Magnachip Semiconductor (NYSE:MX) Price Target Lowered to $8.00 at Roth Mkm

Magnachip Semiconductor (NYSE:MX) had its price target cut by Roth Mkm from $10.00 to $8.00 in a research note released on Friday morning, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Other equities analysts also recently issued reports about the company. StockNews.com raised Magnachip Semiconductor from a sell rating to a hold rating in a research report on Saturday, March 9th. Needham & Company LLC lowered their price target on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a buy rating for the company in a report on Friday.

Magnachip Semiconductor Stock Up 3.2 %

MX stock traded up $0.16 during midday trading on Friday, hitting $5.09. The company’s stock had a trading volume of 408,428 shares, compared to its average volume of 282,714. The firm has a 50-day simple moving average of $5.41 and a 200-day simple moving average of $6.47. The firm has a market capitalization of $194.74 million, a P/E ratio of -6.53 and a beta of 0.77. Magnachip Semiconductor has a 52-week low of $4.70 and a 52-week high of $11.68.

Magnachip Semiconductor (NYSE:MX) last released its earnings results on Wednesday, February 28th. The semiconductor company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.08. Magnachip Semiconductor had a negative return on equity of 8.16% and a negative net margin of 13.76%. The firm had revenue of $50.82 million during the quarter, compared to analyst estimates of $52.45 million. During the same period last year, the business posted ($0.39) earnings per share. On average, sell-side analysts expect that Magnachip Semiconductor will post -1.4 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Orion Portfolio Solutions LLC boosted its stake in shares of Magnachip Semiconductor by 5.7% during the third quarter. Orion Portfolio Solutions LLC now owns 77,103 shares of the semiconductor company’s stock worth $641,000 after buying an additional 4,150 shares during the period. Quantbot Technologies LP acquired a new stake in Magnachip Semiconductor during the 3rd quarter worth approximately $36,000. BCK Capital Management LP grew its stake in shares of Magnachip Semiconductor by 33.3% in the 3rd quarter. BCK Capital Management LP now owns 74,268 shares of the semiconductor company’s stock valued at $617,000 after purchasing an additional 18,566 shares during the last quarter. Thompson Siegel & Walmsley LLC increased its holdings in shares of Magnachip Semiconductor by 13.6% in the third quarter. Thompson Siegel & Walmsley LLC now owns 794,323 shares of the semiconductor company’s stock valued at $6,601,000 after purchasing an additional 95,231 shares during the period. Finally, Maven Securities LTD acquired a new position in shares of Magnachip Semiconductor in the third quarter valued at approximately $2,908,000. 74.26% of the stock is currently owned by institutional investors and hedge funds.

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.