Magnachip Semiconductor Corp. (NYSE:MX – Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.05 and traded as high as $5.83. Magnachip Semiconductor shares last traded at $5.5130, with a volume of 2,554,754 shares traded.
Analysts Set New Price Targets
A number of research firms have recently weighed in on MX. Weiss Ratings raised shares of Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Wall Street Zen raised shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research downgraded shares of Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $5.50.
Magnachip Semiconductor Stock Performance
Magnachip Semiconductor (NYSE:MX – Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.11. Magnachip Semiconductor had a negative net margin of 14.14% and a negative return on equity of 4.68%. The business had revenue of $46.21 million during the quarter, compared to analyst estimates of $46.00 million.
Institutional Investors Weigh In On Magnachip Semiconductor
Institutional investors and hedge funds have recently modified their holdings of the business. LPL Financial LLC acquired a new stake in shares of Magnachip Semiconductor in the 4th quarter valued at $30,000. Sei Investments Co. acquired a new stake in shares of Magnachip Semiconductor in the 2nd quarter valued at $61,000. NewEdge Advisors LLC bought a new position in Magnachip Semiconductor in the 2nd quarter worth $74,000. Quadrature Capital Ltd raised its holdings in Magnachip Semiconductor by 57.0% in the 4th quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 8,863 shares during the period. Finally, XTX Topco Ltd bought a new position in Magnachip Semiconductor in the 4th quarter worth $65,000. Institutional investors and hedge funds own 74.26% of the company’s stock.
Magnachip Semiconductor Company Profile
Magnachip Semiconductor Inc is a fabless semiconductor company specializing in high-performance analog and mixed-signal solutions for the display, power management and lighting markets. Its core product portfolio includes display driver ICs for LCD and OLED panels, high-voltage MOSFETs, DC-DC converters, LED driver ICs and power management devices used in consumer electronics, mobile devices, industrial equipment and automotive applications.
Founded in 2004 as a spin-off from MagnaChip, Magnachip is incorporated in the United States with design and sales offices strategically located across North America, Europe and Asia.
Featured Stories
- Five stocks we like better than Magnachip Semiconductor
- SpaceX Gets the Attention, But These 4 Stocks Could Get the Returns
- Microsoft Stock Discount May Be Ending as AI Catalysts Build
- Apparel Earnings Winners and Losers: Ralph Lauren Takes Off
- Why Walmart, Target and TJX Got Such Different Reactions After Earnings
Receive News & Ratings for Magnachip Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnachip Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.
