Kennedy Capital Management LLC Sells 24,965 Shares of Magnachip Semiconductor Co. (NYSE:MX)

Kennedy Capital Management LLC lowered its stake in Magnachip Semiconductor Co. (NYSE:MX) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 378,417 shares of the semiconductor company’s stock after selling 24,965 shares during the quarter. Kennedy Capital Management LLC owned approximately 0.99% of Magnachip Semiconductor worth $2,112,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Magnachip Semiconductor by 177.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 2,994 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Magnachip Semiconductor by 36.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,248 shares of the semiconductor company’s stock valued at $84,000 after buying an additional 3,024 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Magnachip Semiconductor by 808.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,496 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 3,111 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in Magnachip Semiconductor by 4.4% in the 4th quarter. BNP Paribas Financial Markets now owns 196,838 shares of the semiconductor company’s stock valued at $1,476,000 after buying an additional 8,266 shares during the last quarter. Finally, Quantbot Technologies LP raised its holdings in Magnachip Semiconductor by 28.8% in the 1st quarter. Quantbot Technologies LP now owns 43,326 shares of the semiconductor company’s stock valued at $242,000 after buying an additional 9,686 shares during the last quarter. Institutional investors own 74.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Roth Mkm dropped their price objective on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 3rd. Needham & Company LLC dropped their price objective on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday, May 3rd.

Magnachip Semiconductor Trading Up 2.2 %

Magnachip Semiconductor stock traded up $0.11 during mid-day trading on Wednesday, hitting $5.03. 106,305 shares of the stock were exchanged, compared to its average volume of 318,256. The company has a quick ratio of 5.05, a current ratio of 5.75 and a debt-to-equity ratio of 0.09. Magnachip Semiconductor Co. has a 12 month low of $4.70 and a 12 month high of $9.51. The firm’s fifty day simple moving average is $4.95 and its two-hundred day simple moving average is $5.48.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.30) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.38) by $0.08. Magnachip Semiconductor had a negative net margin of 13.76% and a negative return on equity of 8.35%. The firm had revenue of $49.07 million during the quarter, compared to analyst estimates of $48.85 million. As a group, equities analysts predict that Magnachip Semiconductor Co. will post -1.29 earnings per share for the current year.

Magnachip Semiconductor Profile

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, 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, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.