Magnachip Semiconductor Corp. (NYSE:MX) Short Interest Update

Magnachip Semiconductor Corp. (NYSE:MX) was the recipient of a large growth in short interest in April. As of April 30th, there was short interest totaling 278,254 shares, a growth of 83.8% from the April 15th total of 151,391 shares. Currently, 0.8% of the shares of the stock are short sold. Based on an average daily volume of 3,055,581 shares, the short-interest ratio is currently 0.1 days.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MX. Weiss Ratings upgraded shares of Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Zacks Research lowered shares of Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Wall Street Zen raised shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.50.

Magnachip Semiconductor Trading Down 6.4%

Shares of MX stock opened at $4.06 on Tuesday. Magnachip Semiconductor has a 12-month low of $2.18 and a 12-month high of $5.64. The company has a current ratio of 2.37, a quick ratio of 1.91 and a debt-to-equity ratio of 0.07. The firm’s 50 day moving average is $3.37 and its 200 day moving average is $2.97. The stock has a market capitalization of $148.02 million, a P/E ratio of -5.80 and a beta of 1.00.

Magnachip Semiconductor (NYSE:MX) last issued its earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.11. Magnachip Semiconductor had a negative net margin of 14.14% and a negative return on equity of 4.68%. The company had revenue of $46.21 million for the quarter, compared to analysts’ expectations of $46.00 million.

Institutional Trading of Magnachip Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. LPL Financial LLC bought a new stake in shares of Magnachip Semiconductor in the 4th quarter worth about $30,000. Sei Investments Co. purchased a new stake in Magnachip Semiconductor in the 2nd quarter valued at about $61,000. Quadrature Capital Ltd boosted its position in Magnachip Semiconductor by 57.0% in the 4th quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company’s stock valued at $62,000 after buying an additional 8,863 shares during the period. XTX Topco Ltd purchased a new stake in Magnachip Semiconductor in the 4th quarter valued at about $65,000. Finally, Boothbay Fund Management LLC purchased a new stake in Magnachip Semiconductor in the 4th quarter valued at about $69,000. 74.26% of the stock is currently owned by institutional investors.

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.