StockNews.com Downgrades Magnachip Semiconductor (NYSE:MX) to Sell

Magnachip Semiconductor (NYSE:MX) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued on Thursday.

Several other equities research analysts also recently commented on the company. Barclays upgraded Magnachip Semiconductor to a “hold” rating in a report on Tuesday, September 10th. Needham & Company LLC reduced their price target on shares of Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 1st.

Magnachip Semiconductor Stock Down 1.3 %

MX stock traded down $0.06 during trading on Thursday, hitting $4.42. 580,956 shares of the stock traded hands, compared to its average volume of 282,559. The firm’s 50 day moving average is $4.68 and its two-hundred day moving average is $4.87. Magnachip Semiconductor has a 1 year low of $4.25 and a 1 year high of $8.16. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.03 and a quick ratio of 4.34. The stock has a market cap of $165.56 million, a price-to-earnings ratio of -3.81 and a beta of 0.64.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.15). The business had revenue of $66.46 million during the quarter, compared to the consensus estimate of $64.05 million. Magnachip Semiconductor had a negative net margin of 18.49% and a negative return on equity of 10.29%. On average, sell-side analysts anticipate that Magnachip Semiconductor will post -1.13 EPS for the current year.

Institutional Investors Weigh In On Magnachip Semiconductor

A number of large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake 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 purchasing an additional 2,994 shares during the period. Founders Capital Management bought a new stake in Magnachip Semiconductor during the second quarter valued at approximately $29,000. Citizens Financial Group Inc. RI purchased a new stake in Magnachip Semiconductor during the first quarter valued at approximately $89,000. Algert Global LLC raised its position in Magnachip Semiconductor by 15.0% in the second quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock worth $92,000 after acquiring an additional 2,470 shares during the period. Finally, Quadrature Capital Ltd boosted its stake in shares of Magnachip Semiconductor by 93.4% during the 1st quarter. Quadrature Capital Ltd now owns 43,045 shares of the semiconductor company’s stock worth $240,000 after acquiring an additional 20,790 shares during the last quarter. 74.26% of the stock is currently owned by institutional investors.

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.