Magnachip Semiconductor (NYSE:MX) Announces Earnings Results

Magnachip Semiconductor (NYSE:MX) announced its quarterly earnings results on Thursday. The semiconductor company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05, MarketWatch Earnings reports. Magnachip Semiconductor had a negative return on equity of 172.13% and a net margin of 3.65%. The firm had revenue of $118.83 million for the quarter, compared to analysts’ expectations of $117.70 million. Magnachip Semiconductor updated its Q3 2020
After-Hours guidance to EPS.

Magnachip Semiconductor stock traded up $0.03 on Friday, reaching $11.38. The company’s stock had a trading volume of 970,633 shares, compared to its average volume of 297,548. The company has a market cap of $399.04 million, a price-to-earnings ratio of 24.74 and a beta of 1.10. The business’s fifty day moving average price is $10.60 and its 200 day moving average price is $11.46. Magnachip Semiconductor has a twelve month low of $6.30 and a twelve month high of $16.06.

A number of brokerages have weighed in on MX. Zacks Investment Research cut Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Wednesday, June 17th. Needham & Company LLC reiterated a “buy” rating and issued a $18.00 price target on shares of Magnachip Semiconductor in a research report on Friday. Finally, ValuEngine upgraded Magnachip Semiconductor from a “strong sell” rating to a “sell” rating in a research report on Friday, July 24th.

In other Magnachip Semiconductor news, Director Camillo Martino acquired 10,000 shares of Magnachip Semiconductor stock in a transaction on Tuesday, June 2nd. The shares were bought at an average price of $11.57 per share, with a total value of $115,700.00. 5.20% of the stock is currently owned by insiders.

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.

Further Reading: Secondary Public Offerings

Earnings History for Magnachip Semiconductor (NYSE:MX)

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