Brigade Leveraged Capital Stru Sells 98,204 Shares of Magnachip Semiconductor Corp (NYSE:MX) Stock

Magnachip Semiconductor Corp (NYSE:MX) major shareholder Brigade Leveraged Capital Stru sold 98,204 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $12.26, for a total transaction of $1,203,981.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Magnachip Semiconductor stock traded down $0.18 during trading hours on Wednesday, reaching $11.98. 802,880 shares of the stock were exchanged, compared to its average volume of 231,821. The company has a market cap of $417.94 million, a P/E ratio of 16.87 and a beta of 0.92. Magnachip Semiconductor Corp has a twelve month low of $5.75 and a twelve month high of $12.53. The stock has a 50 day moving average of $10.74 and a two-hundred day moving average of $9.97.

Magnachip Semiconductor (NYSE:MX) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.17. The firm had revenue of $205.15 million for the quarter, compared to the consensus estimate of $194.00 million. Magnachip Semiconductor had a negative net margin of 3.85% and a negative return on equity of 20.36%. The business’s revenue for the quarter was up 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.23 earnings per share. On average, sell-side analysts predict that Magnachip Semiconductor Corp will post -0.29 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Brinker Capital Inc. acquired a new stake in Magnachip Semiconductor during the third quarter worth about $217,000. BlackRock Inc. acquired a new stake in shares of Magnachip Semiconductor in the 2nd quarter valued at approximately $219,000. Walleye Trading Advisors LLC acquired a new stake in shares of Magnachip Semiconductor in the 2nd quarter valued at approximately $307,000. Walleye Trading LLC acquired a new stake in shares of Magnachip Semiconductor in the 2nd quarter valued at approximately $327,000. Finally, Acadian Asset Management LLC acquired a new stake in shares of Magnachip Semiconductor in the 2nd quarter valued at approximately $367,000. Hedge funds and other institutional investors own 88.95% of the company’s stock.

A number of research firms recently commented on MX. Zacks Investment Research raised shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research report on Friday, October 4th. Citigroup set a $11.00 price target on shares of Magnachip Semiconductor and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Roth Capital set a $17.00 price target on shares of Magnachip Semiconductor and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, ValuEngine lowered shares of Magnachip Semiconductor from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $12.25.

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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