StockNews.com Downgrades Magnachip Semiconductor (NYSE:MX) to Sell

StockNews.com cut shares of Magnachip Semiconductor (NYSE:MX) from a hold rating to a sell rating in a research note published on Tuesday morning.

Several other analysts have also recently issued reports on the stock. Needham & Company LLC decreased their target price on shares of Magnachip Semiconductor from $8.00 to $7.00 and set a buy rating on the stock in a research report on Thursday, August 1st. Barclays upgraded Magnachip Semiconductor to a hold rating in a research report on Tuesday, September 10th.

Magnachip Semiconductor Price Performance

Shares of Magnachip Semiconductor stock opened at $4.64 on Tuesday. The firm has a market cap of $177.56 million, a PE ratio of -5.95 and a beta of 0.64. The stock has a 50 day moving average of $4.88 and a 200 day moving average of $5.04. The company has a current ratio of 5.03, a quick ratio of 4.34 and a debt-to-equity ratio of 0.09. Magnachip Semiconductor has a 12 month low of $4.25 and a 12 month high of $8.50.

Magnachip Semiconductor (NYSE:MX) last posted its earnings results on Wednesday, July 31st. The semiconductor company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. The firm had revenue of $53.17 million during the quarter, compared to analyst estimates of $51.45 million. Magnachip Semiconductor had a negative net margin of 18.49% and a negative return on equity of 10.29%. On average, research analysts expect that Magnachip Semiconductor will post -1.13 EPS for the current fiscal year.

Institutional Trading of Magnachip Semiconductor

Several institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Magnachip Semiconductor by 177.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock worth $26,000 after buying an additional 2,994 shares during the period. Founders Capital Management purchased a new stake in Magnachip Semiconductor in the second quarter worth $29,000. Citizens Financial Group Inc. RI purchased a new stake in Magnachip Semiconductor in the first quarter worth $89,000. Algert Global LLC lifted its position in shares of Magnachip Semiconductor by 15.0% during the second quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock worth $92,000 after purchasing an additional 2,470 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Magnachip Semiconductor during the fourth quarter valued at $114,000. Institutional investors own 74.26% of the company’s stock.

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.