Magnachip Semiconductor (NYSE:MX) Issues Earnings Results

Magnachip Semiconductor (NYSE:MX) posted its earnings results on Thursday. The semiconductor company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05, MarketWatch Earnings reports. Magnachip Semiconductor had a net margin of 3.65% and a negative return on equity of 172.13%. The business had revenue of $118.83 million during the quarter, compared to the consensus estimate of $117.70 million. Magnachip Semiconductor updated its Q3 2020
After-Hours guidance to EPS.

NYSE MX traded up $0.03 on Friday, hitting $11.38. 970,633 shares of the stock were exchanged, compared to its average volume of 297,548. Magnachip Semiconductor has a fifty-two week low of $6.30 and a fifty-two week high of $16.06. The company has a market cap of $399.04 million, a PE ratio of 24.74 and a beta of 1.10. The company has a 50-day moving average price of $10.60 and a 200-day moving average price of $11.46.

In related news, Director Camillo Martino acquired 10,000 shares of Magnachip Semiconductor stock in a transaction dated Tuesday, June 2nd. The stock was acquired at an average price of $11.57 per share, for a total transaction of $115,700.00. Insiders own 5.20% of the company’s stock.

Several research analysts have recently weighed in on MX shares. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Magnachip Semiconductor in a research note on Friday. ValuEngine upgraded shares of Magnachip Semiconductor from a “strong sell” rating to a “sell” rating in a research note on Friday, July 24th. Finally, Zacks Investment Research cut shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research note on Wednesday, June 17th.

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. The company operates through two segments, Foundry Services Group and Standard Products Group.

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Earnings History for Magnachip Semiconductor (NYSE:MX)

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