Zacks: Brokerages Anticipate Magnachip Semiconductor Co. (NYSE:MX) Will Announce Earnings of $0.21 Per Share

Brokerages expect that Magnachip Semiconductor Co. (NYSE:MX – Get Rating) will report earnings per share (EPS) of $0.21 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Magnachip Semiconductor’s earnings, with the lowest EPS estimate coming in at $0.15 and the highest estimate coming in at $0.26. Magnachip Semiconductor reported earnings per share of $0.15 in the same quarter last year, which would suggest a positive year-over-year growth rate of 40%. The business is expected to report its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Magnachip Semiconductor will report full year earnings of $0.88 per share for the current fiscal year, with EPS estimates ranging from $0.75 to $1.01. For the next year, analysts anticipate that the business will post earnings of $1.53 per share, with EPS estimates ranging from $1.50 to $1.55. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Magnachip Semiconductor.

Magnachip Semiconductor (NYSE:MX – Get Rating) last posted its earnings results on Tuesday, May 3rd. The semiconductor company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.03. Magnachip Semiconductor had a net margin of 16.19% and a return on equity of 10.61%. The company had revenue of $104.09 million during the quarter, compared to analysts’ expectations of $106.15 million. During the same quarter in the previous year, the company posted $0.18 earnings per share.

Several research firms recently weighed in on MX. Roth Capital restated a “buy” rating on shares of Magnachip Semiconductor in a research report on Wednesday, May 4th. StockNews.com upgraded shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Magnachip Semiconductor from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 10th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price on shares of Magnachip Semiconductor in a research report on Wednesday, May 4th.

MX stock opened at $19.81 on Friday. The company has a 50 day moving average price of $17.25 and a 200 day moving average price of $17.96. Magnachip Semiconductor has a fifty-two week low of $14.66 and a fifty-two week high of $26.90. The stock has a market capitalization of $889.35 million, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.08 and a beta of 0.94.

Hedge funds have recently made changes to their positions in the company. Citigroup Inc. grew its holdings in shares of Magnachip Semiconductor by 95.2% in the 1st quarter. Citigroup Inc. now owns 1,503 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 733 shares during the period. Ancora Advisors LLC acquired a new position in Magnachip Semiconductor in the 1st quarter worth $50,000. PenderFund Capital Management Ltd. acquired a new position in Magnachip Semiconductor in the 4th quarter worth $56,000. BNP Paribas Arbitrage SA boosted its stake in Magnachip Semiconductor by 5,430.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,212 shares of the semiconductor company’s stock worth $37,000 after purchasing an additional 2,172 shares during the period. Finally, Covestor Ltd acquired a new position in Magnachip Semiconductor in the 1st quarter worth $65,000. 70.88% of the stock is owned by institutional investors.

Magnachip Semiconductor Company Profile (Get Rating)

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, 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, notebook PCs, monitors and liquid crystal displays, and micro light-emitting diode (LED) televisions.

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