Magnachip Semiconductor Corp. (NYSE:MX) Sees Significant Growth in Short Interest

Magnachip Semiconductor Corp. (NYSE:MX) was the target of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 278,254 shares, a growth of 83.8% from the April 15th total of 151,391 shares. Based on an average daily trading volume, of 3,055,581 shares, the short-interest ratio is presently 0.1 days. Approximately 0.8% of the shares of the company are short sold.

Hedge Funds Weigh In On Magnachip Semiconductor

Several large investors have recently modified their holdings of the business. American Century Companies Inc. increased its stake in shares of Magnachip Semiconductor by 4.7% in the second quarter. American Century Companies Inc. now owns 76,312 shares of the semiconductor company’s stock worth $304,000 after purchasing an additional 3,451 shares in the last quarter. BNP Paribas Financial Markets grew its stake in Magnachip Semiconductor by 1.9% during the third quarter. BNP Paribas Financial Markets now owns 315,732 shares of the semiconductor company’s stock valued at $988,000 after acquiring an additional 5,764 shares in the last quarter. Vanguard Group Inc. grew its stake in Magnachip Semiconductor by 0.6% during the third quarter. Vanguard Group Inc. now owns 1,030,024 shares of the semiconductor company’s stock valued at $3,224,000 after acquiring an additional 6,519 shares in the last quarter. Engineers Gate Manager LP grew its stake in Magnachip Semiconductor by 15.4% during the second quarter. Engineers Gate Manager LP now owns 59,648 shares of the semiconductor company’s stock valued at $237,000 after acquiring an additional 7,941 shares in the last quarter. Finally, Quadrature Capital Ltd grew its stake in Magnachip Semiconductor by 57.0% during the fourth quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 8,863 shares in the last quarter. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Analyst Ratings Changes

MX has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. Zacks Research downgraded shares of Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Wall Street Zen upgraded shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $5.50.

Magnachip Semiconductor Price Performance

MX opened at $4.35 on Monday. The company has a market capitalization of $158.66 million, a price-to-earnings ratio of -6.22 and a beta of 1.00. The company has a quick ratio of 1.91, a current ratio of 2.37 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $3.34 and a 200-day moving average price of $2.97. Magnachip Semiconductor has a twelve month low of $2.18 and a twelve month high of $5.64.

Magnachip Semiconductor (NYSE:MX) last posted its earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.11. The firm had revenue of $46.21 million during the quarter, compared to the consensus estimate of $46.00 million. Magnachip Semiconductor had a negative net margin of 14.14% and a negative return on equity of 4.68%.

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.