North Run Capital LP cut its holdings in Magnachip Semiconductor Corp (NYSE:MX) by 8.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,130,000 shares of the semiconductor company’s stock after selling 106,229 shares during the quarter. Magnachip Semiconductor makes up about 6.9% of North Run Capital LP’s holdings, making the stock its 6th largest holding. North Run Capital LP’s holdings in Magnachip Semiconductor were worth $11,244,000 as of its most recent filing with the SEC.
A number of other large investors have also recently added to or reduced their stakes in the business. Citadel Advisors LLC boosted its position in Magnachip Semiconductor by 372.6% during the 4th quarter. Citadel Advisors LLC now owns 73,084 shares of the semiconductor company’s stock worth $727,000 after acquiring an additional 57,619 shares during the last quarter. Royce & Associates LP boosted its position in Magnachip Semiconductor by 66.7% during the 4th quarter. Royce & Associates LP now owns 470,000 shares of the semiconductor company’s stock worth $4,677,000 after acquiring an additional 188,000 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Magnachip Semiconductor by 3,798.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,347 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 13,979 shares during the last quarter. BlackRock Inc. boosted its position in Magnachip Semiconductor by 6.6% during the 4th quarter. BlackRock Inc. now owns 777,472 shares of the semiconductor company’s stock worth $7,736,000 after acquiring an additional 47,800 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in Magnachip Semiconductor during the 4th quarter worth approximately $6,180,000. 95.02% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Melvin L. Keating acquired 3,600 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were bought at an average price of $9.01 per share, for a total transaction of $32,436.00. Following the purchase, the director now directly owns 24,016 shares in the company, valued at approximately $216,384.16. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Young-Joon Kim acquired 8,888 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were bought at an average price of $9.15 per share, for a total transaction of $81,325.20. Following the purchase, the chief executive officer now owns 67,963 shares in the company, valued at $621,861.45. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 20,488 shares of company stock worth $186,321. Company insiders own 3.80% of the company’s stock.
Magnachip Semiconductor (NYSE:MX) last announced its quarterly earnings data on Tuesday, February 6th. The semiconductor company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.01). Magnachip Semiconductor had a negative return on equity of 40.94% and a net margin of 12.50%. The company had revenue of $174.58 million for the quarter, compared to the consensus estimate of $174.00 million. During the same quarter in the prior year, the company earned $0.04 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. research analysts forecast that Magnachip Semiconductor Corp will post 0.75 earnings per share for the current year.
A number of research firms have weighed in on MX. Zacks Investment Research downgraded Magnachip Semiconductor from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 13th. TheStreet raised Magnachip Semiconductor from a “d” rating to a “c” rating in a research report on Wednesday, February 7th. ValuEngine upgraded Magnachip Semiconductor from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $15.00 price objective on shares of Magnachip Semiconductor in a research note on Wednesday, January 17th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $12.67.
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About Magnachip Semiconductor
MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.
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