MagnaChip Semiconductor CorporationMX is a designer and manufacturer of analog and mixed-signal semiconductor products that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on MX's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that MagnaChip could be a solid choice for investors.
Current Quarter Estimates for MX
In the past 30 days, 1 estimate has gone higher for MagnaChip while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates rising from a loss of 21 cents a share 30 days ago, to a loss of 5 cents per share today, a significant move.
Current Year Estimates for MX
Meanwhile, MagnaChip's current year figures are also looking quite promising, with 1 estimate moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, rising from a loss of 34 cents per share 30 days ago to 32 cents per share today, a significant increase.
MagnaChip Semiconductor Corporation Price and Consensus
The stock has also started to move higher lately, adding 25.9% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #2 (Buy) stock to profit in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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