37,000 Shares in Magnachip Semiconductor Co. (NYSE:MX) Bought by Ionic Capital Management LLC

Ionic Capital Management LLC bought a new position in Magnachip Semiconductor Co. (NYSE:MX) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 37,000 shares of the semiconductor company’s stock, valued at approximately $921,000.

A number of other institutional investors also recently made changes to their positions in the stock. Oaktree Capital Management LP raised its holdings in Magnachip Semiconductor by 9.4% in the 4th quarter. Oaktree Capital Management LP now owns 3,214,537 shares of the semiconductor company’s stock worth $43,460,000 after purchasing an additional 275,000 shares during the period. Morgan Stanley increased its stake in Magnachip Semiconductor by 0.4% in the 1st quarter. Morgan Stanley now owns 2,594,531 shares of the semiconductor company’s stock worth $64,604,000 after buying an additional 9,341 shares in the last quarter. Wasatch Advisors Inc. increased its stake in Magnachip Semiconductor by 178.0% in the 1st quarter. Wasatch Advisors Inc. now owns 1,575,384 shares of the semiconductor company’s stock worth $39,227,000 after buying an additional 1,008,606 shares in the last quarter. Greenhouse Funds LLLP increased its stake in Magnachip Semiconductor by 2.7% in the 4th quarter. Greenhouse Funds LLLP now owns 1,539,671 shares of the semiconductor company’s stock worth $20,816,000 after buying an additional 40,000 shares in the last quarter. Finally, Alliancebernstein L.P. increased its stake in Magnachip Semiconductor by 6.8% in the 1st quarter. Alliancebernstein L.P. now owns 1,501,073 shares of the semiconductor company’s stock worth $37,377,000 after buying an additional 95,109 shares in the last quarter. 83.77% of the stock is currently owned by institutional investors.

MX has been the subject of a number of analyst reports. TheStreet lowered Magnachip Semiconductor from a “b-” rating to a “c” rating in a research note on Monday, May 10th. Tudor Pickering reiterated a “hold” rating on shares of Magnachip Semiconductor in a research note on Friday, March 26th. Zacks Investment Research lowered Magnachip Semiconductor from a “buy” rating to a “hold” rating in a research note on Wednesday, July 14th. Finally, Vertical Research lowered Magnachip Semiconductor from a “buy” rating to a “neutral” rating in a research note on Tuesday, March 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $26.40.

MX traded down $0.30 on Thursday, hitting $22.60. The company had a trading volume of 2,488 shares, compared to its average volume of 321,732. The firm has a market cap of $1.05 billion, a P/E ratio of 26.90, a PEG ratio of 1.13 and a beta of 1.03. Magnachip Semiconductor Co. has a 12-month low of $10.35 and a 12-month high of $26.98. The company’s fifty day moving average is $23.68.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings results on Sunday, May 9th. The semiconductor company reported $0.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.09. The company had revenue of $123.00 million during the quarter, compared to analyst estimates of $121.53 million. Magnachip Semiconductor had a return on equity of 12.69% and a net margin of 70.89%. The firm’s revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.03 earnings per share. As a group, equities research analysts expect that Magnachip Semiconductor Co. will post 0.72 EPS for the current fiscal year.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotives, entertainment devices, notebook PCs, monitors and liquid crystal displays, organic light emitting diodes, and micro light emitting diode (LED) televisions.

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

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