Magnachip Semiconductor (NYSE:MX) Trading Down 2.4%

Magnachip Semiconductor Co. (NYSE:MXGet Rating)’s stock price dropped 2.4% during trading on Tuesday . The company traded as low as $16.39 and last traded at $16.40. Approximately 1,705 shares were traded during mid-day trading, a decline of 100% from the average daily volume of 347,784 shares. The stock had previously closed at $16.80.

A number of equities research analysts have recently commented on MX shares. StockNews.com raised Magnachip Semiconductor from a “hold” rating to a “buy” rating in a research report on Wednesday, June 1st. Roth Capital reissued a “buy” rating on shares of Magnachip Semiconductor in a research report on Wednesday, May 4th. Finally, Needham & Company LLC reissued a “buy” rating and set a $25.00 price target on shares of Magnachip Semiconductor in a research report on Wednesday, May 4th.

The stock has a 50 day simple moving average of $17.66 and a 200 day simple moving average of $17.91. The company has a market cap of $727.67 million, a price-to-earnings ratio of 10.84, a PEG ratio of 0.93 and a beta of 0.94.

Magnachip Semiconductor (NYSE:MXGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The semiconductor company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.03. The company had revenue of $104.09 million for the quarter, compared to analysts’ expectations of $106.15 million. Magnachip Semiconductor had a return on equity of 10.61% and a net margin of 16.19%. During the same quarter in the previous year, the firm posted $0.18 earnings per share. On average, research analysts anticipate that Magnachip Semiconductor Co. will post 0.67 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE lifted its stake in shares of Magnachip Semiconductor by 39.3% in the first quarter. Bank of America Corp DE now owns 259,160 shares of the semiconductor company’s stock worth $4,382,000 after acquiring an additional 73,061 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in Magnachip Semiconductor by 37.3% in the first quarter. Rice Hall James & Associates LLC now owns 241,764 shares of the semiconductor company’s stock valued at $4,088,000 after buying an additional 65,634 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Magnachip Semiconductor by 5,430.0% in the first quarter. BNP Paribas Arbitrage SA now owns 2,212 shares of the semiconductor company’s stock valued at $37,000 after buying an additional 2,172 shares during the last quarter. Gabelli Funds LLC increased its holdings in Magnachip Semiconductor by 2.2% in the first quarter. Gabelli Funds LLC now owns 284,925 shares of the semiconductor company’s stock valued at $4,818,000 after buying an additional 6,000 shares during the last quarter. Finally, GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Magnachip Semiconductor by 24.0% during the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 188,129 shares of the semiconductor company’s stock valued at $3,181,000 after purchasing an additional 36,384 shares during the last quarter. Institutional investors and hedge funds own 70.88% of the company’s stock.

About Magnachip Semiconductor (NYSE:MX)

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.

See Also

Want More Great Investing Ideas?

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.