First Wilshire Securities Management Inc. Grows Stock Holdings in Magnachip Semiconductor Corp. $MX

First Wilshire Securities Management Inc. boosted its position in Magnachip Semiconductor Corp. (NYSE:MX) by 53.8% in the 4th quarter, Holdings Channel reports. The fund owned 732,857 shares of the semiconductor company’s stock after purchasing an additional 256,211 shares during the period. First Wilshire Securities Management Inc.’s holdings in Magnachip Semiconductor were worth $1,869,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. grew its stake in Magnachip Semiconductor by 4.7% in the 2nd quarter. American Century Companies Inc. now owns 76,312 shares of the semiconductor company’s stock worth $304,000 after acquiring an additional 3,451 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Magnachip Semiconductor by 1.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 315,732 shares of the semiconductor company’s stock valued at $988,000 after buying an additional 5,764 shares during the period. Vanguard Group Inc. grew its stake in shares of Magnachip Semiconductor by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,030,024 shares of the semiconductor company’s stock valued at $3,224,000 after buying an additional 6,519 shares during the period. Engineers Gate Manager LP grew its stake in shares of Magnachip Semiconductor by 15.4% during the 2nd quarter. Engineers Gate Manager LP now owns 59,648 shares of the semiconductor company’s stock valued at $237,000 after buying an additional 7,941 shares during the period. Finally, Algert Global LLC grew its stake in shares of Magnachip Semiconductor by 44.7% during the 3rd quarter. Algert Global LLC now owns 29,455 shares of the semiconductor company’s stock valued at $92,000 after buying an additional 9,100 shares during the period. 74.26% of the stock is owned by hedge funds and other institutional investors.

Magnachip Semiconductor Stock Up 2.2%

Shares of NYSE MX opened at $6.21 on Friday. Magnachip Semiconductor Corp. has a 52-week low of $2.18 and a 52-week high of $9.86. The firm has a fifty day moving average of $4.76 and a 200-day moving average of $3.50. The stock has a market capitalization of $226.40 million, a PE ratio of -8.88 and a beta of 1.51. The company has a quick ratio of 1.91, a current ratio of 2.37 and a debt-to-equity ratio of 0.07.

Magnachip Semiconductor (NYSE:MX) last posted its earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) earnings per share for the quarter, beating the consensus estimate of ($0.22) by $0.11. The business had revenue of $46.21 million for the quarter, compared to analyst estimates of $46.00 million. Magnachip Semiconductor had a negative net margin of 14.14% and a negative return on equity of 4.68%.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. Zacks Research cut shares of Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen raised shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised shares of Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $5.50.

About Magnachip Semiconductor

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.