Two Sigma Investments LP decreased its position in Magnachip Semiconductor Corp (NYSE:MX) by 50.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,503 shares of the semiconductor company’s stock after selling 176,800 shares during the period. Two Sigma Investments LP owned approximately 0.49% of Magnachip Semiconductor Corp worth $1,070,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of MX. Renaissance Technologies LLC raised its stake in shares of Magnachip Semiconductor Corp by 713.9% in the fourth quarter. Renaissance Technologies LLC now owns 228,131 shares of the semiconductor company’s stock valued at $1,414,000 after buying an additional 200,100 shares during the period. Allianz Asset Management AG bought a new stake in shares of Magnachip Semiconductor Corp during the fourth quarter valued at approximately $1,792,000. Kavi Asset Management LP raised its stake in shares of Magnachip Semiconductor Corp by 21.1% in the fourth quarter. Kavi Asset Management LP now owns 286,455 shares of the semiconductor company’s stock valued at $1,776,000 after buying an additional 50,000 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Magnachip Semiconductor Corp by 47.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 573,532 shares of the semiconductor company’s stock valued at $3,556,000 after buying an additional 185,625 shares during the period. Finally, Oxford Asset Management raised its stake in shares of Magnachip Semiconductor Corp by 117.0% in the fourth quarter. Oxford Asset Management now owns 350,886 shares of the semiconductor company’s stock valued at $2,175,000 after buying an additional 189,158 shares during the period. Institutional investors own 81.64% of the company’s stock.
Shares of Magnachip Semiconductor Corp (NYSE:MX) traded up 1.21% during trading on Friday, hitting $8.35. 122,258 shares of the company’s stock were exchanged. The stock’s market cap is $277.65 million. Magnachip Semiconductor Corp has a one year low of $4.71 and a one year high of $9.70. The firm has a 50-day moving average price of $8.44 and a 200-day moving average price of $7.47.
Magnachip Semiconductor Corp (NYSE:MX) last released its quarterly earnings data on Thursday, February 9th. The semiconductor company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.07 by $0.03. The business earned $180.50 million during the quarter, compared to analyst estimates of $180 million. Magnachip Semiconductor Corp had a negative return on equity of 44.29% and a negative net margin of 4.30%. The firm’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.15 EPS. Equities research analysts expect that Magnachip Semiconductor Corp will post $0.24 EPS for the current fiscal year.
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Several analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective on shares of Magnachip Semiconductor Corp in a report on Thursday, February 16th. Zacks Investment Research upgraded shares of Magnachip Semiconductor Corp from a “hold” rating to a “strong-buy” rating and set a $9.25 price objective for the company in a report on Tuesday, January 24th.
In other Magnachip Semiconductor Corp news, Director Camillo Martino acquired 8,000 shares of the business’s stock in a transaction dated Wednesday, February 15th. The shares were purchased at an average price of $7.45 per share, for a total transaction of $59,600.00. Following the completion of the purchase, the director now directly owns 16,119 shares of the company’s stock, valued at $120,086.55. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 4.20% of the stock is owned by corporate insiders.
About Magnachip Semiconductor Corp
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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