Magnachip Semiconductor (MX) to Release Quarterly Earnings on Thursday

Posted by AM Reporter Staff on Apr 30th, 2024

Magnachip Semiconductor (NYSE:MX – Get Free Report) is scheduled to be announcing its earnings results after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of ($0.38) per share for the quarter. Magnachip Semiconductor has set its Q1 2024 guidance at EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Magnachip Semiconductor (NYSE:MX – Get Free Report) last posted its quarterly earnings data on Wednesday, February 28th. The semiconductor company reported ($0.26) EPS for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.08. Magnachip Semiconductor had a negative net margin of 15.92% and a negative return on equity of 7.85%. The company had revenue of $50.82 million during the quarter, compared to the consensus estimate of $52.45 million. During the same quarter in the prior year, the company posted ($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

Magnachip Semiconductor stock opened at $5.00 on Tuesday. Magnachip Semiconductor has a 1 year low of $4.70 and a 1 year high of $11.68. The firm has a 50 day moving average price of $5.53 and a 200 day moving average price of $6.52.

Analyst Ratings Changes

MX has been the subject of several research reports. StockNews.com upgraded Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, March 9th. Needham & Company LLC dropped their price target on Magnachip Semiconductor from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, February 29th.

View Our Latest Analysis on MX

About Magnachip Semiconductor

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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.