Deutsche Bank Starts Magnachip Semiconductor (MX) at Buy; Steady Execution to Yield Valuation Improvement
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Price: $3.33 +1.52%
Rating Summary:
5 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
5 Buy, 5 Hold, 1 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Deutsche Bank initiates coverage on Magnachip Semiconductor (NYSE: MX) with a Buy.
Deutsche analyst says, "The co’s revenue is broadly diversified with the Foundry segment (~53% of sales) benefitting from increased analog outsourcing and relative lack of capacity expansion globally. The co’s Display products (~40% of sales) such as drivers and timing controllers are well suited for many CE devices and we expect steady market share moving forward. MagnaChip also expanded its market opportunity by establishing a Power Solutions business in late 2007 (~7% of sales)...We expect the co’s Power Solutions segment to be the main driver of growth at MX. Overall, we model revenue growth of +6% y/y for 2011 (to $818m) and +11% y/y for 2012 (to $904m)."
For more ratings news on Magnachip Semiconductor click here and for the rating history of Magnachip Semiconductor click here.
Shares of Magnachip Semiconductor closed at $13.96 yesterday.
Deutsche analyst says, "The co’s revenue is broadly diversified with the Foundry segment (~53% of sales) benefitting from increased analog outsourcing and relative lack of capacity expansion globally. The co’s Display products (~40% of sales) such as drivers and timing controllers are well suited for many CE devices and we expect steady market share moving forward. MagnaChip also expanded its market opportunity by establishing a Power Solutions business in late 2007 (~7% of sales)...We expect the co’s Power Solutions segment to be the main driver of growth at MX. Overall, we model revenue growth of +6% y/y for 2011 (to $818m) and +11% y/y for 2012 (to $904m)."
For more ratings news on Magnachip Semiconductor click here and for the rating history of Magnachip Semiconductor click here.
Shares of Magnachip Semiconductor closed at $13.96 yesterday.
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