Brigade Capital Management, Lp Acquires 30,000 Shares of Magnachip Semiconductor Corp (MX) Stock

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Magnachip Semiconductor Corp (NYSE:MX) major shareholder Brigade Capital Management, Lp bought 30,000 shares of the stock in a transaction that occurred on Wednesday, January 9th. The shares were bought at an average cost of $6.82 per share, with a total value of $204,600.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Brigade Capital Management, Lp also recently made the following trade(s):

  • On Friday, December 21st, Brigade Capital Management, Lp bought 16,000 shares of Magnachip Semiconductor stock. The shares were bought at an average cost of $6.15 per share, with a total value of $98,400.00.
  • On Thursday, December 13th, Brigade Capital Management, Lp bought 515,000 shares of Magnachip Semiconductor stock. The shares were bought at an average cost of $7.00 per share, with a total value of $3,605,000.00.

MX opened at $6.56 on Friday. Magnachip Semiconductor Corp has a 12 month low of $5.94 and a 12 month high of $13.35. The firm has a market cap of $237.85 million, a P/E ratio of 8.63 and a beta of 0.55.

Magnachip Semiconductor (NYSE:MX) last released its earnings results on Tuesday, October 30th. The semiconductor company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. Magnachip Semiconductor had a negative return on equity of 108.44% and a net margin of 5.65%. The firm had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $205.00 million. During the same period in the previous year, the firm posted $0.28 EPS. Magnachip Semiconductor’s revenue for the quarter was up 16.6% on a year-over-year basis. Analysts anticipate that Magnachip Semiconductor Corp will post 0.44 earnings per share for the current fiscal year.

Several research analysts recently commented on MX shares. ValuEngine cut Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research note on Tuesday, October 2nd. Roth Capital lowered their target price on Magnachip Semiconductor from $18.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, October 23rd. Finally, Citigroup lowered their target price on Magnachip Semiconductor from $12.00 to $9.40 and set a “neutral” rating for the company in a research note on Thursday, November 1st. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $12.47.

Large investors have recently added to or reduced their stakes in the company. Point72 Asset Management L.P. boosted its position in shares of Magnachip Semiconductor by 97.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 509,000 shares of the semiconductor company’s stock worth $5,217,000 after acquiring an additional 251,200 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Magnachip Semiconductor during the 2nd quarter worth about $2,649,000. GSA Capital Partners LLP boosted its position in shares of Magnachip Semiconductor by 24.1% during the 3rd quarter. GSA Capital Partners LLP now owns 141,100 shares of the semiconductor company’s stock worth $1,397,000 after acquiring an additional 27,400 shares in the last quarter. Algert Global LLC boosted its position in shares of Magnachip Semiconductor by 582.3% during the 3rd quarter. Algert Global LLC now owns 140,617 shares of the semiconductor company’s stock worth $1,392,000 after acquiring an additional 120,009 shares in the last quarter. Finally, Clearline Capital LP boosted its position in shares of Magnachip Semiconductor by 31.0% during the 3rd quarter. Clearline Capital LP now owns 304,636 shares of the semiconductor company’s stock worth $3,016,000 after acquiring an additional 72,041 shares in the last quarter. 87.58% of the stock is owned by institutional investors and hedge funds.

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Magnachip Semiconductor Company Profile

MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.

Further Reading: Market Capitalization and Individual Investors

Insider Buying and Selling by Quarter for Magnachip Semiconductor (NYSE:MX)

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