Magnachip Semiconductor Co. (NYSE:MX) Shares Acquired by Clearline Capital LP

Clearline Capital LP raised its stake in shares of Magnachip Semiconductor Co. (NYSE:MX) by 37.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,683,676 shares of the semiconductor company’s stock after buying an additional 459,365 shares during the period. Clearline Capital LP owned approximately 4.40% of Magnachip Semiconductor worth $8,200,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Magnachip Semiconductor by 177.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 2,994 shares during the period. Founders Capital Management bought a new position in shares of Magnachip Semiconductor during the 2nd quarter valued at about $29,000. Citizens Financial Group Inc. RI bought a new position in shares of Magnachip Semiconductor during the 1st quarter valued at about $89,000. Quadrature Capital Ltd acquired a new position in shares of Magnachip Semiconductor in the 4th quarter worth approximately $167,000. Finally, Aristides Capital LLC bought a new stake in shares of Magnachip Semiconductor in the 4th quarter worth approximately $177,000. 74.26% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MX. StockNews.com upgraded shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Thursday. Barclays raised Magnachip Semiconductor to a “hold” rating in a research note on Tuesday, September 10th. Finally, Needham & Company LLC cut their target price on Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st.

Magnachip Semiconductor Stock Performance

Shares of Magnachip Semiconductor stock opened at $4.70 on Friday. Magnachip Semiconductor Co. has a 12 month low of $4.25 and a 12 month high of $8.50. The company has a quick ratio of 4.34, a current ratio of 5.03 and a debt-to-equity ratio of 0.09. The stock has a market cap of $179.86 million, a PE ratio of -6.03 and a beta of 0.64. The business has a fifty day simple moving average of $4.83 and a 200-day simple moving average of $5.00.

Magnachip Semiconductor (NYSE:MX) last announced its quarterly earnings data on Wednesday, July 31st. The semiconductor company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.37) by $0.13. The firm had revenue of $53.17 million during the quarter, compared to analyst estimates of $51.45 million. Magnachip Semiconductor had a negative return on equity of 10.29% and a negative net margin of 18.49%. On average, sell-side analysts anticipate that Magnachip Semiconductor Co. will post -1.13 EPS for the current fiscal year.

Magnachip Semiconductor Company Profile

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, computing, 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, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.