StockNews.com Downgrades Magnachip Semiconductor (NYSE:MX) to Sell

StockNews.com cut shares of Magnachip Semiconductor (NYSE:MX) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.

MX has been the topic of a number of other research reports. Barclays upgraded shares of Magnachip Semiconductor to a “hold” rating in a report on Tuesday, September 10th. Needham & Company LLC reduced their price objective on shares of Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st.

Magnachip Semiconductor Price Performance

Shares of MX traded down $0.10 during trading hours on Thursday, reaching $4.31. The stock had a trading volume of 17,391 shares, compared to its average volume of 281,308. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.34 and a current ratio of 5.03. Magnachip Semiconductor has a 12 month low of $4.25 and a 12 month high of $8.16. The stock has a market capitalization of $161.45 million, a PE ratio of -3.81 and a beta of 0.64. The company’s 50-day moving average is $4.68 and its two-hundred day moving average is $4.87.

Magnachip Semiconductor (NYSE:MX) last issued its quarterly earnings data 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 business had revenue of $66.46 million during the quarter, compared to the consensus estimate of $64.05 million. Research analysts expect that Magnachip Semiconductor will post -1.13 EPS for the current year.

Institutional Trading of Magnachip Semiconductor

Large investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of 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 bought a new position in Magnachip Semiconductor in the second quarter worth approximately $29,000. Citizens Financial Group Inc. RI acquired a new stake in Magnachip Semiconductor in the first quarter valued at approximately $89,000. Algert Global LLC increased its holdings in shares of Magnachip Semiconductor by 15.0% during the second quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock valued at $92,000 after acquiring an additional 2,470 shares in the last quarter. Finally, Quadrature Capital Ltd raised its position in shares of Magnachip Semiconductor by 93.4% during the first quarter. Quadrature Capital Ltd now owns 43,045 shares of the semiconductor company’s stock worth $240,000 after purchasing an additional 20,790 shares during the period. 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.