Magnachip Semiconductor Corp. (NYSE:MX) Short Interest Update

Magnachip Semiconductor Corp. (NYSE:MX) was the target of a significant drop in short interest in January. As of January 15th, there was short interest totaling 146,735 shares, a drop of 42.5% from the December 31st total of 255,308 shares. Approximately 0.4% of the company’s stock are short sold. Based on an average daily volume of 276,666 shares, the short-interest ratio is presently 0.5 days. Based on an average daily volume of 276,666 shares, the short-interest ratio is presently 0.5 days. Approximately 0.4% of the company’s stock are short sold.

Institutional Trading of Magnachip Semiconductor

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sei Investments Co. acquired a new position in Magnachip Semiconductor during the second quarter valued at approximately $61,000. ProShare Advisors LLC bought a new stake in Magnachip Semiconductor during the second quarter worth about $73,000. NewEdge Advisors LLC bought a new stake in Magnachip Semiconductor during the second quarter worth $74,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Magnachip Semiconductor in the second quarter valued at approximately $81,000. Finally, Algert Global LLC raised its position in shares of Magnachip Semiconductor by 44.7% in the third quarter. Algert Global LLC now owns 29,455 shares of the semiconductor company’s stock valued at $92,000 after purchasing an additional 9,100 shares during the period. 74.26% of the stock is currently owned by institutional investors and hedge funds.

Magnachip Semiconductor Stock Performance

Shares of NYSE MX traded down $0.05 during trading hours on Friday, hitting $2.91. 368,511 shares of the company’s stock were exchanged, compared to its average volume of 299,885. The company’s 50-day moving average price is $2.80 and its 200-day moving average price is $2.99. Magnachip Semiconductor has a 1-year low of $2.18 and a 1-year high of $5.16. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.32 and a quick ratio of 3.50. The stock has a market capitalization of $104.53 million, a price-to-earnings ratio of -2.82 and a beta of 0.97.

Magnachip Semiconductor (NYSE:MX) last issued its earnings results on Monday, November 3rd. The semiconductor company reported ($0.01) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.07. Magnachip Semiconductor had a negative net margin of 18.84% and a negative return on equity of 2.93%. The company had revenue of $45.95 million for the quarter, compared to the consensus estimate of $46.00 million. On average, sell-side analysts expect that Magnachip Semiconductor will post -1.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MX has been the topic of a number of research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of Magnachip Semiconductor in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $5.50.

About Magnachip Semiconductor

Magnachip Semiconductor Inc is a fabless semiconductor company specializing in high-performance analog and mixed-signal solutions for the display, power management and lighting markets. Its core product portfolio includes display driver ICs for LCD and OLED panels, high-voltage MOSFETs, DC-DC converters, LED driver ICs and power management devices used in consumer electronics, mobile devices, industrial equipment and automotive applications.

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.