1 day Ago By ABMN Staff
Magnachip Semiconductor ( NYSE:MX – Get Free Report ) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday. Several other analysts have also recently commented on the company.
Barclays upgraded Magnachip Semiconductor to a “hold” rating in a report on Tuesday, September 10th. Needham & Company LLC decreased their price objective on shares of Magnachip Semiconductor from $8.00 to $7.
00 and set a “buy” rating on the stock in a report on Thursday, August 1st. Get Our Latest Analysis on Magnachip Semiconductor Magnachip Semiconductor Trading Down 0.9 % Magnachip Semiconductor ( NYSE:MX – Get Free Report ) last posted its earnings results on Wednesday, July 31st.
The semiconductor company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.
13. The company had revenue of $53.17 million during the quarter, compared to analysts’ expectations of $51.
45 million. Magnachip Semiconductor had a negative net margin of 18.49% and a negative return on equity of 10.
29%. Research analysts forecast that Magnachip Semiconductor will post -1.13 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Magnachip Semiconductor Large investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in Magnachip Semiconductor by 177.0% in the first quarter.
Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock valued at $26,000 after acquiring an additional 2,994 shares during the last quarter. Founders Capital Management acquired a new position in shares of Magnachip Semiconductor in the 2nd quarter valued at $29,000. Citizens Financial Group Inc.
RI bought a new position in shares of Magnachip Semiconductor in the 1st quarter worth $89,000. Algert Global LLC grew its stake in shares of Magnachip Semiconductor by 15.0% during the second quarter.
Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock worth $92,000 after purchasing an additional 2,470 shares during the period. Finally, Quest Partners LLC bought a new stake in Magnachip Semiconductor in the fourth quarter valued at about $114,000. Institutional investors and hedge funds own 74.
26% of the company’s stock. About Magnachip Semiconductor ( Get Free Report ) 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.
See Also Receive News & Ratings for Magnachip Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnachip Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter ..
