Magnachip Semiconductor (NYSE:MX) Issues Quarterly Earnings Results

Magnachip Semiconductor (NYSE:MX) announced its quarterly earnings results on Monday. The semiconductor company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.11, Zacks reports. Magnachip Semiconductor had a negative net margin of 20.08% and a negative return on equity of 14.31%.

Magnachip Semiconductor Stock Up 2.7%

Shares of Magnachip Semiconductor stock traded up $0.09 during trading on Monday, hitting $3.34. The company’s stock had a trading volume of 499,114 shares, compared to its average volume of 229,903. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.09 and a current ratio of 4.81. The company has a fifty day simple moving average of $3.36 and a two-hundred day simple moving average of $3.90. The company has a market capitalization of $120.35 million, a PE ratio of -2.88 and a beta of 0.77. Magnachip Semiconductor has a 52 week low of $2.51 and a 52 week high of $5.98.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on MX shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $6.00 target price on shares of Magnachip Semiconductor in a research report on Thursday, March 13th. StockNews.com upgraded shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research note on Thursday, March 13th.

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.