Hood River Capital Management LLC boosted its position in shares of Magnachip (NYSE:MX) by 1.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,101,916 shares of the semiconductor company’s stock after acquiring an additional 34,730 shares during the period. Hood River Capital Management LLC owned 6.12% of Magnachip worth $20,178,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its position in Magnachip by 64.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 20,574 shares of the semiconductor company’s stock worth $205,000 after acquiring an additional 8,034 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of Magnachip by 3,798.6% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,347 shares of the semiconductor company’s stock valued at $143,000 after buying an additional 13,979 shares during the last quarter. Malaga Cove Capital LLC raised its position in shares of Magnachip by 343.3% during the fourth quarter. Malaga Cove Capital LLC now owns 22,167 shares of the semiconductor company’s stock valued at $221,000 after buying an additional 17,167 shares during the last quarter. Investors Research Corp acquired a new position in shares of Magnachip during the fourth quarter valued at about $237,000. Finally, Ellington Management Group LLC acquired a new position in shares of Magnachip during the fourth quarter valued at about $251,000. 95.95% of the stock is owned by hedge funds and other institutional investors.
NYSE MX opened at $10.60 on Thursday. The firm has a market cap of $360.37 million, a PE ratio of 13.97 and a beta of 0.19. The company has a debt-to-equity ratio of -7.66, a current ratio of 2.39 and a quick ratio of 1.86.
Magnachip (NYSE:MX) last posted its earnings results on Monday, April 30th. The semiconductor company reported $0.04 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.02). The business had revenue of $165.80 million during the quarter, compared to the consensus estimate of $161.00 million. Magnachip had a net margin of 6.43% and a negative return on equity of 51.40%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 EPS. equities analysts expect that Magnachip will post 0.58 EPS for the current year.
A number of research analysts have recently commented on MX shares. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Magnachip in a research report on Wednesday, January 17th. Zacks Investment Research lowered shares of Magnachip from a “hold” rating to a “strong sell” rating in a research report on Tuesday, February 13th. TheStreet raised shares of Magnachip from a “d” rating to a “c” rating in a research note on Wednesday, February 7th. ValuEngine raised shares of Magnachip from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Citigroup lowered their target price on shares of Magnachip from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $12.33.
In other news, Director Randal T. Klein acquired 5,000 shares of the firm’s stock in a transaction on Wednesday, May 2nd. The shares were purchased at an average cost of $10.79 per share, with a total value of $53,950.00. Following the completion of the purchase, the director now owns 10,030 shares of the company’s stock, valued at $108,223.70. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jonathan W. Kim acquired 8,000 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were purchased at an average cost of $9.07 per share, for a total transaction of $72,560.00. Following the completion of the purchase, the insider now directly owns 62,675 shares of the company’s stock, valued at approximately $568,462.25. The disclosure for this purchase can be found here. In the last three months, insiders purchased 25,488 shares of company stock worth $240,271. 3.80% of the stock is currently owned by insiders.
Magnachip Company Profile
MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.
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