Magnachip Semiconductor Corp. (MX) Receives New Coverage from Analysts at Roth Capital
Roth Capital began coverage on shares of Magnachip Semiconductor Corp. (NYSE:MX) in a research report sent to investors on Wednesday. The firm issued a buy rating and a $10.00 target price on the stock.
Shares of Magnachip Semiconductor Corp. (NYSE:MX) opened at 7.99 on Wednesday. The firm has a 50-day moving average price of $8.22 and a 200-day moving average price of $6.17. The firm’s market capitalization is $277.50 million. Magnachip Semiconductor Corp. has a 52-week low of $3.10 and a 52-week high of $9.17.
Magnachip Semiconductor Corp. (NYSE:MX) last released its earnings results on Wednesday, August 3rd. The company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.20. The company earned $167.10 million during the quarter, compared to the consensus estimate of $159 million. On average, equities research analysts anticipate that Magnachip Semiconductor Corp. will post ($0.78) EPS for the current year.
In other news, major shareholder Pleasant Lake Partners Llc sold 58,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were sold at an average price of $7.49, for a total transaction of $434,420.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.20% of the company’s stock.
Several hedge funds have recently modified their holdings of MX. Granite Investment Partners LLC bought a new stake in shares of Magnachip Semiconductor Corp. during the first quarter worth $1,006,000. Bogle Investment Management L P DE bought a new stake in shares of Magnachip Semiconductor Corp. during the first quarter worth $578,000. Kennedy Capital Management Inc. bought a new stake in shares of Magnachip Semiconductor Corp. during the first quarter worth $4,646,000. A.R.T. Advisors LLC raised its stake in shares of Magnachip Semiconductor Corp. by 204.4% in the first quarter. A.R.T. Advisors LLC now owns 107,221 shares of the company’s stock worth $583,000 after buying an additional 72,000 shares in the last quarter. Finally, Hollencrest Securities LLC raised its stake in shares of Magnachip Semiconductor Corp. by 46.8% in the second quarter. Hollencrest Securities LLC now owns 90,900 shares of the company’s stock worth $514,000 after buying an additional 29,000 shares in the last quarter. 76.38% of the stock is owned by institutional investors and hedge funds.
About Magnachip Semiconductor Corp.
MagnaChip Semiconductor Corporation is a holding company, which designs and manufactures 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 applications.
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