146 institutions hold shares in MagnaChip Semiconductor Corporation (MX), with 1.22M shares held by insiders accounting for 2.65% while institutional investors hold 79.30% of the company’s shares. The shares outstanding are 35.59M, and float is at 34.45M with Short Float at 8.65%. Institutions hold 77.21% of the Float.
The top institutional shareholder in the company is Oaktree Capital Management, LP with over 3.21 million shares valued at $43.46 million. The investor’s holdings represent 6.97% of the MX Shares outstanding. As of Dec 30, 2020, the second largest holder is Federated Hermes, Inc. with 2.96 million shares valued at $40.01 million to account for 6.42% of the shares outstanding. The other top investors are Rubric Capital Management LP which holds 2.61 million shares representing 5.66% and valued at over $35.32 million, while Morgan Stanley holds 5.60% of the shares totaling 2.59 million with a market value of $34.95 million.
MagnaChip Semiconductor Corporation (NYSE: MX) is 99.41% higher on its value in year-to-date trading and has touched a low of $9.47 and a high of $26.70 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MX stock was last observed hovering at around $25.04 in the last trading session, with the day’s gains setting it 1.92% off its average median price target of $30.00 for the next 12 months. It is also 10.13% off the consensus price target high of $30.00 offered by 3 analysts, but current levels are -34.8% lower than the price target low of $20.00 for the same period.
Currently trading at $26.96, the stock is 18.03% and 31.76% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.49 million and changing 7.67% at the moment leaves the stock 81.37% off its SMA200. MX registered 145.99% gain for a year compared to 6-month gain of 95.36%. The firm has a 50-day simple moving average (SMA 50) of $21.57 and a 200-day simple moving average (SMA200) of $16.48.
The stock witnessed a 24.53% loss in the last 1 month and extending the period to 3 months gives it a 99.41%, and is 3.65% 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 3.80% over the week and 6.15% over the month.
MagnaChip Semiconductor Corporation (MX) has around 880 employees, a market worth around $1.24B and $507.10M in sales. Current P/E ratio is 70.03 and Fwd P/E is 24.22. Profit margin for the company is 68.00%. Distance from 52-week low is 184.69% and 0.97% from its 52-week high. The company has generated returns on investments over the last 12 months (16.90%).
MagnaChip Semiconductor Corporation (MX) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for MagnaChip Semiconductor Corporation (MX) is a “Overweight”. 3 analysts offering their recommendations for the stock have an average rating of 2.00, where 1 rate it as a Hold and 0 think it is a “Overweight”. 2 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 08/05/2021 and quarterly earnings per share for the current quarter are estimated at $0.14 with sales reaching $121.7M over the same period.The EPS is expected to grow by 306.30% this year, but quarterly earnings will post 5.40% year-over-year.
MagnaChip Semiconductor Corporation (MX) Insider Activity
A total of 37 insider transactions have happened at MagnaChip Semiconductor Corporation (MX) in the last six months, with sales accounting for 27 and purchases happening 10 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 401.06% up over the past 12 months and ON Semiconductor Corporation (ON) that is 290.68% higher over the same period. LG Display Co. Ltd. (LPL) is 144.65% up on the 1-year trading charts. Short interest in the company’s stock has fallen -41.95% from the last report on Feb 11, 2021 to stand at a total of 4.23 million short shares sold with a short interest ratio of 2.51.