Magnachip Semiconductor (NYSE:MX) Upgraded at Barclays

Magnachip Semiconductor (NYSE:MX) was upgraded by analysts at Barclays to a “hold” rating in a note issued to investors on Tuesday, Zacks.com reports.

Separately, Needham & Company LLC lowered their price target on shares of Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st.

Magnachip Semiconductor Trading Up 2.8 %

Shares of MX stock opened at $4.48 on Tuesday. Magnachip Semiconductor has a 12-month low of $4.25 and a 12-month high of $8.50. The firm has a 50 day moving average price of $4.92 and a two-hundred day moving average price of $5.10. The company has a quick ratio of 4.34, a current ratio of 5.03 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $171.44 million, a PE ratio of -5.74 and a beta of 0.64.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.13. Magnachip Semiconductor had a negative return on equity of 10.29% and a negative net margin of 18.49%. The business had revenue of $53.17 million during the quarter, compared to analysts’ expectations of $51.45 million. As a group, analysts predict that Magnachip Semiconductor will post -1.13 earnings per share for the current year.

Hedge Funds Weigh In On Magnachip Semiconductor

A number of institutional investors have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in Magnachip Semiconductor by 4.4% in the 4th quarter. BNP Paribas Financial Markets now owns 196,838 shares of the semiconductor company’s stock valued at $1,476,000 after purchasing an additional 8,266 shares during the last quarter. Jump Financial LLC increased its holdings in shares of Magnachip Semiconductor by 237.3% during the fourth quarter. Jump Financial LLC now owns 68,135 shares of the semiconductor company’s stock worth $511,000 after buying an additional 47,935 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Magnachip Semiconductor in the 4th quarter valued at $374,000. Quest Partners LLC acquired a new stake in shares of Magnachip Semiconductor during the 4th quarter valued at $114,000. Finally, Aristides Capital LLC bought a new stake in Magnachip Semiconductor during the 4th quarter worth $177,000. Institutional investors and hedge funds own 74.26% of the company’s stock.

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.