Magnachip Semiconductor Corp (NYSE:MX) Major Shareholder Sells $777,000.00 in Stock

Magnachip Semiconductor Corp (NYSE:MX) major shareholder Brigade Leveraged Capital Stru sold 60,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $12.95, for a total value of $777,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Brigade Leveraged Capital Stru also recently made the following trade(s):

  • On Wednesday, November 6th, Brigade Leveraged Capital Stru sold 50,000 shares of Magnachip Semiconductor stock. The shares were sold at an average price of $12.78, for a total value of $639,000.00.
  • On Friday, November 1st, Brigade Leveraged Capital Stru sold 100,055 shares of Magnachip Semiconductor stock. The shares were sold at an average price of $12.89, for a total value of $1,289,708.95.
  • On Wednesday, October 30th, Brigade Leveraged Capital Stru sold 67,528 shares of Magnachip Semiconductor stock. The shares were sold at an average price of $12.91, for a total value of $871,786.48.
  • On Monday, October 28th, Brigade Leveraged Capital Stru sold 229,296 shares of Magnachip Semiconductor stock. The shares were sold at an average price of $13.29, for a total value of $3,047,343.84.
  • On Friday, October 25th, Brigade Leveraged Capital Stru sold 59,414 shares of Magnachip Semiconductor stock. The shares were sold at an average price of $13.02, for a total value of $773,570.28.
  • On Wednesday, October 23rd, Brigade Leveraged Capital Stru sold 80,528 shares of Magnachip Semiconductor stock. The shares were sold at an average price of $12.21, for a total value of $983,246.88.
  • On Monday, October 21st, Brigade Leveraged Capital Stru sold 98,204 shares of Magnachip Semiconductor stock. The shares were sold at an average price of $12.26, for a total value of $1,203,981.04.

Shares of MX opened at $12.39 on Friday. Magnachip Semiconductor Corp has a 1 year low of $5.75 and a 1 year high of $13.80. The company has a market capitalization of $441.65 million, a price-to-earnings ratio of 17.45 and a beta of 0.98. The business has a 50-day moving average of $11.45 and a 200-day moving average of $10.35.

Magnachip Semiconductor (NYSE:MX) last issued its quarterly earnings data on Wednesday, October 23rd. The semiconductor company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.22. Magnachip Semiconductor had a negative return on equity of 19.90% and a negative net margin of 6.17%. The company had revenue of $229.70 million during the quarter, compared to the consensus estimate of $225.00 million. During the same period last year, the company earned $0.32 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year. On average, research analysts predict that Magnachip Semiconductor Corp will post 0.09 EPS for the current fiscal year.

Several research firms have commented on MX. ValuEngine downgraded Magnachip Semiconductor from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Roth Capital set a $17.00 target price on Magnachip Semiconductor and gave the company a “buy” rating in a research report on Wednesday, July 31st. Zacks Investment Research upgraded Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $15.00 target price for the company in a research report on Wednesday, October 30th. Citigroup set a $11.00 price objective on Magnachip Semiconductor and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Finally, TheStreet upgraded Magnachip Semiconductor from a “d+” rating to a “c-” rating in a research report on Monday, October 28th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $13.25.

Institutional investors and hedge funds have recently modified their holdings of the company. California Public Employees Retirement System increased its holdings in Magnachip Semiconductor by 32.0% in the third quarter. California Public Employees Retirement System now owns 14,247 shares of the semiconductor company’s stock worth $144,000 after purchasing an additional 3,453 shares in the last quarter. Brinker Capital Inc. bought a new stake in Magnachip Semiconductor in the third quarter worth approximately $217,000. BlackRock Inc. bought a new stake in Magnachip Semiconductor in the second quarter worth approximately $219,000. Walleye Trading Advisors LLC bought a new stake in Magnachip Semiconductor in the second quarter worth approximately $307,000. Finally, Walleye Trading LLC bought a new stake in Magnachip Semiconductor in the second quarter worth approximately $327,000. Institutional investors own 87.56% of the company’s stock.

About Magnachip Semiconductor

MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.

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