Magnachip Semiconductor (MX) Set to Announce Quarterly Earnings on Thursday

Magnachip Semiconductor (NYSE:MX) is scheduled to release its earnings data after the market closes on Thursday, May 2nd. Analysts expect Magnachip Semiconductor to post earnings of ($0.38) per share for the quarter. Magnachip Semiconductor has set its Q1 2024 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported ($0.26) earnings per share for the quarter, topping the consensus estimate of ($0.34) by $0.08. Magnachip Semiconductor had a negative return on equity of 7.85% and a negative net margin of 15.92%. The firm had revenue of $50.82 million for the quarter, compared to analysts’ expectations of $52.45 million. During the same quarter last year, the business earned ($0.39) EPS. On average, analysts expect Magnachip Semiconductor to post $-1 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Magnachip Semiconductor Stock Performance

Shares of NYSE MX opened at $4.84 on Thursday. Magnachip Semiconductor has a 52 week low of $4.72 and a 52 week high of $11.68. The stock has a market capitalization of $184.99 million, a P/E ratio of -5.56 and a beta of 0.78. The stock’s fifty day moving average is $5.63 and its 200 day moving average is $6.60.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MX shares. Needham & Company LLC decreased their price objective on Magnachip Semiconductor from $13.00 to $10.00 and set a “buy” rating for the company in a report on Thursday, February 29th. StockNews.com upgraded Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, March 9th.

About Magnachip Semiconductor

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.