FourWorld Capital Management LLC Raises Holdings in Magnachip Semiconductor Corp. $MX

FourWorld Capital Management LLC increased its stake in Magnachip Semiconductor Corp. (NYSE:MXFree Report) by 667.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,657,701 shares of the semiconductor company’s stock after purchasing an additional 1,441,593 shares during the quarter. Magnachip Semiconductor comprises about 2.4% of FourWorld Capital Management LLC’s portfolio, making the stock its 7th biggest holding. FourWorld Capital Management LLC owned 4.55% of Magnachip Semiconductor worth $4,642,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. American Century Companies Inc. raised its position in shares of Magnachip Semiconductor by 4.7% during the 2nd quarter. American Century Companies Inc. now owns 76,312 shares of the semiconductor company’s stock worth $304,000 after buying an additional 3,451 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of Magnachip Semiconductor by 1.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 315,732 shares of the semiconductor company’s stock worth $988,000 after acquiring an additional 5,764 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Magnachip Semiconductor by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,030,024 shares of the semiconductor company’s stock valued at $3,224,000 after acquiring an additional 6,519 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Magnachip Semiconductor by 15.4% in the second quarter. Engineers Gate Manager LP now owns 59,648 shares of the semiconductor company’s stock valued at $237,000 after acquiring an additional 7,941 shares in the last quarter. Finally, Quadrature Capital Ltd increased its stake in shares of Magnachip Semiconductor by 57.0% during the fourth quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company’s stock valued at $62,000 after acquiring an additional 8,863 shares during the period. Institutional investors own 74.26% of the company’s stock.

Analyst Upgrades and Downgrades

MX has been the topic of several recent analyst reports. Wall Street Zen raised Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Finally, Weiss Ratings upgraded Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.50.

Check Out Our Latest Analysis on MX

Magnachip Semiconductor Stock Performance

NYSE:MX opened at $3.50 on Monday. Magnachip Semiconductor Corp. has a twelve month low of $2.18 and a twelve month high of $9.86. The company has a current ratio of 2.37, a quick ratio of 1.91 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average of $5.26 and a 200-day moving average of $3.88. The firm has a market cap of $127.36 million, a price-to-earnings ratio of -4.99 and a beta of 1.59.

Magnachip Semiconductor (NYSE:MXGet Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.11. Magnachip Semiconductor had a negative net margin of 14.14% and a negative return on equity of 4.68%. The company had revenue of $46.21 million for the quarter, compared to analysts’ expectations of $46.00 million.

Magnachip Semiconductor Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Magnachip Semiconductor (NYSE:MX)

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