Magnachip Semiconductor (NYSE:MX) Cut to Sell at StockNews.com

Magnachip Semiconductor (NYSE:MX) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

Several other equities analysts have also recently weighed in on the company. Barclays upgraded Magnachip Semiconductor to a “hold” rating in a report on Tuesday, September 10th. Needham & Company LLC cut their price target on shares of Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st.

Magnachip Semiconductor Stock Down 13.4 %

Shares of NYSE MX opened at $3.82 on Thursday. Magnachip Semiconductor has a 52-week low of $3.80 and a 52-week high of $8.16. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.34 and a current ratio of 5.03. The stock has a market cap of $143.10 million, a P/E ratio of -3.29 and a beta of 0.64. The firm has a 50 day moving average price of $4.66 and a 200 day moving average price of $4.86.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings data on Wednesday, October 30th. The semiconductor company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.15). The firm had revenue of $66.46 million during the quarter, compared to the consensus estimate of $64.05 million. Magnachip Semiconductor had a negative net margin of 20.08% and a negative return on equity of 14.04%. Analysts expect that Magnachip Semiconductor will post -1.13 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Algert Global LLC boosted its stake in shares of Magnachip Semiconductor by 15.0% during the 2nd quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock worth $92,000 after acquiring an additional 2,470 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Magnachip Semiconductor by 177.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 2,994 shares during the last quarter. Founders Capital Management bought a new position in Magnachip Semiconductor during the second quarter worth $29,000. American Century Companies Inc. increased its holdings in shares of Magnachip Semiconductor by 13.4% in the second quarter. American Century Companies Inc. now owns 57,173 shares of the semiconductor company’s stock valued at $278,000 after purchasing an additional 6,777 shares during the last quarter. Finally, Quantbot Technologies LP raised its position in shares of Magnachip Semiconductor by 28.8% in the first quarter. Quantbot Technologies LP now owns 43,326 shares of the semiconductor company’s stock valued at $242,000 after purchasing an additional 9,686 shares during the period. Institutional investors and hedge funds own 74.26% of the company’s stock.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.