Magnachip Semiconductor Corp (MX) Director Purchases $32,436.00 in Stock

Magnachip Semiconductor Corp (NYSE:MX) Director Melvin L. Keating purchased 3,600 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was purchased at an average cost of $9.01 per share, with a total value of $32,436.00. Following the acquisition, the director now directly owns 24,016 shares in the company, valued at $216,384.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of Magnachip Semiconductor Corp (NYSE 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 firm has a market cap of $314.54, a price-to-earnings ratio of 4.85 and a beta of -0.04. The company has a quick ratio of 1.96, a current ratio of 2.42 and a debt-to-equity ratio of -4.96. Magnachip Semiconductor Corp has a one year low of $7.15 and a one year high of $13.40.

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

Several brokerages have recently issued reports on MX. Zacks Investment Research lowered shares of Magnachip Semiconductor from a “hold” rating to a “strong sell” rating in a report on Tuesday. TheStreet raised shares of Magnachip Semiconductor from a “d” rating to a “c” rating in a report on Wednesday, February 7th. ValuEngine raised shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $15.00 price target on shares of Magnachip Semiconductor in a report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $12.67.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp boosted its stake in Magnachip Semiconductor by 1.5% in the 2nd quarter. State Street Corp now owns 40,222 shares of the semiconductor company’s stock worth $394,000 after purchasing an additional 606 shares during the period. Silverback Asset Management LLC boosted its stake in Magnachip Semiconductor by 1.6% in the 2nd quarter. Silverback Asset Management LLC now owns 313,461 shares of the semiconductor company’s stock worth $3,072,000 after purchasing an additional 5,000 shares during the period. Citadel Advisors LLC boosted its stake in Magnachip Semiconductor by 66.9% in the 3rd quarter. Citadel Advisors LLC now owns 15,465 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 6,197 shares during the period. Goldman Sachs Group Inc. boosted its stake in Magnachip Semiconductor by 64.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 20,574 shares of the semiconductor company’s stock worth $205,000 after purchasing an additional 8,034 shares during the period. Finally, Northern Trust Corp acquired a new position in Magnachip Semiconductor in the 2nd quarter worth $111,000. 90.32% of the stock is owned by hedge funds and other institutional investors.

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Magnachip Semiconductor Company Profile

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.

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