Magnachip Semiconductor Corp. (NYSE:MX) Short Interest Down 42.5% in January

Magnachip Semiconductor Corp. (NYSE:MX) was the target of a significant drop in short interest during the month of January. As of January 15th, there was short interest totaling 146,735 shares, a drop of 42.5% from the December 31st total of 255,308 shares. Approximately 0.4% of the shares of the company are sold short. Based on an average daily volume of 276,666 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 276,666 shares, the short-interest ratio is currently 0.5 days. Approximately 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MX. Lepercq De Neuflize Asset Management LLC purchased a new stake in shares of Magnachip Semiconductor in the 3rd quarter valued at approximately $3,215,000. First Wilshire Securities Management Inc. purchased a new position in shares of Magnachip Semiconductor in the 2nd quarter valued at about $1,834,000. Marshall Wace LLP grew its holdings in Magnachip Semiconductor by 70.3% during the 2nd quarter. Marshall Wace LLP now owns 699,525 shares of the semiconductor company’s stock worth $2,784,000 after acquiring an additional 288,664 shares in the last quarter. Immersion Corp increased its holdings in Magnachip Semiconductor by 8.2% in the second quarter. Immersion Corp now owns 3,213,966 shares of the semiconductor company’s stock valued at $12,792,000 after buying an additional 243,827 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of Magnachip Semiconductor by 17.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,432,843 shares of the semiconductor company’s stock valued at $4,485,000 after acquiring an additional 208,417 shares during the last quarter. 74.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MX has been the topic of a number of recent analyst reports. Wall Street Zen cut shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Weiss Ratings restated a “sell (e+)” rating on shares of Magnachip Semiconductor in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $5.50.

Magnachip Semiconductor Stock Down 1.9%

NYSE MX traded down $0.06 on Friday, hitting $2.90. The stock had a trading volume of 176,703 shares, compared to its average volume of 308,293. Magnachip Semiconductor has a 52-week low of $2.18 and a 52-week high of $5.16. The business’s fifty day moving average price is $2.79 and its 200 day moving average price is $3.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.32 and a quick ratio of 3.50. The stock has a market cap of $104.16 million, a price-to-earnings ratio of -2.81 and a beta of 0.97.

Magnachip Semiconductor (NYSE:MX) last released its earnings results on Monday, November 3rd. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.07. Magnachip Semiconductor had a negative return on equity of 2.93% and a negative net margin of 18.84%.The firm had revenue of $45.95 million for the quarter, compared to the consensus estimate of $46.00 million. Equities research analysts anticipate that Magnachip Semiconductor will post -1.22 earnings per share for the current 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.