Magnachip Semiconductor Co. (NYSE:MX – Get Rating) fell 2.4% on Tuesday . The stock traded as low as $16.39 and last traded at $16.40. 1,705 shares changed hands during trading, a decline of 100% from the average session volume of 347,784 shares. The stock had previously closed at $16.80.
Several research firms have recently weighed in on MX. Needham & Company LLC reaffirmed a “buy” rating and set a $25.00 price objective on shares of Magnachip Semiconductor in a report on Wednesday, May 4th. Roth Capital reaffirmed a “buy” rating on shares of Magnachip Semiconductor in a report on Wednesday, May 4th. Finally, StockNews.com raised shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating in a report on Wednesday, June 1st.
The business’s fifty day simple moving average is $17.66 and its 200 day simple moving average is $17.91. The stock has a market cap of $727.67 million, a price-to-earnings ratio of 10.84, a price-to-earnings-growth ratio of 0.93 and a beta of 0.94.
Magnachip Semiconductor (NYSE:MX – Get Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The semiconductor company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The company had revenue of $104.09 million for the quarter, compared to analysts’ expectations of $106.15 million. Magnachip Semiconductor had a net margin of 16.19% and a return on equity of 10.61%. During the same period last year, the firm posted $0.18 earnings per share. On average, sell-side analysts forecast that Magnachip Semiconductor Co. will post 0.67 EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Gabelli Funds LLC lifted its position in Magnachip Semiconductor by 52.8% in the 4th quarter. Gabelli Funds LLC now owns 278,925 shares of the semiconductor company’s stock valued at $5,849,000 after acquiring an additional 96,417 shares in the last quarter. Clearline Capital LP increased its stake in shares of Magnachip Semiconductor by 5.7% during the 4th quarter. Clearline Capital LP now owns 836,570 shares of the semiconductor company’s stock worth $17,543,000 after purchasing an additional 44,885 shares during the last quarter. Millennium Management LLC increased its stake in shares of Magnachip Semiconductor by 15.3% during the 3rd quarter. Millennium Management LLC now owns 1,120,291 shares of the semiconductor company’s stock worth $19,896,000 after purchasing an additional 148,421 shares during the last quarter. Rice Hall James & Associates LLC grew its stake in Magnachip Semiconductor by 47.2% in the 4th quarter. Rice Hall James & Associates LLC now owns 176,130 shares of the semiconductor company’s stock valued at $3,693,000 after buying an additional 56,506 shares during the last quarter. Finally, Lynrock Lake LP grew its stake in Magnachip Semiconductor by 0.9% in the 4th quarter. Lynrock Lake LP now owns 949,385 shares of the semiconductor company’s stock valued at $19,909,000 after buying an additional 8,887 shares during the last quarter. 70.88% of the stock is currently owned by institutional investors.
About Magnachip Semiconductor (NYSE:MX)
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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