Magnachip Semiconductor Corp. (NYSE:MX) Sees Significant Decrease in Short Interest

Magnachip Semiconductor Corp. (NYSE:MX) saw a significant decrease in short interest in the month of January. As of January 15th, there was short interest totaling 146,735 shares, a decrease of 42.5% from the December 31st total of 255,308 shares. Currently, 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 276,666 shares, the short-interest ratio is presently 0.5 days. Based on an average daily trading volume, of 276,666 shares, the short-interest ratio is presently 0.5 days. Currently, 0.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Magnachip Semiconductor

A number of large investors have recently bought and sold shares of the stock. Centiva Capital LP purchased a new position in Magnachip Semiconductor during the 3rd quarter valued at about $237,000. Algert Global LLC lifted its holdings in shares of Magnachip Semiconductor by 44.7% during the third quarter. Algert Global LLC now owns 29,455 shares of the semiconductor company’s stock valued at $92,000 after purchasing an additional 9,100 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Magnachip Semiconductor by 17.0% in the third quarter. Ameriprise Financial Inc. now owns 1,432,843 shares of the semiconductor company’s stock worth $4,485,000 after acquiring an additional 208,417 shares in the last quarter. Bridgeway Capital Management LLC increased its stake in Magnachip Semiconductor by 11.9% during the 3rd quarter. Bridgeway Capital Management LLC now owns 488,895 shares of the semiconductor company’s stock valued at $1,530,000 after purchasing an additional 52,000 shares in the last quarter. Finally, Kennedy Capital Management LLC grew its holdings in shares of Magnachip Semiconductor by 63.4% during the third quarter. Kennedy Capital Management LLC now owns 105,551 shares of the semiconductor company’s stock valued at $330,000 after buying an additional 40,959 shares during the last quarter. 74.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MX. Wall Street Zen lowered shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of Magnachip Semiconductor in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Magnachip Semiconductor presently has a consensus rating of “Hold” and a consensus target price of $5.50.

Magnachip Semiconductor Stock Down 1.9%

Shares of NYSE:MX traded down $0.06 during midday trading on Friday, hitting $2.90. 176,703 shares of the company’s stock were exchanged, compared to its average volume of 308,293. 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 moving average price of $2.79 and a 200-day moving average price of $3.00. Magnachip Semiconductor has a 12 month low of $2.18 and a 12 month high of $5.16. The company has a market cap of $104.16 million, a PE ratio of -2.81 and a beta of 0.97.

Magnachip Semiconductor (NYSE:MX) last released its earnings results on Monday, November 3rd. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.07. The company had revenue of $45.95 million during 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, sell-side analysts anticipate that Magnachip Semiconductor will post -1.22 EPS for the current fiscal year.

Magnachip Semiconductor Company Profile

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.