Thursday, July 18, 2013 12:57:41 PM
http://www.streetinsider.com/Analyst+Comments/Magnachip+%28MX%29+Debt+Refinancing+Positive%2C+Stock+Has+50%25+Upside+-+Needham+%26+Company/8504004.html
Needham & Company analyst Rajvindra Gill reiterated a Strong Buy rating on Magnachip Semiconductor (NYSE: MX) Tuesday, raised estimates and raised his price target from $24 to $28. This follows a debt refinancing and reaffirmation of prior guidance.
On the refinancing, given the nearly 400bps difference in the interest rate the firm's assumptions for 2013 and 2014 annual interest expense decline to $18.6MM (vs. $22.9MM) and $14.9MM (vs. $22.8MM), respectively.
As a result, the firm is raising 2013 and 2014 Non-GAAP estimates to $2.48 (vs. $2.37) and $3.13 (vs. $2.95), respectively, while the rest of the P&L is left unchanged.
The new $28 price target provides nearly 50% upside from current levels and is based on a conservative 9x forward P/E 2014E of $3.13.
"Then there was a woman, a lion of a woman."
Recent MX News
- Magnachip Reports Results for First Quarter 2024 • Business Wire • 05/02/2024 08:05:00 PM
- Magnachip to Announce First Quarter 2024 Financial Results on May 2, 2024 • Business Wire • 04/15/2024 08:05:00 PM
- Form 10-K - Annual report [Section 13 and 15(d), not S-K Item 405] • Edgar (US Regulatory) • 03/08/2024 09:21:30 PM
- Magnachip to Participate in the 36th Annual ROTH Conference • Business Wire • 03/04/2024 09:05:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/28/2024 09:21:05 PM
- Magnachip Reports Results for Fourth Quarter and Full-Year 2023 • Business Wire • 02/28/2024 09:05:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/13/2024 11:01:20 AM
- Magnachip to Announce Fourth Quarter 2023 Financial Results on February 28, 2024 • PR Newswire (US) • 02/07/2024 09:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 09:39:13 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 09:15:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 09:15:18 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 09:15:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/03/2024 09:15:13 PM
- Magnachip to Participate in the 26th Annual Needham Growth Conference • PR Newswire (US) • 01/03/2024 09:05:00 PM
- Magnachip Commences Full-Scale Mass Production of New 30V MXT LV MOSFET for Electric Power Steering Systems • PR Newswire (US) • 12/18/2023 11:55:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/12/2023 09:15:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/17/2023 09:15:12 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/17/2023 09:15:08 PM
- Magnachip to Participate in UBS Global Technology Conference • PR Newswire (US) • 11/13/2023 09:05:00 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/08/2023 09:16:24 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/02/2023 08:20:57 PM
- Magnachip Reports Results for Third Quarter 2023 • PR Newswire (US) • 11/02/2023 08:05:00 PM
- Magnachip Commences Mass Production of Two New 650V SJ MOSFETs with a Slim Form Factor • PR Newswire (US) • 10/31/2023 10:55:00 AM
- Magnachip Introduces 6th-Generation 600V SJ MOSFET Developed with Cutting-Edge Microfabrication Technology • PR Newswire (US) • 10/30/2023 10:55:00 AM
- Magnachip to Announce Third Quarter 2023 Financial Results on November 2 • PR Newswire (US) • 10/20/2023 08:05:00 PM
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