Magnachip Semiconductor (NYSE:MX) Stock: Insider Chae Lee Acquires 70,000 Shares

Magnachip Semiconductor Corp. (NYSE:MX) CEO Chae Lee bought 70,000 shares of the firm’s stock in a transaction dated Friday, November 6th. The stock was purchased at an average price of $2.22 per share, with a total value of $155,400.00. Following the transaction, the chief executive officer owned 458,750 shares in the company, valued at approximately $1,018,425. This represents a 18.01% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Chae Lee also recently made the following trade(s):

• On Thursday, September 24th, Chae Lee purchased 20,000 shares of Magnachip Semiconductor stock. The stock was purchased at an average price of $3.22 per share, with a total value of $64,400.00.
• On Wednesday, September 23rd, Chae Lee purchased 80,000 shares of Magnachip Semiconductor stock. The shares were purchased at an average cost of $3.18 per share, for a total transaction of $254,400.00.

Magnachip Semiconductor Stock Performance

MX stock opened at $2.96 on Thursday. The stock’s 50 day simple moving average is $2.91 and its 200 day simple moving average is $3.64. Magnachip Semiconductor Corp. has a 12-month low of $1.92 and a 12-month high of $9.86. The firm has a market cap of $112.74 million, a P/E ratio of -3.61 and a beta of 1.72. The company has a current ratio of 2.65, a quick ratio of 2.02 and a debt-to-equity ratio of 0.07.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings data on Wednesday, November 4th. The semiconductor company reported ($0.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.09). Magnachip Semiconductor had a negative return on equity of 11.18% and a negative net margin of 17.15%. The business had revenue of $43.98 million during the quarter, compared to analyst estimates of $47.50 million.

Institutional Trading of Magnachip Semiconductor

Institutional investors and hedge funds have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Magnachip Semiconductor in the 2nd quarter worth approximately $1,953,000. FourWorld Capital Management LLC boosted its position in Magnachip Semiconductor by 667.1% during the 1st quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company’s stock valued at $4,642,000 after purchasing an additional 1,441,593 shares during the period. GSA Capital Partners LLP bought a new position in Magnachip Semiconductor during the 2nd quarter worth $946,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in Magnachip Semiconductor during the 2nd quarter worth $54,000. Finally, Renaissance Technologies LLC bought a new position in Magnachip Semiconductor during the 1st quarter worth $99,000. 74.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MX has been the topic of a number of recent research reports. Wall Street Zen downgraded shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, November 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Magnachip Semiconductor in a research report on Thursday, October 29th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

About Magnachip Semiconductor

Magnachip Semiconductor Corporation (NYSE: MX) is a semiconductor company that designs and supplies analog and mixed-signal products. Its portfolio is focused primarily on power semiconductors and display solutions used in consumer electronics, communications equipment, automotive applications, industrial systems and other electronic devices. The company’s power products include metal-oxide-semiconductor field-effect transistors (MOSFETs), insulated-gate bipolar transistors (IGBTs), power integrated circuits and other discrete semiconductor devices designed to manage power conversion, distribution and efficiency.