Magnachip Semiconductor (MX) Reaches New 1-Year Low at $6.15

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Magnachip Semiconductor Corp (NYSE:MX)’s share price hit a new 52-week low on Thursday . The stock traded as low as $6.15 and last traded at $6.34, with a volume of 11699 shares changing hands. The stock had previously closed at $6.85.

Several research firms recently commented on MX. Zacks Investment Research upgraded Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Tuesday, August 14th. ValuEngine downgraded Magnachip Semiconductor from a “hold” rating to a “sell” rating in a report on Tuesday, October 2nd. Roth Capital reduced their price objective on Magnachip Semiconductor from $18.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, October 23rd. Finally, Citigroup reduced their price objective on Magnachip Semiconductor from $12.00 to $9.40 and set a “neutral” rating for the company in a report on Thursday, November 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.47.

The firm has a market capitalization of $227.81 million, a P/E ratio of 8.41 and a beta of 0.44.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.26 by $0.06. Magnachip Semiconductor had a negative return on equity of 108.44% and a net margin of 5.65%. The company had revenue of $206.00 million during the quarter, compared to the consensus estimate of $205.00 million. During the same period last year, the company earned $0.28 EPS. Magnachip Semiconductor’s revenue for the quarter was up 16.6% on a year-over-year basis. Research analysts predict that Magnachip Semiconductor Corp will post 0.44 earnings per share for the current fiscal year.

A number of large investors have recently made changes to their positions in MX. Tower Research Capital LLC TRC boosted its position in Magnachip Semiconductor by 1,015.1% in the third quarter. Tower Research Capital LLC TRC now owns 11,508 shares of the semiconductor company’s stock worth $114,000 after purchasing an additional 10,476 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Magnachip Semiconductor in the third quarter worth about $123,000. Trexquant Investment LP purchased a new position in Magnachip Semiconductor in the third quarter worth about $125,000. Engineers Gate Manager LP purchased a new position in Magnachip Semiconductor in the third quarter worth about $206,000. Finally, Paloma Partners Management Co purchased a new position in Magnachip Semiconductor in the second quarter worth about $277,000. 89.66% of the stock is currently owned by institutional investors and hedge funds.

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About Magnachip Semiconductor (NYSE:MX)

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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