Algert Global LLC Has $92,000 Holdings in Magnachip Semiconductor Co. (NYSE:MX)

Algert Global LLC boosted its holdings in Magnachip Semiconductor Co. (NYSE:MX) by 15.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,944 shares of the semiconductor company’s stock after purchasing an additional 2,470 shares during the quarter. Algert Global LLC’s holdings in Magnachip Semiconductor were worth $92,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake 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 stake in shares of Magnachip Semiconductor during the 2nd quarter valued at $29,000. American Century Companies Inc. grew its holdings in shares of Magnachip Semiconductor by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 57,173 shares of the semiconductor company’s stock worth $278,000 after purchasing an additional 6,777 shares in the last quarter. Quantbot Technologies LP increased its position in shares of Magnachip Semiconductor by 28.8% in the first quarter. Quantbot Technologies LP now owns 43,326 shares of the semiconductor company’s stock worth $242,000 after purchasing an additional 9,686 shares during the period. Finally, Empowered Funds LLC raised its stake in Magnachip Semiconductor by 8.1% in the first quarter. Empowered Funds LLC now owns 190,573 shares of the semiconductor company’s stock valued at $1,063,000 after purchasing an additional 14,350 shares in the last quarter. Institutional investors own 74.26% of the company’s stock.

Wall Street Analyst Weigh In

MX has been the topic of a number of analyst reports. Needham & Company LLC reduced their price objective on shares of Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. StockNews.com raised shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Finally, Barclays upgraded Magnachip Semiconductor to a “hold” rating in a research note on Tuesday, September 10th.

Magnachip Semiconductor Stock Down 1.2 %

MX stock opened at $4.74 on Friday. The stock has a market capitalization of $181.39 million, a P/E ratio of -6.08 and a beta of 0.64. The company has a current ratio of 5.03, a quick ratio of 4.34 and a debt-to-equity ratio of 0.09. The firm has a 50-day moving average price of $4.76 and a 200-day moving average price of $4.95. Magnachip Semiconductor Co. has a 12 month low of $4.25 and a 12 month high of $8.16.

Magnachip Semiconductor (NYSE:MX) last issued its earnings results on Wednesday, July 31st. The semiconductor company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.37) by $0.13. The firm had revenue of $53.17 million for the quarter, compared to analyst estimates of $51.45 million. Magnachip Semiconductor had a negative net margin of 18.49% and a negative return on equity of 10.29%. As a group, equities research 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.