StockNews.com downgraded shares of Magnachip Semiconductor (NYSE:MX – Free Report) from a hold rating to a sell rating in a research note released on Thursday morning.
Several other equities analysts also recently commented on MX. 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. Barclays upgraded shares of Magnachip Semiconductor to a “hold” rating in a research note on Tuesday, September 10th.
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Magnachip Semiconductor Stock Down 2.3 %
Magnachip Semiconductor (NYSE:MX – Get Free Report) last issued its earnings results on Wednesday, October 30th. The semiconductor company reported ($0.39) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.15). Magnachip Semiconductor had a negative net margin of 20.08% and a negative return on equity of 14.04%. The firm had revenue of $66.46 million during the quarter, compared to the consensus estimate of $64.05 million. Equities analysts expect that Magnachip Semiconductor will post -1.13 EPS for the current year.
Hedge Funds Weigh In On Magnachip Semiconductor
A number of hedge funds have recently bought and sold shares of MX. Allspring Global Investments Holdings LLC increased its holdings in 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 valued at $26,000 after buying an additional 2,994 shares during the period. Founders Capital Management acquired a new position in Magnachip Semiconductor during the second quarter valued at approximately $29,000. Citizens Financial Group Inc. RI bought a new stake in Magnachip Semiconductor during the first quarter worth $89,000. Algert Global LLC boosted its holdings in shares of Magnachip Semiconductor by 15.0% in the 2nd quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock valued at $92,000 after purchasing an additional 2,470 shares in the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of Magnachip Semiconductor by 93.4% in the 1st quarter. Quadrature Capital Ltd now owns 43,045 shares of the semiconductor company’s stock valued at $240,000 after purchasing an additional 20,790 shares during the last quarter. 74.26% of the stock is 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.
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