MagnaChip Semiconductor Corporation (NYSE:MX) insider Engaged Capital Llc sold 400,000 shares of the company’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $6.35, for a total transaction of $2,540,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of MagnaChip Semiconductor Corporation (NYSE:MX) opened at 7.35 on Friday. The company’s 50-day moving average is $6.39 and its 200-day moving average is $6.97. MagnaChip Semiconductor Corporation has a one year low of $3.10 and a one year high of $9.17. The stock has a market capitalization of $257.24 million, a P/E ratio of 5.98 and a beta of 0.42.

MagnaChip Semiconductor Corporation (NYSE:MX) last issued its earnings results on Thursday, October 27th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by $0.07. The firm earned $192.30 million during the quarter, compared to analyst estimates of $183 million. MagnaChip Semiconductor Corporation had a net margin of 6.52% and a negative return on equity of 44.29%. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities research analysts anticipate that MagnaChip Semiconductor Corporation will post ($0.23) earnings per share for the current year.

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A number of hedge funds have recently modified their holdings of MX. Smith Asset Management Group LP bought a new stake in MagnaChip Semiconductor Corporation during the second quarter worth $129,000. Picton Mahoney Asset Management bought a new stake in MagnaChip Semiconductor Corporation during the second quarter worth $133,000. State Street Corp boosted its stake in MagnaChip Semiconductor Corporation by 2.4% in the second quarter. State Street Corp now owns 38,950 shares of the company’s stock worth $220,000 after buying an additional 915 shares during the last quarter. Kavi Asset Management LP boosted its stake in MagnaChip Semiconductor Corporation by 56.8% in the second quarter. Kavi Asset Management LP now owns 197,655 shares of the company’s stock worth $1,119,000 after buying an additional 71,600 shares during the last quarter. Finally, Barclays PLC boosted its stake in MagnaChip Semiconductor Corporation by 257.7% in the second quarter. Barclays PLC now owns 141,377 shares of the company’s stock worth $800,000 after buying an additional 101,850 shares during the last quarter. 77.39% of the stock is currently owned by hedge funds and other institutional investors.

MX has been the topic of several recent research reports. Roth Capital initiated coverage on shares of MagnaChip Semiconductor Corporation in a report on Wednesday, September 28th. They issued a “buy” rating and a $10.00 price objective on the stock. Zacks Investment Research raised shares of MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $7.00 price objective on the stock in a report on Saturday, October 29th. Finally, Needham & Company LLC raised shares of MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Friday.

About MagnaChip Semiconductor Corporation

MagnaChip Semiconductor Corporation is a holding company, which designs and manufactures 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 applications.

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