Magnachip Semiconductor (NYSE:MX) CEO Chae Lee Purchases 20,000 Shares of Stock

Key Points

• CEO Chae Lee bought 20,000 shares of Magnachip Semiconductor at $3.22 each, worth $64,400, increasing his stake by 5.42% to 388,750 shares. He also purchased 80,000 shares the previous day.
• Magnachip shares recently traded at $3.33, well below the 12-month high of $9.86, while the company reported a quarterly loss of $0.13 per share and $44.7 million in revenue.
• Analyst sentiment remains cautious: the stock has an average rating of “Reduce”, including one Hold and one Sell rating, despite institutional investors owning 74.26% of shares.

Magnachip Semiconductor Corp. (NYSE:MX - Get Free Report) CEO Chae Lee purchased 20,000 shares of the stock in a transaction on Thursday, September 24th. The shares were purchased at an average cost of $3.22 per share, with a total value of $64,400.00. Following the transaction, the chief executive officer owned 388,750 shares in the company, valued at $1,251,775. This trade represents a 5.42% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, September 23rd, Chae Lee purchased 80,000 shares of Magnachip Semiconductor stock. The shares were purchased at an average price of $3.18 per share, for a total transaction of $254,400.00.

Magnachip Semiconductor Price Performance

NYSE:MX traded up $0.14 during trading hours on Friday, reaching $3.33. 1,992,115 shares of the company were exchanged, compared to its average volume of 1,287,669. Magnachip Semiconductor Corp. has a twelve month low of $2.18 and a twelve month high of $9.86. The company has a current ratio of 2.43, a quick ratio of 1.93 and a debt-to-equity ratio of 0.07. The stock's 50-day moving average is $3.31 and its 200-day moving average is $4.00. The firm has a market cap of $121.40 million, a PE ratio of -3.96 and a beta of 1.65.

Magnachip Semiconductor (NYSE:MX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The semiconductor company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.22) by $0.09. The firm had revenue of $44.70 million for the quarter, compared to the consensus estimate of $46.50 million. Magnachip Semiconductor had a negative return on equity of 5.84% and a negative net margin of 17.26%.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "sell (d-)" rating on shares of Magnachip Semiconductor in a report on Friday, July 31st. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce".

Institutional Investors Weigh In On Magnachip Semiconductor

Hedge funds and other institutional investors have recently modified their holdings of the stock. Lepercq De Neuflize Asset Management LLC raised its position in Magnachip Semiconductor by 162.3% during the fourth quarter. Lepercq De Neuflize Asset Management LLC now owns 2,694,527 shares of the semiconductor company's stock worth $6,871,000 after acquiring an additional 1,667,434 shares during the last quarter. FourWorld Capital Management LLC grew its holdings in Magnachip Semiconductor by 667.1% in the 1st quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company's stock valued at $4,642,000 after buying an additional 1,441,593 shares during the period. First Wilshire Securities Management Inc. increased its position in Magnachip Semiconductor by 1.5% during the first quarter. First Wilshire Securities Management Inc. now owns 743,953 shares of the semiconductor company's stock worth $2,083,000 after purchasing an additional 11,096 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Magnachip Semiconductor in the second quarter worth $1,953,000. Finally, Potomac Capital Management Inc. purchased a new stake in shares of Magnachip Semiconductor in the fourth quarter worth about $987,000. 74.26% of the stock is currently owned by institutional investors and hedge funds.

Magnachip Semiconductor Company Profile

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.

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