Empowered Funds LLC Has $498,000 Position in Magnachip Semiconductor Co. (NYSE:MX)

Empowered Funds LLC cut its position in shares of Magnachip Semiconductor Co. (NYSE:MX) by 15.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 106,709 shares of the semiconductor company’s stock after selling 19,240 shares during the period. Empowered Funds LLC’s holdings in Magnachip Semiconductor were worth $498,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Algert Global LLC lifted its stake in shares of Magnachip Semiconductor by 15.0% during the 2nd quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock worth $92,000 after buying an additional 2,470 shares during the last quarter. Clearline Capital LP raised its holdings in Magnachip Semiconductor by 37.5% in the 2nd quarter. Clearline Capital LP now owns 1,683,676 shares of the semiconductor company’s stock valued at $8,200,000 after acquiring an additional 459,365 shares during the period. Millennium Management LLC raised its holdings in Magnachip Semiconductor by 9.7% in the 2nd quarter. Millennium Management LLC now owns 562,094 shares of the semiconductor company’s stock valued at $2,737,000 after acquiring an additional 49,670 shares during the period. Bank of Montreal Can acquired a new stake in Magnachip Semiconductor during the second quarter worth approximately $518,000. Finally, American Century Companies Inc. boosted its holdings in shares of Magnachip Semiconductor by 13.4% during the second quarter. American Century Companies Inc. now owns 57,173 shares of the semiconductor company’s stock worth $278,000 after acquiring an additional 6,777 shares during the period. 74.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MX. Needham & Company LLC dropped their target price on Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Barclays upgraded shares of Magnachip Semiconductor to a “hold” rating in a research report on Tuesday, September 10th. Finally, StockNews.com downgraded Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st.

Magnachip Semiconductor Trading Up 5.2 %

Shares of MX stock opened at $3.86 on Monday. Magnachip Semiconductor Co. has a fifty-two week low of $3.56 and a fifty-two week high of $8.16. The stock’s fifty day moving average price is $4.41 and its two-hundred day moving average price is $4.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.09 and a current ratio of 4.81. The company has a market cap of $143.59 million, a PE ratio of -3.33 and a beta of 0.63.

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.