Magnachip Semiconductor (NYSE:MX – Get Free Report) announced its earnings results on Wednesday. The semiconductor company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.09, FiscalAI reports. Finally, Zacks Research cut Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Founded in 2004 as a spin-off from MagnaChip, Magnachip is incorporated in the United States with design and sales offices strategically located across North America, Europe and Asia. Featured ArticlesReceive News & Ratings for Magnachip Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnachip Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.