Magnachip Semiconductor Corp. (NYSE:MX) Short Interest Up 58.8% in February

Magnachip Semiconductor Corp. (NYSE:MX) was the recipient of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 253,636 shares, a growth of 58.8% from the February 12th total of 159,706 shares. Based on an average trading volume of 554,445 shares, the days-to-cover ratio is currently 0.5 days. Approximately 0.7% of the company’s shares are sold short. Approximately 0.7% of the company’s shares are sold short. Based on an average trading volume of 554,445 shares, the days-to-cover ratio is currently 0.5 days.

Magnachip Semiconductor Trading Up 1.6%

MX stock traded up $0.05 during midday trading on Friday, hitting $2.81. 136,180 shares of the company’s stock were exchanged, compared to its average volume of 420,709. The stock has a market capitalization of $100.92 million, a PE ratio of -3.46 and a beta of 1.02. Magnachip Semiconductor has a 1-year low of $2.18 and a 1-year high of $4.57. The business has a 50-day simple moving average of $2.88 and a two-hundred day simple moving average of $2.88. The company has a current ratio of 4.32, a quick ratio of 3.50 and a debt-to-equity ratio of 0.15.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings results on Wednesday, March 4th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.24. The company had revenue of $40.57 million for the quarter, compared to analyst estimates of $40.50 million. Magnachip Semiconductor had a negative return on equity of 4.48% and a negative net margin of 16.62%. On average, sell-side analysts predict that Magnachip Semiconductor will post -1.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Cubist Systematic Strategies LLC raised its position in shares of Magnachip Semiconductor by 22.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 60,638 shares of the semiconductor company’s stock worth $208,000 after buying an additional 11,298 shares during the period. Jane Street Group LLC acquired a new stake in shares of Magnachip Semiconductor in the 1st quarter valued at about $115,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Magnachip Semiconductor in the 2nd quarter worth approximately $81,000. ProShare Advisors LLC bought a new stake in shares of Magnachip Semiconductor during the 2nd quarter valued at about $73,000. Finally, American Century Companies Inc. raised its position in shares of 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 purchasing an additional 3,451 shares during the period. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Magnachip Semiconductor in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Magnachip Semiconductor currently has a consensus rating of “Hold” and a consensus price target of $5.50.

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.