Magnachip Semiconductor Corp. (NYSE:MX) Sees Large Decline in Short Interest

by · The Cerbat Gem

Magnachip Semiconductor Corp. (NYSE:MX – Get Free Report) saw a large decline in short interest in the month of December. As of December 15th, there was short interest totaling 336,353 shares, a decline of 17.9% from the November 30th total of 409,749 shares. Based on an average trading volume of 382,611 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.0% of the shares of the company are sold short. Approximately 1.0% of the shares of the company are sold short. Based on an average trading volume of 382,611 shares, the days-to-cover ratio is presently 0.9 days.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MX shares. Wall Street Zen lowered shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Magnachip Semiconductor in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Magnachip Semiconductor presently has an average rating of “Hold” and an average price target of $5.50.

View Our Latest Research Report on Magnachip Semiconductor

Institutional Trading of Magnachip Semiconductor

Institutional investors and hedge funds have recently bought and sold shares of the business. Sei Investments Co. purchased a new position in shares of Magnachip Semiconductor in the second quarter valued at approximately $61,000. ProShare Advisors LLC purchased a new stake in shares of Magnachip Semiconductor in the second quarter valued at approximately $73,000. NewEdge Advisors LLC purchased a new position in Magnachip Semiconductor during the second quarter worth approximately $74,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Magnachip Semiconductor in the 2nd quarter valued at $81,000. Finally, Algert Global LLC raised its holdings in shares of Magnachip Semiconductor by 44.7% during the 3rd quarter. Algert Global LLC now owns 29,455 shares of the semiconductor company’s stock worth $92,000 after acquiring 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 Down 3.1%

NYSE:MX traded down $0.08 during midday trading on Wednesday, reaching $2.53. 311,793 shares of the stock traded hands, compared to its average volume of 295,482. The business has a 50-day moving average of $2.68 and a two-hundred day moving average of $3.15. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.50 and a current ratio of 4.32. Magnachip Semiconductor has a 12-month low of $2.18 and a 12-month high of $5.16. The stock has a market capitalization of $91.03 million, a PE ratio of -2.46 and a beta of 0.96.

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

About Magnachip Semiconductor

(Get Free Report)

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.

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