Worth Venture Partners LLC boosted its holdings in shares of Magnachip Semiconductor Corp (NYSE:MX) by 65.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,000 shares of the semiconductor company’s stock after purchasing an additional 45,950 shares during the period. Magnachip Semiconductor comprises approximately 0.7% of Worth Venture Partners LLC’s holdings, making the stock its 23rd largest holding. Worth Venture Partners LLC owned about 0.34% of Magnachip Semiconductor worth $1,201,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in MX. BlackRock Inc. purchased a new position in shares of Magnachip Semiconductor during the 2nd quarter worth approximately $219,000. Acadian Asset Management LLC purchased a new position in shares of Magnachip Semiconductor during the 2nd quarter worth approximately $367,000. RMB Capital Management LLC purchased a new position in shares of Magnachip Semiconductor during the 2nd quarter worth approximately $424,000. IndexIQ Advisors LLC purchased a new position in shares of Magnachip Semiconductor during the 1st quarter worth approximately $548,000. Finally, Marshall Wace North America L.P. purchased a new position in shares of Magnachip Semiconductor during the 2nd quarter worth approximately $802,000. Institutional investors own 88.71% of the company’s stock.
Shares of MX stock traded up $0.03 during midday trading on Thursday, reaching $10.84. 7,433 shares of the stock were exchanged, compared to its average volume of 166,060. The firm has a market cap of $383.22 million, a PE ratio of 15.38 and a beta of 0.94. The company’s 50 day moving average is $10.63 and its two-hundred day moving average is $9.44. Magnachip Semiconductor Corp has a 1 year low of $5.75 and a 1 year high of $12.00.
Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported $0.08 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.17. The company had revenue of $205.15 million for the quarter, compared to the consensus estimate of $194.00 million. Magnachip Semiconductor had a negative return on equity of 20.36% and a negative net margin of 3.85%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. As a group, research analysts forecast that Magnachip Semiconductor Corp will post -0.29 earnings per share for the current fiscal year.
A number of research firms have weighed in on MX. Citigroup set a $11.00 target price on Magnachip Semiconductor and gave the stock a “hold” rating in a report on Wednesday, July 31st. ValuEngine upgraded Magnachip Semiconductor from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 4th. Zacks Investment Research downgraded Magnachip Semiconductor from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Finally, Roth Capital set a $17.00 target price on Magnachip Semiconductor and gave the stock a “buy” rating in a report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $12.25.
In related news, major shareholder Brigade Capital Management, Lp sold 4,011 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $11.20, for a total value of $44,923.20. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.50% of the company’s stock.
Magnachip Semiconductor Profile
MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.
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