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

Magnachip Semiconductor Corp. (NYSE:MX) CEO Chae Lee acquired 20,000 shares of the business’s stock in a transaction on Thursday, September 24th. The shares were purchased at an average price of $3.22 per share, for a total transaction of $64,400.00. Following the purchase, the chief executive officer directly owned 388,750 shares of the company’s stock, valued at $1,251,775. This represents a 5.42% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 bought at an average price of $3.18 per share, for a total transaction of $254,400.00.

Magnachip Semiconductor Stock Performance

Shares of Magnachip Semiconductor stock traded up $0.14 during trading on Friday, hitting $3.33. 1,992,115 shares of the stock were exchanged, compared to its average volume of 1,287,669. Magnachip Semiconductor Corp. has a 12 month low of $2.18 and a 12 month high of $9.86. The stock has a market cap of $121.40 million, a PE ratio of -3.96 and a beta of 1.65. The stock’s fifty day moving average is $3.31 and its 200 day moving average is $4.00. 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 (NYSE:MX) last released its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported ($0.13) earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $46.50 million.

Institutional Investors Weigh In On Magnachip Semiconductor

Several hedge funds have recently made changes to their positions in MX. Connor Clark & Lunn Investment Management Ltd. bought a new position in Magnachip Semiconductor in the second quarter worth $1,953,000. FourWorld Capital Management LLC grew its stake in 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 worth $4,642,000 after buying an additional 1,441,593 shares during the last quarter. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Magnachip Semiconductor during the fourth quarter worth approximately $178,000. Potomac Capital Management Inc. bought a new stake in shares of Magnachip Semiconductor during the fourth quarter worth $987,000. Finally, First Wilshire Securities Management Inc. grew its holdings in Magnachip Semiconductor by 53.8% during the 4th quarter. First Wilshire Securities Management Inc. now owns 732,857 shares of the semiconductor company’s stock worth $1,869,000 after acquiring an additional 256,211 shares during the last quarter. Institutional investors own 74.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Magnachip Semiconductor in a report on Friday, July 31st. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Magnachip Semiconductor currently has a consensus rating of “Reduce”.

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.