Roth Capital initiated coverage on shares of Magnachip Semiconductor Corp. (NYSE:MX) in a report released on Wednesday morning. The brokerage issued a buy rating and a $10.00 target price on the stock.
Magnachip Semiconductor Corp. (NYSE:MX) opened at 7.99 on Wednesday. The company’s market capitalization is $277.50 million. The firm has a 50-day moving average of $8.22 and a 200-day moving average of $6.17. Magnachip Semiconductor Corp. has a 52 week low of $3.10 and a 52 week high of $9.17.
Magnachip Semiconductor Corp. (NYSE:MX) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.20. The business earned $167.10 million during the quarter, compared to the consensus estimate of $159 million. Equities analysts expect that Magnachip Semiconductor Corp. will post ($0.78) earnings per share for the current fiscal year.
In other Magnachip Semiconductor Corp. news, major shareholder Pleasant Lake Partners Llc sold 58,000 shares of the business’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 Securities & Exchange Commission, which is available at this link. 4.20% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of MX. Smith Asset Management Group LP bought a new position in Magnachip Semiconductor Corp. during the second quarter worth about $129,000. Picton Mahoney Asset Management bought a new position in Magnachip Semiconductor Corp. during the second quarter worth about $133,000. State Street Corp boosted its position in Magnachip Semiconductor Corp. by 2.4% in the second quarter. State Street Corp now owns 38,950 shares of the company’s stock worth $220,000 after buying an additional 915 shares in the last quarter. Hollencrest Securities LLC boosted its position in Magnachip Semiconductor Corp. by 46.8% in the second quarter. Hollencrest Securities LLC now owns 90,900 shares of the company’s stock worth $514,000 after buying an additional 29,000 shares in the last quarter. Finally, Bogle Investment Management L P DE bought a new position in Magnachip Semiconductor Corp. during the first quarter worth about $578,000. 76.38% of the stock is owned by institutional investors.
About Magnachip Semiconductor Corp.
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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