Key Points
- CEO Chae Lee bought 80,000 Magnachip shares for $254,400 at an average price of $3.18, increasing his ownership by 27.71% to 368,750 shares. He also purchased an additional 20,000 shares for $64,400 the following day.
- Magnachip shares opened at $3.33, up 4.6%, but remain well below their 12-month high of $9.86. The company reported a quarterly loss of $0.13 per share, beating estimates, while revenue of $44.7 million fell short of expectations.
- Institutional investors own 74.26% of the stock, although analyst sentiment remains negative, with ratings of Hold and Sell and an overall “Reduce” consensus.
Magnachip Semiconductor Corp. (NYSE:MX - Get Free Report) CEO Chae Lee bought 20,000 shares of the firm's stock in a transaction on Thursday, September 24th. The shares were bought at an average cost of $3.22 per share, with a total value of $64,400.00. Following the purchase, the chief executive officer directly owned 388,750 shares in the company, valued at approximately $1,251,775. This trade represents a 5.42% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Chae Lee also recently made the following trade(s):
- On Wednesday, September 23rd, Chae Lee purchased 80,000 shares of Magnachip Semiconductor stock. The stock was bought at an average cost of $3.18 per share, for a total transaction of $254,400.00.
Magnachip Semiconductor Trading Up 4.6%
NYSE MX opened at $3.33 on Friday. The company has a current ratio of 2.43, a quick ratio of 1.93 and a debt-to-equity ratio of 0.07. Magnachip Semiconductor Corp. has a 1-year low of $2.18 and a 1-year high of $9.86. The firm's fifty day simple moving average is $3.31 and its 200-day simple moving average is $4.00. The company has a market capitalization of $121.40 million, a PE ratio of -3.96 and a beta of 1.65.
Magnachip Semiconductor (NYSE:MX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.22) by $0.09. Magnachip Semiconductor had a negative return on equity of 5.84% and a negative net margin of 17.26%.The firm had revenue of $44.70 million during the quarter, compared to analysts' expectations of $46.50 million.
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the stock. Lepercq De Neuflize Asset Management LLC increased its holdings in shares of Magnachip Semiconductor by 162.3% during the 4th quarter. Lepercq De Neuflize Asset Management LLC now owns 2,694,527 shares of the semiconductor company's stock valued at $6,871,000 after acquiring an additional 1,667,434 shares during the last quarter. FourWorld Capital Management LLC lifted its holdings in Magnachip Semiconductor by 667.1% in the 1st quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company's stock worth $4,642,000 after purchasing an additional 1,441,593 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Magnachip Semiconductor during the second quarter worth approximately $1,953,000. Potomac Capital Management Inc. bought a new stake in Magnachip Semiconductor during the fourth quarter worth approximately $987,000. Finally, First Wilshire Securities Management Inc. grew its holdings in Magnachip Semiconductor by 53.8% during the fourth quarter. First Wilshire Securities Management Inc. now owns 732,857 shares of the semiconductor company's stock valued at $1,869,000 after purchasing an additional 256,211 shares during the last quarter. Institutional investors and hedge funds own 74.26% of the company's stock.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Magnachip Semiconductor in a report on Friday, July 31st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Magnachip Semiconductor currently has a consensus rating of "Reduce".
Read Our Latest Analysis on MX
Magnachip Semiconductor Company Profile
(
Get Free Report)
Magnachip Semiconductor Corporation is a semiconductor company that designs and supplies analog and mixed-signal products for consumer, industrial, automotive, communications and computing applications. Its portfolio includes power management products, power discrete devices, display driver integrated circuits and other specialty semiconductor solutions.
The company's power products include metal-oxide-semiconductor field-effect transistors, insulated-gate bipolar transistors and power integrated circuits used to manage, convert and regulate electrical power in electronic systems.
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