Algert Global LLC Has $1.39 Million Holdings in Magnachip Semiconductor Corp (MX)

Algert Global LLC raised its stake in shares of Magnachip Semiconductor Corp (NYSE:MX) by 582.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 140,617 shares of the semiconductor company’s stock after purchasing an additional 120,009 shares during the period. Algert Global LLC’s holdings in Magnachip Semiconductor were worth $1,392,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its holdings in Magnachip Semiconductor by 1,015.1% during the third quarter. Tower Research Capital LLC TRC now owns 11,508 shares of the semiconductor company’s stock valued at $114,000 after purchasing an additional 10,476 shares during the last quarter. Trexquant Investment LP acquired a new position in Magnachip Semiconductor during the third quarter valued at approximately $125,000. Engineers Gate Manager LP acquired a new position in Magnachip Semiconductor during the third quarter valued at approximately $206,000. Paloma Partners Management Co acquired a new position in Magnachip Semiconductor during the second quarter valued at approximately $277,000. Finally, Sensato Investors LLC acquired a new position in Magnachip Semiconductor during the second quarter valued at approximately $393,000. Institutional investors own 89.66% of the company’s stock.

MX opened at $6.39 on Friday. Magnachip Semiconductor Corp has a 1-year low of $6.15 and a 1-year high of $13.35. The company has a market capitalization of $237.16 million, a PE ratio of 8.40 and a beta of 0.44.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.06. Magnachip Semiconductor had a negative return on equity of 108.44% and a net margin of 5.65%. The company had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $205.00 million. During the same period in the prior year, the business earned $0.28 earnings per share. Magnachip Semiconductor’s revenue for the quarter was up 16.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Magnachip Semiconductor Corp will post 0.44 EPS for the current fiscal year.

Several equities analysts have commented on MX shares. Roth Capital lowered their price target on Magnachip Semiconductor from $18.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday, October 23rd. ValuEngine cut Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Citigroup reduced their price objective on Magnachip Semiconductor from $12.00 to $9.40 and set a “neutral” rating for the company in a research report on Thursday, November 1st. Finally, Zacks Investment Research raised Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $12.47.

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Magnachip Semiconductor 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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Institutional Ownership by Quarter for Magnachip Semiconductor (NYSE:MX)

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