Magnachip Semiconductor (NYSE:MX) Stock: Insider Chae Lee Purchases 70,000 Shares

Magnachip Semiconductor Corp. (NYSE:MX) CEO Chae Lee bought 70,000 shares of the stock in a transaction on Friday, November 6th. The stock was purchased at an average cost of $2.22 per share, for a total transaction of $155,400.00. Following the acquisition, the chief executive officer owned 458,750 shares of the company’s stock, valued at $1,018,425. This trade represents a 18.01% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Chae Lee also recently made the following trade(s):

• On Thursday, September 24th, Chae Lee bought 20,000 shares of Magnachip Semiconductor stock. The stock was purchased at an average cost of $3.22 per share, with a total value of $64,400.00.
• On Wednesday, September 23rd, Chae Lee bought 80,000 shares of Magnachip Semiconductor stock. The stock was purchased at an average cost of $3.18 per share, for a total transaction of $254,400.00.

Magnachip Semiconductor Stock Up 6.0%

Shares of MX opened at $2.50 on Tuesday. The company has a market cap of $95.18 million, a PE ratio of -3.05 and a beta of 1.72. Magnachip Semiconductor Corp. has a 52-week low of $1.92 and a 52-week high of $9.86. The business has a fifty day moving average of $2.92 and a 200 day moving average of $3.64. The company has a quick ratio of 1.93, a current ratio of 2.43 and a debt-to-equity ratio of 0.07.

Magnachip Semiconductor (NYSE:MX) last announced its earnings results on Wednesday, November 4th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.09). The business had revenue of $43.98 million for the quarter, compared to analysts’ expectations of $47.50 million. Magnachip Semiconductor had a negative net margin of 17.15% and a negative return on equity of 11.30%.

Hedge Funds Weigh In On Magnachip Semiconductor

Several hedge funds have recently made changes to their positions in MX. FourWorld Capital Management LLC increased its position in Magnachip Semiconductor by 667.1% in the 1st quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company’s stock worth $4,642,000 after buying an additional 1,441,593 shares during the period. First Wilshire Securities Management Inc. grew its stake in shares of Magnachip Semiconductor by 1.5% in the first quarter. First Wilshire Securities Management Inc. now owns 743,953 shares of the semiconductor company’s stock worth $2,083,000 after acquiring an additional 11,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Magnachip Semiconductor during the second quarter worth $1,953,000. GSA Capital Partners LLP acquired a new position in Magnachip Semiconductor during the 2nd quarter valued at $946,000. Finally, Almanack Investment Partners LLC. acquired a new position in Magnachip Semiconductor during the 3rd quarter valued at $626,000. Institutional investors and hedge funds own 74.26% of the company’s stock.

Analyst Ratings Changes

MX has been the subject of several recent research reports. Wall Street Zen downgraded Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Magnachip Semiconductor in a research note on Thursday, October 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Magnachip Semiconductor has an average rating of “Reduce”.

Magnachip Semiconductor Company Profile

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.