Shares of Magnachip Semiconductor Corp (NYSE:MX) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $10.41.

Several equities analysts have recently issued reports on MX shares. Zacks Investment Research upgraded Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $7.25 target price for the company in a research report on Tuesday, January 15th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of Magnachip Semiconductor in a research report on Thursday, January 24th. Finally, TheStreet lowered Magnachip Semiconductor from a “c” rating to a “d+” rating in a research report on Friday, February 15th.

Magnachip Semiconductor stock opened at $8.36 on Tuesday. The stock has a market cap of $281.24 million, a PE ratio of 11.77 and a beta of 0.50. Magnachip Semiconductor has a 1 year low of $5.75 and a 1 year high of $13.06.

Magnachip Semiconductor (NYSE:MX) last posted its earnings results on Thursday, February 14th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.16. The company had revenue of $179.39 million during the quarter, compared to analyst estimates of $176.50 million. Magnachip Semiconductor had a negative return on equity of 110.27% and a negative net margin of 0.52%. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. Equities research analysts predict that Magnachip Semiconductor will post -0.63 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of MX. Evermore Global Advisors LLC lifted its stake in Magnachip Semiconductor by 0.7% in the 4th quarter. Evermore Global Advisors LLC now owns 3,238,956 shares of the semiconductor company’s stock valued at $20,114,000 after acquiring an additional 22,200 shares in the last quarter. Morgan Stanley lifted its stake in Magnachip Semiconductor by 8.6% in the 3rd quarter. Morgan Stanley now owns 1,580,730 shares of the semiconductor company’s stock valued at $15,649,000 after acquiring an additional 125,488 shares in the last quarter. Toronado Partners LLC bought a new stake in Magnachip Semiconductor in the 4th quarter valued at approximately $7,459,000. Point72 Asset Management L.P. lifted its stake in Magnachip Semiconductor by 5.8% in the 3rd quarter. Point72 Asset Management L.P. now owns 538,300 shares of the semiconductor company’s stock valued at $5,329,000 after acquiring an additional 29,300 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Magnachip Semiconductor by 26.6% in the 4th quarter. Millennium Management LLC now owns 511,951 shares of the semiconductor company’s stock valued at $3,179,000 after acquiring an additional 107,725 shares in the last quarter. Institutional investors and hedge funds own 89.32% of the company’s stock.

Magnachip Semiconductor Company Profile

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.

See Also: Why is the conference call important?

Receive News & Ratings for Magnachip Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnachip Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.