Magnachip Semiconductor (NYSE:MX – Free Report) had its price target decreased by Needham & Company LLC from $8.00 to $7.00 in a research report report published on Thursday, Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.
Separately, Roth Mkm cut their target price on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a buy rating for the company in a report on Friday, May 3rd.
Magnachip Semiconductor Price Performance
Magnachip Semiconductor (NYSE:MX – Get Free Report) last posted its earnings results on Thursday, May 2nd. The semiconductor company reported ($0.30) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.38) by $0.08. Magnachip Semiconductor had a negative net margin of 18.49% and a negative return on equity of 10.03%. The firm had revenue of $49.07 million during the quarter, compared to analyst estimates of $48.85 million. Research analysts expect that Magnachip Semiconductor will post -1.29 earnings per share for the current fiscal year.
Institutional Trading of Magnachip Semiconductor
Institutional investors and hedge funds have recently made changes to their positions in the business. Grizzlyrock Capital LLC bought a new position in Magnachip Semiconductor in the fourth quarter worth about $2,462,000. Polunin Capital Partners Ltd grew its stake in shares of Magnachip Semiconductor by 72.4% during the fourth quarter. Polunin Capital Partners Ltd now owns 375,495 shares of the semiconductor company’s stock worth $2,816,000 after acquiring an additional 157,683 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Magnachip Semiconductor during the fourth quarter worth about $374,000. Jump Financial LLC grew its stake in shares of Magnachip Semiconductor by 237.3% during the fourth quarter. Jump Financial LLC now owns 68,135 shares of the semiconductor company’s stock worth $511,000 after acquiring an additional 47,935 shares during the last quarter. Finally, River Global Investors LLP purchased a new stake in shares of Magnachip Semiconductor during the fourth quarter worth about $253,000. 74.26% of the stock is currently owned by institutional investors.
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.
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