Magnachip Semiconductor Co. (NYSE:MX – Get Free Report) was the target of a large decrease in short interest in the month of July. As of July 15th, there was short interest totalling 747,800 shares, a decrease of 19.5% from the June 30th total of 928,400 shares. Based on an average daily trading volume, of 312,300 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.9% of the shares of the stock are short sold.
Wall Street Analyst Weigh In
Separately, StockNews.com raised Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Sunday, July 2nd.
Institutional Investors Weigh In On Magnachip Semiconductor
Institutional investors have recently made changes to their positions in the company. Brinker Capital Investments LLC grew its position in shares of Magnachip Semiconductor by 2.8% during the 1st quarter. Brinker Capital Investments LLC now owns 23,164 shares of the semiconductor company’s stock valued at $392,000 after acquiring an additional 627 shares during the period. PenderFund Capital Management Ltd. boosted its stake in shares of Magnachip Semiconductor by 33.3% during the 1st quarter. PenderFund Capital Management Ltd. now owns 2,800 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 700 shares in the last quarter. Citigroup Inc. boosted its stake in Magnachip Semiconductor by 95.2% during the first quarter. Citigroup Inc. now owns 1,503 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 733 shares in the last quarter. Northern Trust Corp raised its holdings in Magnachip Semiconductor by 2.5% in the first quarter. Northern Trust Corp now owns 45,109 shares of the semiconductor company’s stock worth $763,000 after buying an additional 1,111 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Magnachip Semiconductor by 10.3% during the second quarter. Legal & General Group Plc now owns 12,771 shares of the semiconductor company’s stock valued at $186,000 after purchasing an additional 1,193 shares during the last quarter. Institutional investors own 71.81% of the company’s stock.
Magnachip Semiconductor Stock Up 0.8 %
NYSE:MX traded up $0.07 during trading hours on Friday, reaching $9.12. 145,311 shares of the stock were exchanged, compared to its average volume of 283,422. The stock has a market capitalization of $385.41 million, a P/E ratio of -10.40 and a beta of 0.96. Magnachip Semiconductor has a 52 week low of $8.18 and a 52 week high of $15.40. The firm has a 50 day simple moving average of $10.36 and a 200-day simple moving average of $9.85.
Magnachip Semiconductor (NYSE:MX – Get Free Report) last released its quarterly earnings data on Wednesday, May 3rd. The semiconductor company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.03. Magnachip Semiconductor had a negative return on equity of 4.64% and a negative net margin of 13.43%. The firm had revenue of $57.01 million during the quarter, compared to analysts’ expectations of $57.05 million. As a group, analysts expect that Magnachip Semiconductor will post -0.69 earnings per share for the current year.
About Magnachip Semiconductor
Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, notebook PCs, monitors and liquid crystal displays, and micro light-emitting diode (LED) televisions.