Key Points
- CEO Chae Lee bought 70,000 Magnachip shares at an average of $2.22, spending $155,400 and increasing his direct stake by 18.01% to 458,750 shares.
- Magnachip missed quarterly expectations, reporting a loss of $0.29 per share versus the $0.20 consensus and revenue of $43.98 million versus $47.50 million expected.
- Analyst sentiment is cautious: the consensus rating is “Reduce,” with one Hold and one Sell rating. The stock was trading at $2.54, within a 12-month range of $1.92 to $9.86.
Magnachip Semiconductor Corp. (NYSE:MX - Get Free Report) CEO Chae Lee acquired 70,000 shares of the stock in a transaction that occurred on Friday, November 6th. The stock was acquired at an average price of $2.22 per share, for a total transaction of $155,400.00. Following the transaction, the chief executive officer directly owned 458,750 shares of the company's stock, valued at $1,018,425. This represents a 18.01% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Chae Lee also recently made the following trade(s):
- On Thursday, September 24th, Chae Lee bought 20,000 shares of Magnachip Semiconductor stock. The stock was bought at an average cost of $3.22 per share, for a total transaction of $64,400.00.
- On Wednesday, September 23rd, Chae Lee acquired 80,000 shares of Magnachip Semiconductor stock. The shares were bought at an average price of $3.18 per share, for a total transaction of $254,400.00.
Magnachip Semiconductor Trading Up 1.8%
NYSE MX opened at $2.54 on Wednesday. The company has a quick ratio of 2.02, a current ratio of 2.65 and a debt-to-equity ratio of 0.07. The stock's 50-day simple moving average is $2.91 and its two-hundred day simple moving average is $3.64. Magnachip Semiconductor Corp. has a twelve month low of $1.92 and a twelve month high of $9.86. The company has a market capitalization of $96.84 million, a price-to-earnings ratio of -3.10 and a beta of 1.72.
Magnachip Semiconductor (NYSE:MX - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The semiconductor company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.20) by ($0.09). The business had revenue of $43.98 million during the quarter, compared to the consensus estimate of $47.50 million. Magnachip Semiconductor had a negative return on equity of 11.18% and a negative net margin of 17.15%.
Hedge Funds Weigh In On Magnachip Semiconductor
A number of hedge funds have recently modified their holdings of MX. FourWorld Capital Management LLC raised its stake in shares of Magnachip Semiconductor by 667.1% during the first quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company's stock valued at $4,642,000 after acquiring an additional 1,441,593 shares during the last quarter. First Wilshire Securities Management Inc. grew its stake in shares of Magnachip Semiconductor by 1.5% in the first quarter. First Wilshire Securities Management Inc. now owns 743,953 shares of the semiconductor company's stock worth $2,083,000 after purchasing an additional 11,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Magnachip Semiconductor in the second quarter worth about $1,953,000. GSA Capital Partners LLP bought a new stake in shares of Magnachip Semiconductor in the second quarter worth about $946,000. Finally, Almanack Investment Partners LLC. purchased a new position in Magnachip Semiconductor during the 3rd quarter valued at about $626,000. Hedge funds and other institutional investors own 74.26% of the company's stock.
Analysts Set New Price Targets
A number of equities analysts have commented on MX shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Magnachip Semiconductor in a research note on Thursday, October 29th. Wall Street Zen lowered Magnachip Semiconductor from a "hold" rating to a "sell" rating in a research note on Saturday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce".
View Our Latest Analysis on Magnachip Semiconductor
About Magnachip Semiconductor
(
Get Free Report)
Magnachip Semiconductor Corporation (NYSE: MX) is a semiconductor company that designs and supplies analog and mixed-signal products. Its portfolio is focused primarily on power semiconductors and display solutions used in consumer electronics, communications equipment, automotive applications, industrial systems and other electronic devices. The company's power products include metal-oxide-semiconductor field-effect transistors (MOSFETs), insulated-gate bipolar transistors (IGBTs), power integrated circuits and other discrete semiconductor devices designed to manage power conversion, distribution and efficiency.
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