Magnachip Semiconductor (NYSE:MX) Stock Dropped to Sell by Wall Street Zen

Key Points

• Wall Street Zen downgraded Magnachip Semiconductor from “hold” to “sell.” Weiss Ratings also maintained a “sell” rating, leaving the stock with an average “Reduce” rating.
• Magnachip reported a quarterly loss of $0.29 per share, missing estimates of a $0.20 loss; revenue of $43.98 million also fell short of expectations of $47.50 million.
• The CEO bought 20,000 shares at an average price of $3.22, increasing his stake by 5.42%. Shares opened at $2.35 and were near their 52-week low of $1.92.

Magnachip Semiconductor (NYSE:MX - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Magnachip Semiconductor in a research note on Thursday, October 29th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Reduce".

Magnachip Semiconductor Stock Performance

Shares of Magnachip Semiconductor stock opened at $2.35 on Friday. The firm has a market capitalization of $89.32 million, a P/E ratio of -2.86 and a beta of 1.72. The company has a quick ratio of 1.93, a current ratio of 2.43 and a debt-to-equity ratio of 0.07. Magnachip Semiconductor has a 52 week low of $1.92 and a 52 week high of $9.86. The firm's 50 day moving average is $2.93 and its two-hundred day moving average is $3.64.

Magnachip Semiconductor (NYSE:MX - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The semiconductor company reported ($0.29) EPS for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.09). The firm had revenue of $43.98 million for the quarter, compared to analysts' expectations of $47.50 million. Magnachip Semiconductor had a negative net margin of 17.26% and a negative return on equity of 5.84%.

Insider Activity

In related news, CEO Chae Lee acquired 20,000 shares of the stock in a transaction on Thursday, September 24th. The stock was acquired at an average cost of $3.22 per share, for a total transaction of $64,400.00. Following the completion of the acquisition, the chief executive officer directly owned 388,750 shares of the company's stock, valued at approximately $1,251,775. This represents a 5.42% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 10.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Magnachip Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MX. First Wilshire Securities Management Inc. grew its stake in Magnachip Semiconductor by 1.5% during the 1st quarter. First Wilshire Securities Management Inc. now owns 743,953 shares of the semiconductor company's stock valued at $2,083,000 after purchasing an additional 11,096 shares in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Magnachip Semiconductor in the 2nd quarter valued at $54,000. BlackRock Inc. bought a new stake in shares of Magnachip Semiconductor during the 2nd quarter valued at $63,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Magnachip Semiconductor during the 2nd quarter valued at approximately $90,000. Finally, WINTON GROUP Ltd purchased a new stake in Magnachip Semiconductor during the second quarter worth $164,000. Hedge funds and other institutional investors own 74.26% of the company's stock.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Corporation NYSE: MX is a semiconductor company that designs and supplies analog and mixed-signal products. Its portfolio is focused primarily on power semiconductors and display solutions used in consumer electronics, communications equipment, automotive applications, industrial systems and other electronic devices.

The company's power products include metal-oxide-semiconductor field-effect transistors (MOSFETs), insulated-gate bipolar transistors (IGBTs), power integrated circuits and other discrete semiconductor devices designed to manage power conversion, distribution and efficiency.

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