MagnaChip Semiconductor Corporation (NYSE: MX) is 27.96% higher on its value in year-to-date trading and has touched a low of $6.30 and a high of $16.88 in the current 52-week trading range. The MX stock was last observed hovering at around $16.00 in the last trading session, with the day’s gains setting it 1.3% off its average median price target of $19.00 for the next 12 months. It is also 17.62% off the consensus price target high of $21.00 offered by 4 analysts, but current levels are -15.33% lower than the price target low of $15.00 for the same period.
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Currently trading at $17.30, the stock is 28.26% and 25.32% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.56 million and changing 8.12% at the moment leaves the stock 40.74% off its SMA200. MX registered 42.39% gain for a year compared to 6-month gain of 71.80%. The firm has a 50-day simple moving average (SMA 50) of $9.06% and a 200-day simple moving average (SMA200) of $1.3M.
The stock witnessed a 24.19% loss in the last 1 month and extending the period to 3 months gives it a 21.23%, and is 28.72% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 6.83% over the week and 4.20% over the month.
MagnaChip Semiconductor Corporation (MX) has around 2451 employees, a market worth around $567.09M and $564.10M in sales. Current P/E ratio is 77.23 and Fwd P/E is 22.01. Profit margin for the company is 53.50%. Distance from 52-week low is 174.60% and 2.49% from its 52-week high. The company has generated returns on investments over the last 12 months (6.70%).
MagnaChip Semiconductor Corporation (MX) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for MagnaChip Semiconductor Corporation (MX) is a “Overweight”. 4 analysts offering their recommendations for the stock, where 1 rate it as a Hold and 0 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
MagnaChip Semiconductor Corporation is expected to release its quarterly report on 05/05/2021 and quarterly earnings per share for the current quarter are estimated at $0.18 with sales reaching $131.8M over the same period.The EPS is expected to shrink by -461.90% this year, but quarterly earnings will post -37.40% year-over-year. Quarterly sales are estimated to shrink -34.10% in year-over-year returns.
MagnaChip Semiconductor Corporation (MX) Top Institutional Holders
137 institutions hold shares in MagnaChip Semiconductor Corporation (MX), with 1.12M shares held by insiders accounting for 3.14% while institutional investors hold 102.63% of the company’s shares. The shares outstanding are 35.28M, and float is at 34.45M with Short Float at 9.35%. Institutions hold 99.40% of the Float.
The top institutional shareholder in the company is Federated Hermes, Inc. with over 2.96 million shares valued at $40.55 million. The investor’s holdings represent 8.33% of the MX Shares outstanding. As of Sep 29, 2020, the second largest holder is Oaktree Capital Management, LP with 2.94 million shares valued at $40.27 million to account for 8.27% of the shares outstanding. The other top investors are Rubric Capital Management LP which holds 2.61 million shares representing 7.35% and valued at over $35.79 million, while Brigade Capital Management, LLC holds 5.79% of the shares totaling 2.06 million with a market value of $28.18 million.
MagnaChip Semiconductor Corporation (MX) Insider Activity
A total of 27 insider transactions have happened at MagnaChip Semiconductor Corporation (MX) in the last six months, with sales accounting for 19 and purchases happening 8 times. The most recent transaction is an insider sale by BRIGADE CAPITAL MANAGEMENT, LP, the company’s 10% Owner. SEC filings show that BRIGADE CAPITAL MANAGEMENT, LP sold 75,000 shares of the company’s common stock on Nov 05 at a price of $14.46 per share for a total of $1.08 million. Following the sale, the insider now owns 1.12 million shares.
MagnaChip Semiconductor Corporation disclosed in a document filed with the SEC on Nov 04 that BRIGADE CAPITAL MANAGEMENT, LP (10% Owner) sold a total of 25,000 shares of the company’s common stock. The trade occurred on Nov 04 and was made at $14.28 per share for $0.36 million. Following the transaction, the insider now directly holds 1.19 million shares of the MX stock.
Still, SEC filings show that on Oct 30, BRIGADE CAPITAL MANAGEMENT, LP (10% Owner) disposed off 75,000 shares at an average price of $14.20 for $1.06 million. The insider now directly holds 1,219,806 shares of MagnaChip Semiconductor Corporation (MX).
MagnaChip Semiconductor Corporation (MX): Who are the competitors?
The company’s main competitors (and peers) include Himax Technologies Inc. (HIMX) that is trading 110.68% up over the past 12 months. LG Display Co. Ltd. (LPL) is 31.52% up on the 1-year trading charts.