TheStreet downgraded shares of MagnaChip Semiconductor Corporation (NYSE:MX) from a c- rating to a d rating in a research report sent to investors on Thursday.

A number of other research analysts have also recently weighed in on MX. Zacks Investment Research raised shares of MagnaChip Semiconductor Corporation from a hold rating to a buy rating and set a $13.00 price objective for the company in a report on Thursday, August 10th. BidaskClub raised shares of MagnaChip Semiconductor Corporation from a hold rating to a buy rating in a report on Friday, August 25th. ValuEngine cut shares of MagnaChip Semiconductor Corporation from a hold rating to a sell rating in a report on Tuesday, October 17th. Needham & Company LLC reaffirmed a buy rating and issued a $13.00 price objective (up previously from $10.00) on shares of MagnaChip Semiconductor Corporation in a report on Thursday, July 13th. Finally, Citigroup Inc. lifted their price objective on shares of MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the company a neutral rating in a report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $13.00.

Shares of MagnaChip Semiconductor Corporation (NYSE:MX) traded up $0.30 during trading on Thursday, hitting $11.10. 282,640 shares of the company traded hands, compared to its average volume of 363,185. The company has a debt-to-equity ratio of -4.29, a current ratio of 2.25 and a quick ratio of 1.80. MagnaChip Semiconductor Corporation has a 12-month low of $5.20 and a 12-month high of $12.75.

MagnaChip Semiconductor Corporation (NYSE:MX) last issued its earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.17. The business had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $165.00 million. During the same period last year, the business earned ($0.05) EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. equities analysts anticipate that MagnaChip Semiconductor Corporation will post 0.71 earnings per share for the current fiscal year.

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

Several hedge funds have recently added to or reduced their stakes in MX. Alliancebernstein L.P. purchased a new stake in shares of MagnaChip Semiconductor Corporation during the second quarter worth about $7,774,000. Evermore Global Advisors LLC increased its stake in shares of MagnaChip Semiconductor Corporation by 46.8% during the second quarter. Evermore Global Advisors LLC now owns 2,331,205 shares of the semiconductor company’s stock worth $22,846,000 after purchasing an additional 743,575 shares in the last quarter. Morgan Stanley increased its stake in shares of MagnaChip Semiconductor Corporation by 91.0% during the first quarter. Morgan Stanley now owns 916,194 shares of the semiconductor company’s stock worth $8,749,000 after purchasing an additional 436,509 shares in the last quarter. Hood River Capital Management LLC increased its stake in shares of MagnaChip Semiconductor Corporation by 24.0% during the second quarter. Hood River Capital Management LLC now owns 1,570,550 shares of the semiconductor company’s stock worth $15,391,000 after purchasing an additional 303,818 shares in the last quarter. Finally, Rubric Capital Management LP increased its stake in shares of MagnaChip Semiconductor Corporation by 13.2% during the second quarter. Rubric Capital Management LP now owns 1,925,000 shares of the semiconductor company’s stock worth $18,865,000 after purchasing an additional 225,000 shares in the last quarter. 94.11% of the stock is owned by institutional investors and hedge funds.

MagnaChip Semiconductor Corporation Company Profile

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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