Is a Correction Looming Ahead for MagnaChip Semiconductor Corporation (MX)

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MagnaChip Semiconductor Corporation (NYSE:MX) went up by 11.10% from its latest closing price compared to the recent 1-year high of $21.25. The company’s stock price has collected 0.97% of gains in the last five trading sessions. Press Release reported on 02/18/21 that Magnachip Enters Full-Scale Mass Production of High Frame Rate OLED DDIC for 5G Smartphones with QHD Displays

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Is It Worth Investing in MagnaChip Semiconductor Corporation (NYSE :MX) Right Now?

MagnaChip Semiconductor Corporation (NYSE:MX) scored a price-to-earnings ratio above its average ratio, recording 19.08 x from its present earnings ratio. Plus, the 36-month beta value for MX is at 0.97. Opinions of the stock are interesting as 3 analysts out of 4 who provided ratings for MagnaChip Semiconductor Corporation declared the stock was a “buy,” while 0 rated the stock as “overweight,” 1 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $26.25, which is $5.33 above the current price. MX currently public float of 34.45M and currently shorts hold a 12.28% ratio of that float. Today, the average trading volume of MX was 604.82K shares.

MX’s Market Performance

MX stocks went up by 0.97% for the week, with a monthly jump of 10.83% and a quarterly performance of 32.14%, while its annual performance rate touched 67.83%. The volatility ratio for the week stands at 5.55% while the volatility levels for the past 30 days are set at 4.51% for MagnaChip Semiconductor Corporation. The simple moving average for the period of the last 20 days is 9.91% for MX stocks with a simple moving average of 53.78% for the last 200 days.

Analysts’ Opinion of MX

Many brokerage firms have already submitted their reports for MX stocks, with Needham repeating the rating for MX by listing it as a “Buy.” The predicted price for MX in the upcoming period, according to Needham is $25 based on the research report published on January 13th of the current year 2021.

Oppenheimer, on the other hand, stated in their research note that they expect to see MX reach a price target of $21. The rating they have provided for MX stocks is “Outperform” according to the report published on January 08th, 2021.

Citigroup gave a rating of “Neutral” to MX, setting the target price at $11 in the report published on August 07th of the previous year.

MX Trading at 22.60% from the 50-Day Moving Average

After a stumble in the market that brought MX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -1.55% of loss for the given period.

Volatility was left at 4.51%, however, over the last 30 days, the volatility rate increased by 5.55%, as shares surge +19.08% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +65.43% upper at present.

During the last 5 trading sessions, MX rose by +12.14%, which changed the moving average for the period of 200-days by +115.12% in comparison to the 20-day moving average, which settled at $19.20. In addition, MagnaChip Semiconductor Corporation saw 39.28% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at MX starting from BRIGADE CAPITAL MANAGEMENT, LP, who sale 75,000 shares at the price of $14.46 back on Nov 05. After this action, BRIGADE CAPITAL MANAGEMENT, LP now owns 1,119,806 shares of MagnaChip Semiconductor Corporation, valued at $1,084,500 using the latest closing price.

BRIGADE CAPITAL MANAGEMENT, LP, the 10% Owner of MagnaChip Semiconductor Corporation, sale 25,000 shares at $14.28 during a trade that took place back on Nov 04, which means that BRIGADE CAPITAL MANAGEMENT, LP is holding 1,194,806 shares at $357,000 based on the most recent closing price.

Stock Fundamentals for MX

Current profitability levels for the company are sitting at:

  • +6.44 for the present operating margin
  • +25.31 for the gross margin

The net margin for MagnaChip Semiconductor Corporation stands at +11.25. The total capital return value is set at 8.86, while invested capital returns managed to touch 17.58. Equity return is now at value 43.90, with 4.30 for asset returns.

Based on MagnaChip Semiconductor Corporation (MX), the company’s capital structure generated 25.50 points at debt to equity in total, while total debt to capital is 20.32. Total debt to assets is 15.41, with long-term debt to equity ratio resting at 0.70. Finally, the long-term debt to capital ratio is 0.56.

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When we switch over and look at the enterprise to sales, we see a ratio of 0.86, with the company’s debt to enterprise value settled at 0.20. The receivables turnover for the company is 5.29 and the total asset turnover is 0.87. The liquidity ratio also appears to be rather interesting for investors as it stands at 2.36.

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