Magnachip Semiconductor Corp (NYSE:MX) Major Shareholder Brigade Leveraged Capital Stru Sells 60,000 Shares

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Magnachip Semiconductor Corp (NYSE:MX) major shareholder Brigade Leveraged Capital Stru sold 60,000 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $12.95, for a total value of $777,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was 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 stock was sold at an average price of $12.26, for a total value of $1,203,981.04.

Shares of MX stock opened at $12.39 on Friday. The stock has a market capitalization of $441.65 million, a PE ratio of 17.45 and a beta of 0.98. Magnachip Semiconductor Corp has a 1-year low of $5.75 and a 1-year high of $13.80. 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 earnings results on Wednesday, October 23rd. The semiconductor company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.22. The company had revenue of $229.70 million during the quarter, compared to analysts’ expectations of $225.00 million. Magnachip Semiconductor had a negative return on equity of 19.90% and a negative net margin of 6.17%. Magnachip Semiconductor’s quarterly revenue was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 EPS. Research analysts anticipate that Magnachip Semiconductor Corp will post 0.09 EPS for the current fiscal year.

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

A number of hedge funds have recently modified their holdings of the stock. Systematic Financial Management LP purchased a new stake in Magnachip Semiconductor during the 3rd quarter valued at about $11,218,000. D. E. Shaw & Co. Inc. raised its position in Magnachip Semiconductor by 15.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 563,426 shares of the semiconductor company’s stock valued at $5,832,000 after purchasing an additional 75,506 shares during the last quarter. Point72 Asset Management L.P. raised its position in Magnachip Semiconductor by 1.0% during the 2nd quarter. Point72 Asset Management L.P. now owns 504,800 shares of the semiconductor company’s stock valued at $5,225,000 after purchasing an additional 4,800 shares during the last quarter. Worth Venture Partners LLC raised its position in Magnachip Semiconductor by 65.6% during the 2nd quarter. Worth Venture Partners LLC now owns 116,000 shares of the semiconductor company’s stock valued at $1,201,000 after purchasing an additional 45,950 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new position in Magnachip Semiconductor during the 2nd quarter valued at approximately $861,000. Institutional investors own 87.56% of the company’s stock.

Magnachip Semiconductor Company Profile

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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