Shares of Magnachip Semiconductor Corp (NYSE:MX) saw unusually-high trading volume on Wednesday . Approximately 1,586,405 shares changed hands during trading, an increase of 419% from the previous session’s volume of 305,747 shares.The stock last traded at $9.90 and had previously closed at $8.83.

MX has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. ValuEngine upgraded shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating in a report on Tuesday, April 23rd. Finally, TheStreet lowered shares of Magnachip Semiconductor from a “c” rating to a “d+” rating in a report on Friday, February 15th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Magnachip Semiconductor currently has an average rating of “Hold” and a consensus price target of $10.50.

The firm has a market capitalization of $345.66 million, a price-to-earnings ratio of 13.89 and a beta of 0.66.

Magnachip Semiconductor (NYSE:MX) last announced its quarterly earnings data on Tuesday, April 30th. The semiconductor company reported ($0.58) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.58). The firm had revenue of $157.40 million during the quarter, compared to analyst estimates of $152.50 million. Magnachip Semiconductor had a negative net margin of 5.49% and a negative return on equity of 20.36%. The business’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. Equities analysts anticipate that Magnachip Semiconductor Corp will post -0.87 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cohen Capital Management Inc. lifted its holdings in shares of Magnachip Semiconductor by 1.0% in the 4th quarter. Cohen Capital Management Inc. now owns 269,424 shares of the semiconductor company’s stock worth $1,673,000 after acquiring an additional 2,700 shares during the last quarter. Two Sigma Investments LP increased its stake in shares of Magnachip Semiconductor by 4.4% in the fourth quarter. Two Sigma Investments LP now owns 75,075 shares of the semiconductor company’s stock worth $466,000 after buying an additional 3,197 shares during the period. Quantamental Technologies LLC purchased a new position in shares of Magnachip Semiconductor in the first quarter worth $26,000. BlackRock Inc. purchased a new position in shares of Magnachip Semiconductor in the fourth quarter worth $41,000. Finally, Menta Capital LLC increased its stake in shares of Magnachip Semiconductor by 14.5% in the fourth quarter. Menta Capital LLC now owns 63,971 shares of the semiconductor company’s stock worth $397,000 after buying an additional 8,100 shares during the period. Hedge funds and other institutional investors own 88.75% of the company’s stock.

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Magnachip Semiconductor Company Profile (NYSE:MX)

MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.

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