MagnaChip Semiconductor Corporation (MX) to Release Earnings on Wednesday
MagnaChip Semiconductor Corporation (NYSE:MX) is scheduled to be posting its quarterly earnings results after the market closes on Wednesday, November 1st. Analysts expect MagnaChip Semiconductor Corporation to post earnings of $0.24 per share for the quarter.
MagnaChip Semiconductor Corporation (NYSE:MX) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.21 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.17. The company had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $165.00 million. The business’s quarterly revenue was down .2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) EPS. On average, analysts expect MagnaChip Semiconductor Corporation to post $0.71 EPS for the current fiscal year and $0.93 EPS for the next fiscal year.
MagnaChip Semiconductor Corporation (MX) traded down 0.242% during mid-day trading on Tuesday, hitting $10.325. 116,536 shares of the stock traded hands. The company has a market cap of $351.42 million, a P/E ratio of 22.544 and a beta of -0.33. The company’s 50 day moving average is $11.02 and its 200 day moving average is $10.22. MagnaChip Semiconductor Corporation has a 12 month low of $5.20 and a 12 month high of $12.75.
A number of equities analysts recently weighed in on the stock. ValuEngine lowered shares of MagnaChip Semiconductor Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Zacks Investment Research lowered shares of MagnaChip Semiconductor Corporation from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of MagnaChip Semiconductor Corporation in a research report on Friday, September 8th. BidaskClub upgraded shares of MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Finally, Citigroup Inc. upped their target price on shares of MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. MagnaChip Semiconductor Corporation presently has a consensus rating of “Hold” and a consensus price target of $13.00.
In other MagnaChip Semiconductor Corporation news, Director Camillo Martino acquired 10,000 shares of the stock in a transaction on Monday, August 14th. The stock was acquired at an average price of $10.25 per share, for a total transaction of $102,500.00. Following the completion of the transaction, the director now directly owns 31,916 shares of the company’s stock, valued at $327,139. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tavakoli Nader acquired 39,100 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $10.67 per share, with a total value of $417,197.00. Following the transaction, the director now directly owns 67,686 shares of the company’s stock, valued at $722,209.62. The disclosure for this purchase can be found here. 3.80% of the stock is owned by company insiders.
A hedge fund recently bought a new stake in MagnaChip Semiconductor Corporation stock. Northern Trust Corp acquired a new stake in shares of MagnaChip Semiconductor Corporation (NYSE:MX) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 11,378 shares of the semiconductor company’s stock, valued at approximately $111,000. 94.17% of the stock is owned by institutional investors and hedge funds.
About MagnaChip Semiconductor Corporation
MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.
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