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Magnachip (MX) Dips More Than Broader Markets: What You Should Know
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Magnachip (MX - Free Report) closed at $13.73 in the latest trading session, marking a -1.58% move from the prior day. This change lagged the S&P 500's 0.09% loss on the day. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.06%.
Heading into today, shares of the chip products maker had gained 20.16% over the past month, outpacing the Computer and Technology sector's gain of 4.55% and the S&P 500's gain of 1.26% in that time.
MX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.20, up 100% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $199 million, up 10.93% from the year-ago period.
Any recent changes to analyst estimates for MX should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 91.18% higher within the past month. MX is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, MX is currently trading at a Forward P/E ratio of 21.46. This represents a discount compared to its industry's average Forward P/E of 26.59.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Magnachip (MX) Dips More Than Broader Markets: What You Should Know
Magnachip (MX - Free Report) closed at $13.73 in the latest trading session, marking a -1.58% move from the prior day. This change lagged the S&P 500's 0.09% loss on the day. Elsewhere, the Dow gained 0.04%, while the tech-heavy Nasdaq added 0.06%.
Heading into today, shares of the chip products maker had gained 20.16% over the past month, outpacing the Computer and Technology sector's gain of 4.55% and the S&P 500's gain of 1.26% in that time.
MX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.20, up 100% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $199 million, up 10.93% from the year-ago period.
Any recent changes to analyst estimates for MX should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 91.18% higher within the past month. MX is currently sporting a Zacks Rank of #1 (Strong Buy).
In terms of valuation, MX is currently trading at a Forward P/E ratio of 21.46. This represents a discount compared to its industry's average Forward P/E of 26.59.
The Semiconductor - Analog and Mixed industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 45, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.