MagnaChip Semiconductor Corporation (NYSE:MX) is scheduled to post its quarterly earnings results after the market closes on Wednesday, November 1st. Analysts expect MagnaChip Semiconductor Corporation to post earnings of $0.24 per share for the quarter.
MagnaChip Semiconductor Corporation (NYSE:MX) last announced its earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.17. The company had revenue of $166.70 million for the quarter, compared to the consensus estimate of $165.00 million. The company’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.05) EPS. On average, analysts expect MagnaChip Semiconductor Corporation to post $0.71 EPS for the current fiscal year and $0.93 EPS for the next fiscal year.
Shares of MagnaChip Semiconductor Corporation (MX) traded down 1.43% during midday trading on Monday, hitting $10.35. 55,452 shares of the stock were exchanged. MagnaChip Semiconductor Corporation has a 12 month low of $5.20 and a 12 month high of $12.75. The stock has a market cap of $352.27 million, a P/E ratio of 22.60 and a beta of -0.33. The firm has a 50 day moving average of $11.04 and a 200-day moving average of $10.18.
In related news, Director Marc Lasry sold 4,088,978 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $10.98, for a total value of $44,896,978.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tavakoli Nader acquired 39,100 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The stock was bought at an average cost of $10.67 per share, with a total value of $417,197.00. Following the completion of the transaction, the director now directly owns 67,686 shares in the company, valued at $722,209.62. The disclosure for this purchase can be found here. 3.80% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in MagnaChip Semiconductor Corporation stock. State Street Corp lifted its stake in MagnaChip Semiconductor Corporation (NYSE:MX) by 1.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,222 shares of the semiconductor company’s stock after purchasing an additional 606 shares during the quarter. State Street Corp owned about 0.12% of MagnaChip Semiconductor Corporation worth $394,000 as of its most recent SEC filing. Institutional investors and hedge funds own 94.17% of the company’s stock.
A number of analysts have recently weighed in on the stock. Citigroup Inc. raised their price target on shares of MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the company a “neutral” rating in a report on Monday, August 7th. Zacks Investment Research upgraded shares of MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $13.00 price target on the stock in a report on Thursday, August 10th. Needham & Company LLC restated a “buy” rating and issued a $15.00 price target on shares of MagnaChip Semiconductor Corporation in a report on Friday, September 8th. BidaskClub upgraded shares of MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating in a report on Friday, August 25th. Finally, ValuEngine cut shares of MagnaChip Semiconductor Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $13.00.
MagnaChip Semiconductor Corporation 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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