Roth Capital Keeps a Buy Rating on MagnaChip

By Jason Carr

In a report released today, Sujeeva De Silva from Roth Capital reiterated a Buy rating on MagnaChip (NYSE: MX), with a price target of $15. The company’s shares opened today at $11.25.

According to TipRanks.com, Silva is a 5-star analyst with an average return of 19.9% and a 61.3% success rate. Silva covers the Consumer Goods sector, focusing on stocks such as Semiconductor Manufacturing, Smart Global Holdings Inc, and Adesto Technologies Corp.

MagnaChip has an analyst consensus of Moderate Buy, with a price target consensus of $15.

Based on MagnaChip’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $166 million and GAAP net loss of $8.06 million. In comparison, last year the company earned revenue of $167 million and had a GAAP net loss of $17.82 million.

Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is neutral on the stock.

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MagnaChip Semiconductor Corp. engages in the design and manufacture of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive, and Internet of Things applications. It offers technology platforms for analog, mixed-signal, power, high voltage, non-volatile memory, and Radio Frequency applications.