StockNews.com Upgrades Magnachip Semiconductor (NYSE:MX) to “Hold”

StockNews.com upgraded shares of Magnachip Semiconductor (NYSE:MX) from a sell rating to a hold rating in a research report released on Thursday morning.

Other research analysts have also issued research reports about the company. Needham & Company LLC lowered their price target on Magnachip Semiconductor from $8.00 to $7.00 and set a buy rating for the company in a research report on Thursday, August 1st. Barclays upgraded Magnachip Semiconductor to a hold rating in a report on Tuesday, September 10th.

Magnachip Semiconductor Price Performance

Shares of Magnachip Semiconductor stock opened at $4.70 on Thursday. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.03 and a quick ratio of 4.34. Magnachip Semiconductor has a one year low of $4.25 and a one year high of $8.50. The business’s 50 day simple moving average is $4.83 and its two-hundred day simple moving average is $5.00. The stock has a market capitalization of $179.86 million, a P/E ratio of -6.03 and a beta of 0.64.

Magnachip Semiconductor (NYSE:MX) last announced its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.37) by $0.13. Magnachip Semiconductor had a negative net margin of 18.49% and a negative return on equity of 10.29%. The business had revenue of $53.17 million during the quarter, compared to analysts’ expectations of $51.45 million. Analysts forecast that Magnachip Semiconductor will post -1.13 EPS for the current year.

Institutional Investors Weigh In On Magnachip Semiconductor

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MX. Allspring Global Investments Holdings LLC grew its position in shares of Magnachip Semiconductor by 177.0% in the 1st 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 about $29,000. Citizens Financial Group Inc. RI bought a new position in shares of Magnachip Semiconductor during the first quarter valued at approximately $89,000. Algert Global LLC lifted its holdings 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 valued at $92,000 after purchasing an additional 2,470 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Magnachip Semiconductor in the 4th quarter worth approximately $167,000. 74.26% of the stock is owned by hedge funds and other institutional investors.

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.