Short Interest in Magnachip Semiconductor Co. (NYSE:MX) Decreases By 38.6%

Magnachip Semiconductor Co. (NYSE:MXGet Free Report) was the target of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 119,900 shares, a decline of 38.6% from the May 15th total of 195,200 shares. Approximately 0.3% of the company’s stock are short sold. Based on an average daily volume of 284,900 shares, the short-interest ratio is presently 0.4 days.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MX shares. Needham & Company LLC reduced their price objective on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Roth Mkm cut their price target on Magnachip Semiconductor from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Finally, StockNews.com upgraded shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th.

Get Our Latest Research Report on Magnachip Semiconductor

Institutional Trading of Magnachip Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of MX. Quantbot Technologies LP bought a new position in shares of Magnachip Semiconductor during the 3rd quarter worth approximately $36,000. Maven Securities LTD bought a new stake in Magnachip Semiconductor during the 3rd quarter worth about $2,908,000. Aigen Investment Management LP acquired a new position in shares of Magnachip Semiconductor during the 3rd quarter worth about $125,000. CenterBook Partners LP grew its holdings in shares of Magnachip Semiconductor by 28.5% in the 3rd quarter. CenterBook Partners LP now owns 61,709 shares of the semiconductor company’s stock valued at $513,000 after acquiring an additional 13,691 shares in the last quarter. Finally, Algert Global LLC increased its position in shares of Magnachip Semiconductor by 143.4% in the third quarter. Algert Global LLC now owns 81,625 shares of the semiconductor company’s stock valued at $678,000 after acquiring an additional 48,090 shares during the last quarter. Institutional investors and hedge funds own 74.26% of the company’s stock.

Magnachip Semiconductor Trading Down 2.4 %

MX stock traded down $0.12 during midday trading on Thursday, hitting $4.88. 87,961 shares of the company’s stock were exchanged, compared to its average volume of 354,353. Magnachip Semiconductor has a one year low of $4.70 and a one year high of $11.49. The stock’s fifty day moving average price is $5.03 and its 200-day moving average price is $6.03. The company has a market cap of $186.76 million, a PE ratio of -6.29 and a beta of 0.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 5.05 and a current ratio of 5.75.

Magnachip Semiconductor (NYSE:MXGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.30) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.08. Magnachip Semiconductor had a negative net margin of 13.76% and a negative return on equity of 8.35%. The company had revenue of $49.07 million during the quarter, compared to analysts’ expectations of $48.85 million. Research analysts predict that Magnachip Semiconductor will post -1.29 earnings per share for the current fiscal year.

About Magnachip Semiconductor

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Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.

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