Insider Selling: Magnachip Semiconductor Corp (MX) Major Shareholder Sells 25,294 Shares of Stock

Magnachip Semiconductor Corp (NYSE:MX) major shareholder Brigade Leveraged Capital Stru sold 25,294 shares of the stock in a transaction on Friday, January 26th. The stock was sold at an average price of $12.75, for a total transaction of $322,498.50. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Brigade Leveraged Capital Stru also recently made the following trade(s):

  • On Wednesday, January 24th, Brigade Leveraged Capital Stru sold 149,000 shares of Magnachip Semiconductor stock. The stock was sold at an average price of $12.93, for a total transaction of $1,926,570.00.

Magnachip Semiconductor Corp (MX) traded up $0.32 during trading on Wednesday, hitting $9.32. 496,545 shares of the company’s stock were exchanged, compared to its average volume of 653,115. Magnachip Semiconductor Corp has a 12-month low of $7.15 and a 12-month high of $13.40. The company has a market capitalization of $314.54, a price-to-earnings ratio of 4.62 and a beta of -0.04. The company has a debt-to-equity ratio of -4.96, a current ratio of 2.42 and a quick ratio of 1.96.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). The business had revenue of $174.58 million during the quarter, compared to the consensus estimate of $174.00 million. Magnachip Semiconductor had a net margin of 12.50% and a negative return on equity of 40.94%. The firm’s quarterly revenue was down 1.2% on a year-over-year basis. During the same period last year, the business posted $0.04 earnings per share. sell-side analysts forecast that Magnachip Semiconductor Corp will post 0.75 earnings per share for the current fiscal year.

A number of research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Magnachip Semiconductor from a “hold” rating to a “strong sell” rating in a research note on Tuesday. TheStreet raised shares of Magnachip Semiconductor from a “d” rating to a “c” rating in a research note on Wednesday, February 7th. ValuEngine raised shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Magnachip Semiconductor in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company’s stock. Magnachip Semiconductor presently has a consensus rating of “Hold” and an average price target of $12.67.

Hedge funds have recently made changes to their positions in the company. Rubric Capital Management LP raised its holdings in shares of Magnachip Semiconductor by 16.9% in the third quarter. Rubric Capital Management LP now owns 2,250,500 shares of the semiconductor company’s stock valued at $25,543,000 after purchasing an additional 325,500 shares during the last quarter. Evermore Global Advisors LLC raised its holdings in shares of Magnachip Semiconductor by 34.1% in the third quarter. Evermore Global Advisors LLC now owns 3,125,620 shares of the semiconductor company’s stock valued at $35,476,000 after purchasing an additional 794,415 shares during the last quarter. Russell Investments Group Ltd. purchased a new stake in shares of Magnachip Semiconductor in the third quarter valued at about $2,723,000. Oaktree Capital Management LP raised its holdings in shares of Magnachip Semiconductor by 44.9% in the third quarter. Oaktree Capital Management LP now owns 2,340,000 shares of the semiconductor company’s stock valued at $26,559,000 after purchasing an additional 725,000 shares during the last quarter. Finally, Luzich Partners LLC raised its holdings in shares of Magnachip Semiconductor by 19.1% in the third quarter. Luzich Partners LLC now owns 750,092 shares of the semiconductor company’s stock valued at $8,514,000 after purchasing an additional 120,436 shares during the last quarter. Institutional investors own 90.32% of the company’s stock.

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About Magnachip Semiconductor

MagnaChip Semiconductor Corporation is a designer and manufacturer of 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 (RF) applications.

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