Short Interest in Magnachip Semiconductor Corp. (NYSE:MX) Expands By 58.8%

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

Institutional Trading of Magnachip Semiconductor

Hedge funds and other institutional investors have recently made changes to their positions in the company. LPL Financial LLC acquired a new position in shares of Magnachip Semiconductor in the fourth quarter valued at approximately $30,000. Sei Investments Co. acquired a new stake in Magnachip Semiconductor during the 2nd quarter worth approximately $61,000. Quadrature Capital Ltd grew its holdings in Magnachip Semiconductor by 57.0% during the 4th quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 8,863 shares during the last quarter. XTX Topco Ltd acquired a new position in Magnachip Semiconductor in the 4th quarter valued at approximately $65,000. Finally, Boothbay Fund Management LLC acquired a new position in Magnachip Semiconductor in the 4th quarter valued at approximately $69,000. 74.26% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Magnachip Semiconductor Price Performance

Shares of NYSE MX traded up $0.05 during midday trading on Friday, reaching $2.81. 136,180 shares of the company were exchanged, compared to its average volume of 420,709. The stock’s 50-day moving average price is $2.88 and its 200-day moving average price is $2.88. The stock has a market cap of $100.92 million, a P/E ratio of -3.46 and a beta of 1.02. The company has a quick ratio of 3.50, a current ratio of 4.32 and a debt-to-equity ratio of 0.15. Magnachip Semiconductor has a one year low of $2.18 and a one year high of $4.57.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings data on Wednesday, March 4th. The semiconductor company reported ($0.08) earnings per share for the quarter, beating the consensus estimate of ($0.32) by $0.24. The company had revenue of $40.57 million for the quarter, compared to the consensus estimate 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 anticipate that Magnachip Semiconductor will post -1.22 earnings per share for the current fiscal year.

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.