Analysts expect that Magnachip Semiconductor Co. (NYSE:MX – Get Rating) will post sales of $106.15 million for the current quarter, Zacks reports. Two analysts have made estimates for Magnachip Semiconductor’s earnings, with the highest sales estimate coming in at $107.30 million and the lowest estimate coming in at $105.00 million. Magnachip Semiconductor posted sales of $123.02 million during the same quarter last year, which suggests a negative year over year growth rate of 13.7%. The firm is scheduled to issue its next quarterly earnings report after the market closes on Monday, January 1st.
On average, analysts expect that Magnachip Semiconductor will report full-year sales of $481.50 million for the current financial year, with estimates ranging from $480.00 million to $483.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $643.30 million, with estimates ranging from $611.60 million to $675.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover Magnachip Semiconductor.
Magnachip Semiconductor (NYSE:MX – Get Rating) last released its quarterly earnings results on Wednesday, February 16th. The semiconductor company reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.08. The company had revenue of $110.34 million during the quarter, compared to analysts’ expectations of $121.15 million. Magnachip Semiconductor had a return on equity of 10.03% and a net margin of 11.96%. During the same quarter in the prior year, the business posted $0.37 earnings per share.
Several equities research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $29.00 target price on shares of Magnachip Semiconductor in a research report on Wednesday, January 19th. Zacks Investment Research upgraded Magnachip Semiconductor from a “strong sell” rating to a “hold” rating in a report on Thursday, March 10th. Finally, StockNews.com began coverage on shares of Magnachip Semiconductor in a research report on Thursday, March 31st. They issued a “buy” rating on the stock.
Shares of NYSE MX opened at $15.09 on Friday. The business has a fifty day simple moving average of $16.84 and a 200-day simple moving average of $17.96. The company has a market cap of $677.45 million, a price-to-earnings ratio of 13.01, a P/E/G ratio of 0.68 and a beta of 1.08. Magnachip Semiconductor has a 12 month low of $14.68 and a 12 month high of $26.90.
In other news, insider Woung Moo Lee sold 7,000 shares of the stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $18.58, for a total value of $130,060.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Young-Joon Kim acquired 5,460 shares of the company’s stock in a transaction dated Thursday, February 24th. The stock was bought at an average cost of $17.37 per share, for a total transaction of $94,840.20. The disclosure for this purchase can be found here. 4.10% of the stock is currently owned by insiders.
A number of institutional investors have recently made changes to their positions in MX. PenderFund Capital Management Ltd. bought a new position in Magnachip Semiconductor in the 4th quarter valued at approximately $56,000. Ancora Advisors LLC raised its holdings in Magnachip Semiconductor by 50.0% during the 3rd quarter. Ancora Advisors LLC now owns 3,000 shares of the semiconductor company’s stock worth $53,000 after purchasing an additional 1,000 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Magnachip Semiconductor in the 4th quarter valued at $230,000. Shay Capital LLC increased its stake in shares of Magnachip Semiconductor by 6.9% in the 4th quarter. Shay Capital LLC now owns 11,280 shares of the semiconductor company’s stock valued at $237,000 after acquiring an additional 732 shares in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Magnachip Semiconductor by 168.3% in the 4th quarter. Wells Fargo & Company MN now owns 11,684 shares of the semiconductor company’s stock valued at $245,000 after acquiring an additional 7,329 shares in the last quarter. Hedge funds and other institutional investors own 74.97% of the company’s stock.
Magnachip Semiconductor Company Profile (Get Rating)
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, 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, notebook PCs, monitors and liquid crystal displays, and micro light-emitting diode (LED) televisions.
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