MagnaChip Semiconductor Corporation (NYSE:MX) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued on Tuesday.

MX has been the topic of a number of other reports. BidaskClub upgraded MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating in a research report on Friday, August 25th. Zacks Investment Research upgraded MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research report on Thursday, August 10th. Citigroup Inc. increased their price objective on MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the company a “neutral” rating in a research report on Monday, August 7th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of MagnaChip Semiconductor Corporation in a research report on Friday, September 8th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $13.00.

Shares of MagnaChip Semiconductor Corporation (MX) traded down 1.39% during mid-day trading on Tuesday, reaching $10.65. The company’s stock had a trading volume of 203,255 shares. MagnaChip Semiconductor Corporation has a 12 month low of $5.20 and a 12 month high of $12.75. The firm has a market capitalization of $362.48 million, a P/E ratio of 23.25 and a beta of -0.33. The company has a 50 day moving average of $11.33 and a 200-day moving average of $10.10.

MagnaChip Semiconductor Corporation (NYSE:MX) last released its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.04 by $0.17. The business had revenue of $166.70 million for the quarter, compared to the consensus estimate of $165.00 million. The firm’s revenue was down .2% on a year-over-year basis. During the same quarter last year, the company earned ($0.05) earnings per share. Equities research analysts forecast that MagnaChip Semiconductor Corporation will post $0.78 EPS for the current year.

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In related news, Director Camillo Martino purchased 10,000 shares of the business’s stock in a transaction dated Monday, August 14th. The shares were bought at an average price of $10.25 per share, with a total value of $102,500.00. Following the purchase, the director now directly owns 31,916 shares in the company, valued at approximately $327,139. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Marc Lasry sold 4,088,978 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $10.98, for a total value of $44,896,978.44. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. Evermore Global Advisors LLC lifted its stake in shares of MagnaChip Semiconductor Corporation by 46.8% in the 2nd quarter. Evermore Global Advisors LLC now owns 2,331,205 shares of the semiconductor company’s stock valued at $22,846,000 after purchasing an additional 743,575 shares during the period. Rubric Capital Management LP lifted its stake in shares of MagnaChip Semiconductor Corporation by 13.2% in the 2nd quarter. Rubric Capital Management LP now owns 1,925,000 shares of the semiconductor company’s stock valued at $18,865,000 after purchasing an additional 225,000 shares during the period. Hood River Capital Management LLC lifted its stake in shares of MagnaChip Semiconductor Corporation by 24.0% in the 2nd quarter. Hood River Capital Management LLC now owns 1,570,550 shares of the semiconductor company’s stock valued at $15,391,000 after purchasing an additional 303,818 shares during the period. Morgan Stanley lifted its stake in shares of MagnaChip Semiconductor Corporation by 91.0% in the 1st quarter. Morgan Stanley now owns 916,194 shares of the semiconductor company’s stock valued at $8,749,000 after purchasing an additional 436,509 shares during the period. Finally, Alliancebernstein L.P. acquired a new position in shares of MagnaChip Semiconductor Corporation in the 2nd quarter valued at $7,774,000. 93.95% of the stock is currently owned by institutional investors.

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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