Magnachip Semiconductor Corp. (NYSE:MX) Stock Short Interest Report for October

Magnachip Semiconductor Corp. (NYSE:MX) was the recipient of a significant drop in short interest during the month of October. As of October 15th, there was short interest totaling 1,092,672 shares, a drop of 34.7% from the September 30th total of 1,672,866 shares. Based on an average daily trading volume, of 938,475 shares, the short-interest ratio is presently 1.2 days. Currently, 3.2% of the company’s shares are sold short.

Magnachip Semiconductor Price Performance

MX stock opened at $2.52 on Wednesday. The company has a 50 day simple moving average of $2.99 and a 200 day simple moving average of $3.65. The stock has a market cap of $96.05 million, a price-to-earnings ratio of -3.01 and a beta of 1.72. Magnachip Semiconductor has a 1 year low of $2.18 and a 1 year high of $9.86. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.43 and a quick ratio of 1.93.

Insider Transactions at Magnachip Semiconductor

In other news, CEO Chae Lee acquired 80,000 shares of the stock in a transaction that occurred on Wednesday, September 23rd. The stock was acquired at an average price of $3.18 per share, for a total transaction of $254,400.00. Following the transaction, the chief executive officer directly owned 368,750 shares in the company, valued at approximately $1,172,625. This represents a 27.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 10.90% of the company’s stock.

Institutional Trading of Magnachip Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of MX. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Magnachip Semiconductor in the second quarter worth $1,953,000. FourWorld Capital Management LLC raised its holdings in shares of Magnachip Semiconductor by 667.1% during the first quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company’s stock valued at $4,642,000 after purchasing an additional 1,441,593 shares during the period. GSA Capital Partners LLP bought a new position in shares of Magnachip Semiconductor during the 2nd quarter worth about $946,000. BlackRock Inc. bought a new position in shares of Magnachip Semiconductor during the 2nd quarter worth about $63,000. Finally, Almanack Investment Partners LLC. bought a new position in shares of Magnachip Semiconductor during the 3rd quarter worth about $626,000. Institutional investors own 74.26% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Magnachip Semiconductor in a research report on Thursday, October 29th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, 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.