Proxima Capital Management LLC Has $4.85 Million Stake in MagnaChip Semiconductor Corporation (MX)

Proxima Capital Management LLC raised its holdings in shares of MagnaChip Semiconductor Corporation (NYSE:MX) by 26.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 494,601 shares of the semiconductor company’s stock after acquiring an additional 104,331 shares during the quarter. MagnaChip Semiconductor Corporation makes up 2.6% of Proxima Capital Management LLC’s portfolio, making the stock its 15th largest holding. Proxima Capital Management LLC owned 1.45% of MagnaChip Semiconductor Corporation worth $4,847,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Menta Capital LLC boosted its stake in shares of MagnaChip Semiconductor Corporation by 97.6% during the 2nd quarter. Menta Capital LLC now owns 110,696 shares of the semiconductor company’s stock worth $1,085,000 after acquiring an additional 54,679 shares during the last quarter. Columbus Circle Investors boosted its stake in shares of MagnaChip Semiconductor Corporation by 46.1% during the 2nd quarter. Columbus Circle Investors now owns 137,708 shares of the semiconductor company’s stock worth $1,350,000 after acquiring an additional 43,445 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of MagnaChip Semiconductor Corporation by 6.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 607,785 shares of the semiconductor company’s stock worth $5,804,000 after acquiring an additional 34,253 shares during the last quarter. Rubric Capital Management LP boosted its stake in shares of MagnaChip Semiconductor Corporation by 13.2% during the 2nd quarter. Rubric Capital Management LP now owns 1,925,000 shares of the semiconductor company’s stock worth $18,865,000 after acquiring an additional 225,000 shares during the last quarter. Finally, Hood River Capital Management LLC boosted its stake in shares of MagnaChip Semiconductor Corporation by 24.0% during the 2nd quarter. Hood River Capital Management LLC now owns 1,570,550 shares of the semiconductor company’s stock worth $15,391,000 after acquiring an additional 303,818 shares during the last quarter. Institutional investors and hedge funds own 93.50% of the company’s stock.

MagnaChip Semiconductor Corporation (MX) traded down 1.35% on Friday, hitting $11.00. 59,167 shares of the company were exchanged. The firm’s 50 day moving average is $11.33 and its 200 day moving average is $10.08. The company has a market capitalization of $374.40 million, a P/E ratio of 24.02 and a beta of -0.33. MagnaChip Semiconductor Corporation has a 52 week low of $5.20 and a 52 week high of $12.75.

MagnaChip Semiconductor Corporation (NYSE:MX) last posted its quarterly earnings data on Thursday, August 3rd. The semiconductor company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.17. The company had revenue of $166.70 million for the quarter, compared to analysts’ expectations of $165.00 million. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) earnings per share. On average, equities research analysts forecast that MagnaChip Semiconductor Corporation will post $0.78 earnings per share for the current fiscal year.

In related news, Director Tavakoli Nader acquired 39,100 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were acquired at an average cost of $10.67 per share, with a total value of $417,197.00. Following the completion of the acquisition, the director now directly owns 67,686 shares in the company, valued at approximately $722,209.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Camillo Martino acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 14th. The shares were bought at an average cost of $10.25 per share, for a total transaction of $102,500.00. Following the completion of the acquisition, the director now owns 31,916 shares of the company’s stock, valued at $327,139. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company’s stock.

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Several research analysts have recently weighed in on MX shares. BidaskClub upgraded shares of MagnaChip Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Needham & Company LLC restated a “buy” rating and set a $15.00 target price (up previously from $13.00) on shares of MagnaChip Semiconductor Corporation in a research note on Friday, August 4th. Zacks Investment Research cut shares of MagnaChip Semiconductor Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Citigroup Inc. lifted their target price on shares of MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the company a “neutral” rating in a research note on Monday, August 7th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $13.00.

MagnaChip Semiconductor Corporation Profile

MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.

Institutional Ownership by Quarter for MagnaChip Semiconductor Corporation (NYSE:MX)

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