MagnaChip Semiconductor Co. (NYSE:MX) has earned an average recommendation of "Buy" from the eight research firms that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $26.25.
MX has been the subject of several research reports. Oppenheimer reiterated a "buy" rating and issued a $25.00 target price on shares of MagnaChip Semiconductor in a report on Thursday, February 18th. Zacks Investment Research upgraded MagnaChip Semiconductor from a "sell" rating to a "hold" rating in a report on Tuesday, March 9th. Tudor Pickering restated a "hold" rating on shares of MagnaChip Semiconductor in a report on Friday, March 26th. Roth Capital lifted their price objective on MagnaChip Semiconductor from $20.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, February 25th. Finally, Needham & Company LLC lifted their price objective on MagnaChip Semiconductor from $25.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, February 25th.
Several hedge funds have recently modified their holdings of the company. Garnet Equity Capital Holdings Inc. grew its stake in shares of MagnaChip Semiconductor by 30.8% during the first quarter. Garnet Equity Capital Holdings Inc. now owns 572,659 shares of the semiconductor company's stock worth $14,259,000 after acquiring an additional 134,722 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of MagnaChip Semiconductor during the first quarter worth about $75,000. Canandaigua National Corp acquired a new stake in shares of MagnaChip Semiconductor during the first quarter worth about $236,000. Dimensional Fund Advisors LP lifted its holdings in shares of MagnaChip Semiconductor by 6.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 549,133 shares of the semiconductor company's stock worth $7,424,000 after purchasing an additional 34,895 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its holdings in shares of MagnaChip Semiconductor by 7.2% during the fourth quarter. UBS Asset Management Americas Inc. now owns 22,200 shares of the semiconductor company's stock worth $300,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 97.18% of the company's stock.
Shares of MagnaChip Semiconductor stock traded down $0.07 on Tuesday, reaching $24.70. The company had a trading volume of 6,821 shares, compared to its average volume of 1,088,875. The firm's 50-day moving average price is $24.79 and its two-hundred day moving average price is $18.24. MagnaChip Semiconductor has a 1 year low of $9.47 and a 1 year high of $26.98. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 3.87, a P/E/G ratio of 0.80 and a beta of 1.05.
MagnaChip Semiconductor (NYSE:MX) last posted its quarterly earnings data on Tuesday, February 16th. The semiconductor company reported $0.40 earnings per share (EPS) for the quarter, beating the Zacks' consensus estimate of $0.13 by $0.27. MagnaChip Semiconductor had a return on equity of 38.96% and a net margin of 47.11%. The company had revenue of $142.95 million during the quarter, compared to analysts' expectations of $131.70 million. Equities analysts expect that MagnaChip Semiconductor will post 0.35 EPS for the current fiscal year.
MagnaChip Semiconductor Company Profile
MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. It offers display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotives, entertainment devices, notebook PCs, monitors and liquid crystal displays, organic light emitting diodes, and micro light emitting diode (LED) televisions.
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