Eurizon Capital SGR S.p.A. purchased a new stake in Magnachip Semiconductor Corp. (NYSE:MX – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 68,175 shares of the semiconductor company’s stock, valued at approximately $178,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ameriprise Financial Inc. boosted its position in shares of Magnachip Semiconductor by 17.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,432,843 shares of the semiconductor company’s stock valued at $4,485,000 after purchasing an additional 208,417 shares during the period. Vanguard Group Inc. boosted its position in shares of Magnachip Semiconductor by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,030,024 shares of the semiconductor company’s stock valued at $3,224,000 after purchasing an additional 6,519 shares during the period. Lepercq De Neuflize Asset Management LLC acquired a new position in shares of Magnachip Semiconductor in the 3rd quarter valued at $3,215,000. Marshall Wace LLP lifted its stake in Magnachip Semiconductor by 70.3% in the 2nd quarter. Marshall Wace LLP now owns 699,525 shares of the semiconductor company’s stock worth $2,784,000 after acquiring an additional 288,664 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in Magnachip Semiconductor by 11.9% in the 3rd quarter. Bridgeway Capital Management LLC now owns 488,895 shares of the semiconductor company’s stock worth $1,530,000 after acquiring an additional 52,000 shares in the last quarter. Institutional investors and hedge funds own 74.26% of the company’s stock.
Magnachip Semiconductor Stock Down 4.2%
Shares of Magnachip Semiconductor stock opened at $8.56 on Friday. The stock has a 50-day moving average price of $4.40 and a 200 day moving average price of $3.35. The company has a market cap of $311.74 million, a P/E ratio of -12.22 and a beta of 1.51. The company has a current ratio of 2.37, a quick ratio of 1.91 and a debt-to-equity ratio of 0.07. Magnachip Semiconductor Corp. has a 1 year low of $2.18 and a 1 year high of $9.86.
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on MX shares. Weiss Ratings raised Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Wall Street Zen raised Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research downgraded Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $5.50.
View Our Latest Stock Analysis on Magnachip Semiconductor
Magnachip Semiconductor Company Profile
Magnachip Semiconductor Inc is a fabless semiconductor company specializing in high-performance analog and mixed-signal solutions for the display, power management and lighting markets. Its core product portfolio includes display driver ICs for LCD and OLED panels, high-voltage MOSFETs, DC-DC converters, LED driver ICs and power management devices used in consumer electronics, mobile devices, industrial equipment and automotive applications.
Founded in 2004 as a spin-off from MagnaChip, Magnachip is incorporated in the United States with design and sales offices strategically located across North America, Europe and Asia.
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