Insiders Were Right: MX Makes New 52-Week High

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In trading on Monday, shares of MagnaChip Semiconductor Corp (Symbol: MX) touched a new 52-week high of $12.95/share. That's a 146.67% rise, or $7.7 per share from the 52-week low of $5.25 set back on 11/14/2016. That means at today's intraday high, any investor who purchased MX stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, MX has seen 2 different instances of insiders buying over the trailing six month period.

Purchased Insider Title Shares Price/Share Value
08/11/2017 Tavakoli Nader Director 39,100 $10.67 $417,011.00
08/14/2017 Camillo Martino Director 10,000 $10.25 $102,500.00

The chart below shows where MX has traded over the past year, with the 50-day and 200-day moving averages included.

MagnaChip Semiconductor Corp Moving Averages Chart

In afternoon trading on Monday, MX shares are changing hands at $12.93/share, slightly below the new 52-week high.

Ten Bargains You Can Buy Cheaper Than The Insiders Did »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Investing Ideas
Referenced Symbols: MX

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