Magnachip Semiconductor (NYSE:MX) Rating Increased to Buy during Zacks Investment Research

Magnachip Semiconductor (NYSE:MX) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a note released to investors on Saturday, Zacks.com reports. The brokerage currently has a $11.00 cost design on a semiconductor company’s stock. Zacks Investment Research‘s aim cost indicates a intensity upside of 8.48% from a stock’s prior close.

According to Zacks, “MagnaChip Semiconductor Corporation operates as a engineer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer applications. The Company operates by 3 pivotal segments: Display Solutions, Power Solutions and Semiconductor Manufacturing Services. Products offering by MagnaChip by a Display Solutions shred includes source and embankment drivers and timing controllers that cover a far-reaching operation of prosaic row displays used in LCD, light emitting diode, or LED, and 3D televisions and displays, mobile PCs and mobile communications and party devices. The Power Solutions products embody dissimilar and integrated circuit solutions for energy government in high-volume consumer applications. Semiconductor Manufacturing Services shred provides specialty analog and mixed-signal foundry services for fabless semiconductor companies. MagnaChip Semiconductor Corporation is headquartered in Chungbuk, South Korea. “

Several other equities investigate analysts have also released reports on MX. TheStreet lowered shares of Magnachip Semiconductor from a “c” rating to a “d+” rating in a investigate note on Friday, Feb 15th. ValuEngine upgraded shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating in a investigate note on Wednesday. Finally, Citigroup set a $9.00 cost aim on shares of Magnachip Semiconductor and gave a association a “hold” rating in a investigate note on Thursday, May 2nd. One researcher has rated a batch with a reason rating and 4 have released a buy rating to a company’s stock. Magnachip Semiconductor has an normal rating of “Buy” and an normal cost aim of $10.75.

Shares of MX stock non-stop during $10.14 on Friday. Magnachip Semiconductor has a 1 year low of $5.75 and a 1 year high of $13.06. The organisation has a marketplace capitalization of $347.03 million, a price-to-earnings ratio of 14.28 and a beta of 0.66.

Magnachip Semiconductor (NYSE:MX) final released a quarterly gain formula on Tuesday, Apr 30th. The semiconductor association reported ($0.58) gain per share (EPS) for a quarter, assembly a accord guess of ($0.58). Magnachip Semiconductor had a disastrous net domain of 5.49% and a disastrous lapse on equity of 20.36%. The organisation had income of $157.40 million for a quarter, compared to researcher estimates of $152.50 million. During a same duration in a prior year, a business warranted $0.04 EPS. The company’s income was down 5.1% compared to a same entertain final year. Equities investigate analysts expect that Magnachip Semiconductor will post -0.87 gain per share for a stream mercantile year.

Institutional investors have recently combined to or reduced their stakes in a company. Quantamental Technologies LLC acquired a new position in shares of Magnachip Semiconductor during a 1st entertain value about $26,000. BlackRock Inc. acquired a new position in shares of Magnachip Semiconductor during a 4th entertain value about $41,000. PEAK6 Investments LLC acquired a new position in shares of Magnachip Semiconductor during a 4th entertain value about $79,000. Envestnet Asset Management Inc. bought a new interest in shares of Magnachip Semiconductor during a 1st entertain value about $173,000. Finally, James Investment Research Inc. bought a new interest in shares of Magnachip Semiconductor during a 1st entertain value about $386,000. Institutional investors possess 88.75% of a company’s stock.

About Magnachip Semiconductor

MagnaChip Semiconductor Corporation, together with a subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor height solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The association operates by dual segments, Foundry Services Group and Standard Products Group.

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