Magnachip Semiconductor (NYSE:MX) Stock: Insider Chae Lee Buys 80,000 Shares

Magnachip Semiconductor Corp. (NYSE:MX) CEO Chae Lee purchased 80,000 shares of Magnachip Semiconductor stock in a transaction that occurred on Wednesday, September 23rd. The shares were acquired at an average price of $3.18 per share, with a total value of $254,400.00. Following the acquisition, the chief executive officer directly owned 368,750 shares of the company’s stock, valued at $1,172,625. This trade represents a 27.71% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Chae Lee also recently made the following trade(s):

• On Thursday, September 24th, Chae Lee acquired 20,000 shares of Magnachip Semiconductor stock. The shares were bought at an average cost of $3.22 per share, with a total value of $64,400.00.

Magnachip Semiconductor Stock Performance

Shares of MX stock traded up $0.14 during midday trading on Friday, hitting $3.33. 1,992,115 shares of the company were exchanged, compared to its average volume of 1,287,669. The firm has a market capitalization of $121.40 million, a P/E ratio of -3.96 and a beta of 1.65. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.93 and a current ratio of 2.43. Magnachip Semiconductor Corp. has a 52 week low of $2.18 and a 52 week high of $9.86. The firm’s 50 day moving average price is $3.31 and its two-hundred day moving average price is $4.00.

Magnachip Semiconductor (NYSE:MX) last posted its earnings results on Wednesday, July 29th. The semiconductor company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.22) by $0.09. Magnachip Semiconductor had a negative return on equity of 5.84% and a negative net margin of 17.26%.The company had revenue of $44.70 million for the quarter, compared to the consensus estimate of $46.50 million.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Magnachip Semiconductor in a research report on Friday, July 31st. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Institutional Trading of Magnachip Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MX. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Magnachip Semiconductor during the 2nd quarter worth approximately $1,953,000. FourWorld Capital Management LLC lifted its position in shares of Magnachip Semiconductor by 667.1% during the first quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company’s stock valued at $4,642,000 after purchasing an additional 1,441,593 shares in the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Magnachip Semiconductor in the 4th quarter worth about $178,000. Potomac Capital Management Inc. bought a new position in shares of Magnachip Semiconductor during the 4th quarter worth approximately $987,000. Finally, First Wilshire Securities Management Inc. increased its position in shares of Magnachip Semiconductor by 53.8% during the fourth quarter. First Wilshire Securities Management Inc. now owns 732,857 shares of the semiconductor company’s stock valued at $1,869,000 after acquiring an additional 256,211 shares during the last quarter. Institutional investors and hedge funds own 74.26% of the company’s stock.

About Magnachip Semiconductor

Magnachip Semiconductor Corporation is a semiconductor company that designs and supplies analog and mixed-signal products for consumer, industrial, automotive, communications and computing applications. Its portfolio includes power management products, power discrete devices, display driver integrated circuits and other specialty semiconductor solutions.

The company’s power products include metal-oxide-semiconductor field-effect transistors, insulated-gate bipolar transistors and power integrated circuits used to manage, convert and regulate electrical power in electronic systems.