Magnachip Semiconductor (NYSE:MX) Stock Rating Lowered by Zacks Research

Magnachip Semiconductor (NYSE:MX - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of Magnachip Semiconductor in a report on Tuesday, April 21st. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $5.50.

Magnachip Semiconductor Stock Performance

NYSE:MX opened at $4.08 on Monday. The company has a current ratio of 4.07, a quick ratio of 3.29 and a debt-to-equity ratio of 0.18. The firm has a 50-day moving average price of $3.10 and a two-hundred day moving average price of $2.90. Magnachip Semiconductor has a twelve month low of $2.18 and a twelve month high of $5.64. The company has a market capitalization of $147.63 million, a P/E ratio of -5.82 and a beta of 1.00.

Magnachip Semiconductor (NYSE:MX - Get Free Report) last posted its earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.11. Magnachip Semiconductor had a negative net margin of 14.14% and a negative return on equity of 4.57%. The firm had revenue of $46.21 million during the quarter, compared to the consensus estimate of $46.00 million. As a group, research analysts expect that Magnachip Semiconductor will post -0.91 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Magnachip Semiconductor

Several hedge funds have recently modified their holdings of MX. Lepercq De Neuflize Asset Management LLC boosted its stake in shares of Magnachip Semiconductor by 162.3% during the 4th quarter. Lepercq De Neuflize Asset Management LLC now owns 2,694,527 shares of the semiconductor company's stock worth $6,871,000 after purchasing an additional 1,667,434 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Magnachip Semiconductor by 47.2% during the 4th quarter. Marshall Wace LLP now owns 1,285,832 shares of the semiconductor company's stock worth $3,279,000 after purchasing an additional 412,098 shares during the last quarter. Potomac Capital Management Inc. acquired a new stake in shares of Magnachip Semiconductor during the 4th quarter worth about $987,000. First Wilshire Securities Management Inc. boosted its stake in shares of Magnachip Semiconductor by 53.8% during the 4th quarter. First Wilshire Securities Management Inc. now owns 732,857 shares of the semiconductor company's stock worth $1,869,000 after purchasing an additional 256,211 shares during the last quarter. Finally, FourWorld Capital Management LLC acquired a new stake in shares of Magnachip Semiconductor during the 4th quarter worth about $551,000. 74.26% of the stock is owned by institutional investors and hedge funds.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Inc is a fabless semiconductor company specializing in high-performance analog and mixed-signal solutions for the display, power management and lighting markets. Its core product portfolio includes display driver ICs for LCD and OLED panels, high-voltage MOSFETs, DC-DC converters, LED driver ICs and power management devices used in consumer electronics, mobile devices, industrial equipment and automotive applications.

Founded in 2004 as a spin-off from MagnaChip, Magnachip is incorporated in the United States with design and sales offices strategically located across North America, Europe and Asia.

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