSE:MX) have been assigned an average recommendation of “Buy” from the seven research firms that are currently covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $12.25.
A number of analysts have weighed in on MX shares. Zacks Investment Research raised shares of MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $13.00 target price on the stock in a research note on Thursday, August 10th. Needham & Company LLC reissued a “buy” rating and issued a $15.00 price objective on shares of MagnaChip Semiconductor Corporation in a research note on Friday, September 8th. BidaskClub raised shares of MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. ValuEngine raised shares of MagnaChip Semiconductor Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Citigroup Inc. boosted their price objective on shares of MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, August 7th.
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In other news, Director Camillo Martino bought 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were acquired at an average price of $10.25 per share, for a total transaction of $102,500.00. Following the completion of the acquisition, the director now directly owns 31,916 shares in the company, valued at $327,139. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tavakoli Nader bought 39,100 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average price of $10.67 per share, for a total transaction of $417,197.00. Following the acquisition, the director now owns 67,686 shares of the company’s stock, valued at $722,209.62. The disclosure for this purchase can be found here. Insiders own 3.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in MX. Evermore Global Advisors LLC acquired a new position in MagnaChip Semiconductor Corporation in the first quarter valued at $15,162,000. Alliancebernstein L.P. acquired a new position in MagnaChip Semiconductor Corporation in the second quarter valued at $7,774,000. Morgan Stanley lifted its holdings in MagnaChip Semiconductor Corporation by 91.0% in the first quarter. Morgan Stanley now owns 916,194 shares of the semiconductor company’s stock valued at $8,749,000 after buying an additional 436,509 shares during the period. Driehaus Capital Management LLC acquired a new position in MagnaChip Semiconductor Corporation in the first quarter valued at $3,504,000. Finally, Hood River Capital Management LLC lifted its holdings in MagnaChip Semiconductor Corporation by 24.0% in the second quarter. Hood River Capital Management LLC now owns 1,570,550 shares of the semiconductor company’s stock valued at $15,391,000 after buying an additional 303,818 shares during the period. Institutional investors and hedge funds own 93.50% of the company’s stock.
MagnaChip Semiconductor Corporation (NYSE:MX) opened at 11.50 on Wednesday. The firm’s 50-day moving average price is $11.24 and its 200 day moving average price is $9.54. MagnaChip Semiconductor Corporation has a 12-month low of $5.20 and a 12-month high of $12.75. The firm has a market cap of $391.41 million, a P/E ratio of 25.11 and a beta of -0.37.
MagnaChip Semiconductor Corporation (NYSE:MX) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.17. The company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $165.00 million. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. Analysts forecast that MagnaChip Semiconductor Corporation will post $0.78 earnings per share for the current fiscal year.
About MagnaChip Semiconductor Corporation
MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.
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