Brokers Issue Forecasts for Magnachip Semiconductor Corp.’s Q3 2016 Earnings (MX)
Magnachip Semiconductor Corp. (NYSE:MX) – Equities research analysts at Roth Capital issued their Q3 2016 earnings per share estimates for Magnachip Semiconductor Corp. in a report issued on Wednesday. Roth Capital analyst S. Desilva expects that the firm will post earnings per share of ($0.08) for the quarter. Roth Capital currently has a “Buy” rating and a $10.00 target price on the stock. Roth Capital also issued estimates for Magnachip Semiconductor Corp.’s Q4 2016 earnings at ($0.11) EPS, FY2016 earnings at ($0.47) EPS, Q1 2017 earnings at ($0.16) EPS, Q2 2017 earnings at ($0.01) EPS, Q3 2017 earnings at $0.12 EPS, Q4 2017 earnings at $0.12 EPS and FY2017 earnings at $0.07 EPS.
Magnachip Semiconductor Corp. (NYSE:MX) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.20. The business earned $167.10 million during the quarter, compared to analysts’ expectations of $159 million.
Magnachip Semiconductor Corp. (NYSE:MX) opened at 8.17 on Monday. The stock’s market cap is $283.75 million. The stock has a 50 day moving average of $8.28 and a 200 day moving average of $6.24. Magnachip Semiconductor Corp. has a 1-year low of $3.10 and a 1-year high of $9.17.
In other news, major shareholder Pleasant Lake Partners Llc sold 58,000 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $7.49, for a total value of $434,420.00. The transaction was disclosed in a filing with the SEC, which is available through this link. 4.20% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Smith Asset Management Group LP purchased a new stake in shares of Magnachip Semiconductor Corp. during the second quarter valued at approximately $129,000. Picton Mahoney Asset Management purchased a new stake in shares of Magnachip Semiconductor Corp. during the second quarter valued at approximately $133,000. State Street Corp increased its stake in shares of Magnachip Semiconductor Corp. by 2.4% in the second quarter. State Street Corp now owns 38,950 shares of the company’s stock valued at $220,000 after buying an additional 915 shares during the period. Hollencrest Securities LLC increased 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 valued at $514,000 after buying an additional 29,000 shares during the period. Finally, Bogle Investment Management L P DE purchased a new stake in shares of Magnachip Semiconductor Corp. during the first quarter valued at approximately $578,000. 76.38% of the stock is currently owned by institutional investors.
Magnachip Semiconductor Corp. Company Profile
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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