Magnachip Semiconductor (NYSE:MX) Stock: Insider Chae Lee Purchases 70,000 Shares

Key Points

• CEO Chae Lee purchased 70,000 shares at an average $2.22 each, spending $155,400 and increasing his direct stake by 18% to 458,750 shares.
• Magnachip reported a quarterly loss of $0.29 per share, worse than the $0.20 loss analysts expected; revenue of $43.98 million also fell short of the $47.50 million consensus.
• Analyst sentiment is cautious: the stock has a consensus rating of “Reduce,” with one analyst rating it Hold and another Sell.

Magnachip Semiconductor Corp. (NYSE:MX - Get Free Report) CEO Chae Lee bought 70,000 shares of the stock in a transaction that occurred on Friday, November 6th. The shares were purchased at an average cost of $2.22 per share, with a total value of $155,400.00. Following the purchase, the chief executive officer directly owned 458,750 shares of the company's stock, valued at $1,018,425. The trade was a 18.01% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Thursday, September 24th, Chae Lee bought 20,000 shares of Magnachip Semiconductor stock. The shares were acquired at an average price of $3.22 per share, for a total transaction of $64,400.00.
• On Wednesday, September 23rd, Chae Lee acquired 80,000 shares of Magnachip Semiconductor stock. The shares were bought at an average cost of $3.18 per share, with a total value of $254,400.00.

Magnachip Semiconductor Trading Up 6.0%

MX opened at $2.50 on Tuesday. Magnachip Semiconductor Corp. has a 1-year low of $1.92 and a 1-year high of $9.86. The company has a market cap of $95.18 million, a P/E ratio of -3.05 and a beta of 1.72. The company has a fifty day moving average price of $2.92 and a two-hundred day moving average price of $3.64. The company has a current ratio of 2.43, a quick ratio of 1.93 and a debt-to-equity ratio of 0.07.

Magnachip Semiconductor (NYSE:MX - Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.09). Magnachip Semiconductor had a negative return on equity of 11.30% and a negative net margin of 17.15%. The firm had revenue of $43.98 million during the quarter, compared to the consensus estimate of $47.50 million.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MX shares. Weiss Ratings reissued a "sell (d-)" rating on shares of Magnachip Semiconductor in a report on Thursday, October 29th. Wall Street Zen downgraded Magnachip Semiconductor from a "hold" rating to a "sell" rating in a report on Saturday. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Reduce".

Institutional Trading of Magnachip Semiconductor

A number of hedge funds have recently modified their holdings of MX. Almanack Investment Partners LLC. bought a new position in shares of Magnachip Semiconductor in the 3rd quarter worth about $626,000. WINTON GROUP Ltd bought a new position in shares of Magnachip Semiconductor during the second quarter valued at approximately $164,000. Squarepoint Ops LLC bought a new position in shares of Magnachip Semiconductor during the second quarter valued at approximately $319,000. TD Waterhouse Canada Inc. purchased a new position in shares of Magnachip Semiconductor during the second quarter valued at approximately $574,000. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Magnachip Semiconductor in the 2nd quarter worth approximately $90,000. Institutional investors own 74.26% of the company's stock.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Corporation NYSE: MX is a semiconductor company that designs and supplies analog and mixed-signal products. Its portfolio is focused primarily on power semiconductors and display solutions used in consumer electronics, communications equipment, automotive applications, industrial systems and other electronic devices.

The company's power products include metal-oxide-semiconductor field-effect transistors (MOSFETs), insulated-gate bipolar transistors (IGBTs), power integrated circuits and other discrete semiconductor devices designed to manage power conversion, distribution and efficiency.

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