MagnaChip Semiconductor Corpora (NYSE:MX):
MagnaChip Reports Third Quarter 2016 Financial Results.
In the market the company is trading down from yesterday’s close of $8.45.
It is trading at $6.20 which is marginally lower than the 50 day moving average which is $8.21 and which is just under the 200 day moving average of $6.63. The 50 day moving average went down by -24.44% and the 200 day average was down $-0.43.
In the last earnings report the EPS was $-1.26 and is expected to be $-0.10 for the current year with 34,731,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $-0.09 and the next full year EPS is projected to be $0.36.
Brokerage analysts have issued ratings on MX. On September 29 analysts at Roth Capital released its first research report on the stock setting a rating of “Buy” and establishing a price target of $10.00. On May 29, 2015 Topeka Capital made no change to the price objective of $9.00 and boost the company to Buy from Hold.
On May 29 the stock rating was upgraded to “Buy” from “Hold” and a price target of $9.00 was set by Topeka Capital. April 22 investment analysts at Citigroup left the stock rating at “Neutral” but moved down the price target to $15.00 from $20.00.
On April 1 the company was downgraded from “Buy” to “Neutral” with a current price target of $23.00 in a statement from Chardan Capital. On March 31 the company was downgraded from “Neutral” to “Sell” in a report from UBS.