Thompson Siegel & Walmsley LLC cut its position in shares of Magnachip Semiconductor Co. (NYSE:MX – Free Report) by 14.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 699,092 shares of the semiconductor company’s stock after selling 119,642 shares during the quarter. Thompson Siegel & Walmsley LLC owned 1.65% of Magnachip Semiconductor worth $7,816,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of MX. Citigroup Inc. grew its holdings in shares of Magnachip Semiconductor by 95.2% in the 1st quarter. Citigroup Inc. now owns 1,503 shares of the semiconductor company’s stock worth $25,000 after acquiring an additional 733 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Magnachip Semiconductor by 5,430.0% in the 1st quarter. BNP Paribas Arbitrage SA now owns 2,212 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 2,172 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Magnachip Semiconductor in the 4th quarter worth $44,000. Ancora Advisors LLC acquired a new position in shares of Magnachip Semiconductor in the 1st quarter worth $50,000. Finally, PenderFund Capital Management Ltd. grew its holdings in shares of Magnachip Semiconductor by 33.3% in the 1st quarter. PenderFund Capital Management Ltd. now owns 2,800 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 700 shares during the last quarter. 73.53% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on MX. StockNews.com raised Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, November 11th. Needham & Company LLC reaffirmed a “buy” rating and issued a $13.00 target price on shares of Magnachip Semiconductor in a research report on Thursday, August 10th. Roth Mkm decreased their target price on Magnachip Semiconductor from $15.00 to $10.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Finally, TheStreet cut Magnachip Semiconductor from a “c-” rating to a “d+” rating in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.33.
Magnachip Semiconductor Price Performance
MX traded down $0.12 during trading on Friday, reaching $6.74. 141,070 shares of the stock traded hands, compared to its average volume of 228,678. Magnachip Semiconductor Co. has a fifty-two week low of $6.64 and a fifty-two week high of $11.68. The stock’s 50-day simple moving average is $7.67 and its two-hundred day simple moving average is $8.88.
About Magnachip Semiconductor
Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, notebook PCs, monitors and liquid crystal displays, and micro light-emitting diode (LED) televisions.
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