Magnachip Semiconductor Corp. (NYSE:MX) Stock Short Interest Report for October

Magnachip Semiconductor Corp. (NYSE:MX – Get Free Report) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 1,092,672 shares, a decline of 34.7% from the September 30th total of 1,672,866 shares. Based on an average trading volume of 938,475 shares, the short-interest ratio is currently 1.2 days. Currently, 3.2% of the shares of the stock are sold short.

Magnachip Semiconductor Stock Performance

MX stock opened at $2.40 on Monday. Magnachip Semiconductor has a twelve month low of $2.18 and a twelve month high of $9.86. The company has a quick ratio of 1.93, a current ratio of 2.43 and a debt-to-equity ratio of 0.07. The company has a market cap of $91.30 million, a P/E ratio of -2.86 and a beta of 1.72. The business’s fifty day moving average is $3.02 and its 200-day moving average is $3.66.

Insider Transactions at Magnachip Semiconductor

In other news, CEO Chae Lee acquired 80,000 shares of the company’s stock in a transaction on Wednesday, September 23rd. The stock was purchased at an average cost of $3.18 per share, with a total value of $254,400.00. Following the acquisition, the chief executive officer owned 368,750 shares of the company’s stock, valued at $1,172,625. This trade represents a 27.71% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. First Wilshire Securities Management Inc. boosted its position in shares of Magnachip Semiconductor by 1.5% during 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 in the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Magnachip Semiconductor in the 2nd quarter valued at $54,000. BlackRock Inc. acquired a new stake in Magnachip Semiconductor during the 2nd quarter worth $63,000. Susquehanna Fundamental Investments LLC acquired a new stake in Magnachip Semiconductor during the 2nd quarter worth $90,000. Finally, WINTON GROUP Ltd bought a new position in Magnachip Semiconductor during the second quarter worth about $164,000. Institutional investors and hedge funds own 74.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Magnachip Semiconductor in a research note on Thursday. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Magnachip Semiconductor currently has an average rating of “Reduce”.

Get Our Latest Analysis on MX

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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