Magnachip Semiconductor Corp (MX) Given Consensus Rating of “Hold” by Analysts

Shares of Magnachip Semiconductor Corp (NYSE:MX) have earned a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $13.00.

Several research analysts have recently commented on MX shares. Zacks Investment Research upgraded Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday, November 7th. ValuEngine lowered Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. TheStreet lowered Magnachip Semiconductor from a “c-” rating to a “d” rating in a research report on Thursday, November 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 target price on shares of Magnachip Semiconductor in a research report on Thursday, November 2nd.

Magnachip Semiconductor (NYSE:MX) opened at $11.25 on Tuesday. The company has a market capitalization of $448.92, a P/E ratio of -21.63 and a beta of -0.29. The company has a debt-to-equity ratio of -4.96, a current ratio of 2.42 and a quick ratio of 1.96. Magnachip Semiconductor has a 12-month low of $6.85 and a 12-month high of $13.40.

Magnachip Semiconductor (NYSE:MX) last issued its earnings results on Wednesday, November 1st. The semiconductor company reported $0.27 EPS for the quarter, topping the consensus estimate of $0.24 by $0.03. research analysts expect that Magnachip Semiconductor will post 0.7 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. Evermore Global Advisors LLC boosted its position in Magnachip Semiconductor by 34.1% during the 3rd quarter. Evermore Global Advisors LLC now owns 3,125,620 shares of the semiconductor company’s stock valued at $35,476,000 after purchasing an additional 794,415 shares during the period. Oaktree Capital Management LP raised its stake in Magnachip Semiconductor by 44.9% during the 3rd quarter. Oaktree Capital Management LP now owns 2,340,000 shares of the semiconductor company’s stock valued at $26,559,000 after acquiring an additional 725,000 shares in the last quarter. Rubric Capital Management LP raised its stake in Magnachip Semiconductor by 16.9% during the 3rd quarter. Rubric Capital Management LP now owns 2,250,500 shares of the semiconductor company’s stock valued at $25,543,000 after acquiring an additional 325,500 shares in the last quarter. Hood River Capital Management LLC raised its stake in Magnachip Semiconductor by 19.7% during the 3rd quarter. Hood River Capital Management LLC now owns 1,880,187 shares of the semiconductor company’s stock valued at $21,340,000 after acquiring an additional 309,637 shares in the last quarter. Finally, Alliancebernstein L.P. bought a new stake in Magnachip Semiconductor during the 2nd quarter valued at $7,774,000. Institutional investors and hedge funds own 89.45% of the company’s stock.

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Magnachip Semiconductor Company Profile

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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