Short Interest in Magnachip Semiconductor Co. (NYSE:MX) Expands By 25.2%

Magnachip Semiconductor Co. (NYSE:MX) was the recipient of a large increase in short interest in the month of August. As of August 15th, there was short interest totalling 242,200 shares, an increase of 25.2% from the July 31st total of 193,500 shares. Based on an average daily volume of 199,800 shares, the short-interest ratio is presently 1.2 days. Currently, 0.7% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC dropped their price target on shares of Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st.

Magnachip Semiconductor Stock Performance

NYSE MX opened at $4.72 on Friday. The company has a quick ratio of 4.34, a current ratio of 5.03 and a debt-to-equity ratio of 0.09. Magnachip Semiconductor has a twelve month low of $4.69 and a twelve month high of $8.63. The stock has a 50-day moving average of $4.97 and a 200 day moving average of $5.21.

Magnachip Semiconductor (NYSE:MX) last announced its earnings results on Wednesday, July 31st. The semiconductor company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.13. Magnachip Semiconductor had a negative return on equity of 10.29% and a negative net margin of 18.49%. The business had revenue of $53.17 million during the quarter, compared to the consensus estimate of $51.45 million. As a group, equities research analysts expect that Magnachip Semiconductor will post -1.13 earnings per share for the current fiscal year.

Institutional Trading of Magnachip Semiconductor

Several institutional investors have recently modified their holdings of MX. Clearline Capital LP boosted its stake in shares of Magnachip Semiconductor by 37.5% in the second quarter. Clearline Capital LP now owns 1,683,676 shares of the semiconductor company’s stock worth $8,200,000 after acquiring an additional 459,365 shares during the last quarter. Vanguard Group Inc. raised its stake in Magnachip Semiconductor by 2.8% during the first quarter. Vanguard Group Inc. now owns 1,049,496 shares of the semiconductor company’s stock worth $5,856,000 after purchasing an additional 28,860 shares during the period. Millennium Management LLC lifted its holdings in Magnachip Semiconductor by 9.7% in the second quarter. Millennium Management LLC now owns 562,094 shares of the semiconductor company’s stock valued at $2,737,000 after acquiring an additional 49,670 shares during the last quarter. Grizzlyrock Capital LLC purchased a new position in shares of Magnachip Semiconductor during the 4th quarter worth $2,462,000. Finally, BNP Paribas Financial Markets raised its holdings in Magnachip Semiconductor by 4.4% in the 4th quarter. BNP Paribas Financial Markets now owns 196,838 shares of the semiconductor company’s stock valued at $1,476,000 after buying an additional 8,266 shares during the period. Institutional investors and hedge funds own 74.26% of the company’s stock.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.