Magnachip Semiconductor Corp. (NYSE:MX) Short Interest Up 22.2% in March

Magnachip Semiconductor Corp. (NYSE:MX) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totaling 198,199 shares, an increase of 22.2% from the March 15th total of 162,211 shares. Currently, 0.6% of the company’s stock are short sold. Based on an average trading volume of 273,548 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Zacks Research upgraded Magnachip Semiconductor from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Weiss Ratings restated 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 Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, Magnachip Semiconductor has an average rating of “Moderate Buy” and an average price target of $5.50.

Magnachip Semiconductor Stock Down 0.6%

Shares of NYSE:MX traded down $0.02 during mid-day trading on Thursday, hitting $3.16. 218,403 shares of the company traded hands, compared to its average volume of 323,797. The stock has a market cap of $115.19 million, a P/E ratio of -3.90 and a beta of 0.87. The company has a current ratio of 4.07, a quick ratio of 3.29 and a debt-to-equity ratio of 0.18. Magnachip Semiconductor has a 12-month low of $2.18 and a 12-month high of $4.57. The stock has a 50-day moving average price of $2.85 and a two-hundred day moving average price of $2.83.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings results on Wednesday, March 4th. The semiconductor company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.24. Magnachip Semiconductor had a negative return on equity of 4.56% and a negative net margin of 16.62%.The business had revenue of $40.57 million during the quarter, compared to analyst estimates of $40.50 million. On average, equities research analysts forecast that Magnachip Semiconductor will post -1.22 earnings per share for the current year.

Institutional Trading of Magnachip Semiconductor

Several institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC lifted its position in shares of Magnachip Semiconductor by 22.9% during the first quarter. Cubist Systematic Strategies LLC now owns 60,638 shares of the semiconductor company’s stock valued at $208,000 after purchasing an additional 11,298 shares in the last quarter. Jane Street Group LLC bought a new stake in Magnachip Semiconductor in the 1st quarter worth about $115,000. American Century Companies Inc. increased its stake in Magnachip Semiconductor by 4.7% in the 2nd quarter. American Century Companies Inc. now owns 76,312 shares of the semiconductor company’s stock valued at $304,000 after buying an additional 3,451 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Magnachip Semiconductor by 78.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 271,381 shares of the semiconductor company’s stock valued at $1,080,000 after buying an additional 119,269 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in shares of 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 buying an additional 288,664 shares in the last quarter. Hedge funds and other institutional investors own 74.26% of the company’s stock.

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.