Tudor Pickering Reiterates a Hold Rating on MagnaChip (MX)

Tudor Pickering analyst Tudor Pickering reiterated a Hold rating on MagnaChip (MX) yesterday. The company’s shares closed last Wednesday at $17.63, close to its 52-week high of $19.84.

Currently, the analyst consensus on MagnaChip is a Moderate Buy with an average price target of $21.67, which is a 18.6% upside from current levels. In a report issued on January 25, Citigroup also maintained a Hold rating on the stock with a $19.00 price target.

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Based on MagnaChip’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $125 million and net profit of $273 million. In comparison, last year the company earned revenue of $149 million and had a GAAP net loss of $1.61 million.

Based on the recent corporate insider activity of 24 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of MX in relation to earlier this year.

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MagnaChip Semiconductor Corp. engages in the design and manufacture of analog and mixed-signal semiconductor products. It operates through the following segments: Foundry Services Group and Standard Products Group. The Foundry Services Group segment provides specialty analog and mixed-signal foundry services for fabless and Integrated Device Manufacturer semiconductor companies. The Standard Products Group segment consists of Display Solutions, which offers panel display solutions to the suppliers of large, small and flexible panel displays and Power Solutions, which comprises discrete and integrated circuit solutions for power management in consumer, communication, and industrial applications. The company was founded on November 26, 2003 and is headquartered in Luxembourg.

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