Jonathan W. Kim Purchases 8,000 Shares of Magnachip Semiconductor Corp (MX) Stock

Magnachip Semiconductor Corp (NYSE:MX) insider Jonathan W. Kim acquired 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was bought at an average cost of $9.07 per share, with a total value of $72,560.00. Following the purchase, the insider now owns 62,675 shares in the company, valued at $568,462.25. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Magnachip Semiconductor Corp (MX) traded up $0.45 during mid-day trading on Wednesday, hitting $9.45. 696,385 shares of the stock traded hands, compared to its average volume of 663,293. The company has a market capitalization of $314.54, a P/E ratio of 4.85 and a beta of -0.04. Magnachip Semiconductor Corp has a 12-month low of $7.15 and a 12-month high of $13.40. The company has a debt-to-equity ratio of -4.96, a current ratio of 2.42 and a quick ratio of 1.96.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.24 by ($0.01). The business had revenue of $174.58 million for the quarter, compared to the consensus estimate of $174.00 million. Magnachip Semiconductor had a net margin of 12.50% and a negative return on equity of 40.94%. Magnachip Semiconductor’s revenue was down 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.04 EPS. sell-side analysts expect that Magnachip Semiconductor Corp will post 0.75 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the company. Northern Trust Corp bought a new position in shares of Magnachip Semiconductor during the second quarter valued at $111,000. Tower Research Capital LLC TRC raised its stake in shares of Magnachip Semiconductor by 3,798.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,347 shares of the semiconductor company’s stock valued at $143,000 after acquiring an additional 13,979 shares during the last quarter. Goldman Sachs Group Inc. bought a new position in Magnachip Semiconductor during the second quarter worth $148,000. Citadel Advisors LLC raised its stake in Magnachip Semiconductor by 66.9% during the third quarter. Citadel Advisors LLC now owns 15,465 shares of the semiconductor company’s stock worth $176,000 after buying an additional 6,197 shares during the last quarter. Finally, Dixon Hubard Feinour & Brown Inc. VA bought a new position in Magnachip Semiconductor during the third quarter worth $193,000. 90.32% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price target on shares of Magnachip Semiconductor in a research note on Thursday, November 2nd. Zacks Investment Research raised shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, November 7th. ValuEngine raised shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, TheStreet raised shares of Magnachip Semiconductor from a “d” rating to a “c” rating in a research note on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Magnachip Semiconductor presently has an average rating of “Hold” and a consensus price target of $12.67.

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About Magnachip Semiconductor

MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.

Insider Buying and Selling by Quarter for Magnachip Semiconductor (NYSE:MX)

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