In the last trading session, 3,190,000,000 shares of the MagnaChip Semiconductor Corporation (NYSE:MX) were traded, and its beta was 1.07. Most recently the company’s share price was $26.73, and it changed around -$0.23 or -0.01% from the last close, which brings the market valuation of the company to $1.25 Billion. MX currently trades at a discount to its 52-week high of $26.81, offering almost -0.3% off that amount. The share price’s 52-week low was $9.47, which indicates that the current value has risen by an impressive 64.57% since then. We note from MagnaChip Semiconductor Corporation’s average daily trading volume that its 10-day average is 1.91 Million shares, with the 3-month average coming to 1.18 Million.
MagnaChip Semiconductor Corporation stock received a consensus recommendation rating of Overweight, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 3 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 1 recommended MX as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. MagnaChip Semiconductor Corporation is expected to report earnings per share of $0.14 for the current quarter.
MagnaChip Semiconductor Corporation (NYSE:MX): Trading Information
Although MX has showed a red trend with a performance of -0.85% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $26.98 on Monday, Apr 05 increased the stock’s daily price by 0.93%. The company’s shares are currently up 0.98% year-to-date, but still up 0.0369 over the last five days. On the other hand, MagnaChip Semiconductor Corporation (NYSE:MX) is 0.25% up in the 30-day period. We can see from the shorts that 2.98 Million shares have been sold at a short interest cover period of 2.53 day (s).
The consensus price target as assigned by Wall Street analysts is $26.67, which translates to bears needing to reduce their stock price by -0.22% from its current value. Analyst projections state that MX is forecast to be at a low of $20 and a high of $30. In order for the stock price to hit the forecast high, the stock would need to surge +12.23% from its current level, while the stock would need to crash -25.18% from its current level to reach the projected low.
MagnaChip Semiconductor Corporation (MX) projections and forecasts
MagnaChip Semiconductor Corporation share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +97.27 percent over the past six months and at a 13.7% annual growth rate that is well below the industry average of 17.2%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +366.7% in revenue this quarter, and will report an increase of 46.2% in the next quarter. The year-over-year growth rate is expected to be 5.4%, up from the previous year.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 20.1%. MagnaChip Semiconductor Corporation earnings are expected to increase by 306.3% in 2021, but the outlook is positive 38% per year for the next five years.
MagnaChip Semiconductor Corporation (NYSE:MX)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 2.65% of MagnaChip Semiconductor Corporation shares, and 78.39% of them are in the hands of institutional investors. The stock currently has a share float of 80.52%. MagnaChip Semiconductor Corporation stock is held by 149 institutions, with Oaktree Capital Management, LP being the largest institutional investor. By Dec 30, 2020, it held 6.97% of the shares, which is about 3.21 Million shares worth $43.46 Million.
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Federated Hermes, Inc., with 6.42% or 2.96 Million shares worth $40.01 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Federated Hermes Kaufmann Small Cap Fund and Evermore Global Value Fd were the top two Mutual Funds as of Jan 30, 2021. The former held 2959604 shares worth $50.28 Million, making up 6.42% of all outstanding shares. On the other hand, Evermore Global Value Fd held roughly 832.33 Thousand shares worth around $11.25 Million, which represents about 1.8% of the total shares outstanding.