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

Magnachip Semiconductor Corp. (NYSE:MX) was the target of a significant drop in short interest in the month of 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 shares of the company are short sold. Based on an average trading volume of 276,666 shares, the days-to-cover ratio is presently 0.5 days. Based on an average trading volume of 276,666 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. American Century Companies Inc. grew its position in Magnachip Semiconductor by 4.7% during the 2nd quarter. American Century Companies Inc. now owns 76,312 shares of the semiconductor company’s stock worth $304,000 after acquiring an additional 3,451 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Magnachip Semiconductor by 1.9% in the third quarter. BNP Paribas Financial Markets now owns 315,732 shares of the semiconductor company’s stock worth $988,000 after purchasing an additional 5,764 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Magnachip Semiconductor by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,030,024 shares of the semiconductor company’s stock worth $3,224,000 after buying an additional 6,519 shares during the period. Engineers Gate Manager LP increased its stake in shares of Magnachip Semiconductor by 15.4% in the second quarter. Engineers Gate Manager LP now owns 59,648 shares of the semiconductor company’s stock worth $237,000 after buying an additional 7,941 shares during the period. Finally, Algert Global LLC boosted its position in Magnachip Semiconductor by 44.7% during the 3rd quarter. Algert Global LLC now owns 29,455 shares of the semiconductor company’s stock valued at $92,000 after buying an additional 9,100 shares during the period. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on MX. 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 reaffirmed a “sell (e+)” rating on shares of Magnachip Semiconductor in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $5.50.

Magnachip Semiconductor Price Performance

NYSE MX traded down $0.05 during trading hours on Friday, reaching $2.91. 368,511 shares of the stock traded hands, compared to its average volume of 299,885. 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 50 day simple moving average of $2.80 and a two-hundred day simple moving average of $2.99. Magnachip Semiconductor has a 1 year low of $2.18 and a 1 year high of $5.16. The company has a market cap of $104.52 million, a price-to-earnings ratio of -2.82 and a beta of 0.97.

Magnachip Semiconductor (NYSE:MX) last announced 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 for 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, analysts predict that Magnachip Semiconductor will post -1.22 EPS for the current fiscal year.

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.