Magnachip Semiconductor Co. (NYSE:MX) Stock Position Lessened by Systematic Financial Management LP

Systematic Financial Management LP decreased its holdings in Magnachip Semiconductor Co. (NYSE:MX) by 2.2% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,115,256 shares of the semiconductor company’s stock after selling 47,585 shares during the quarter. Systematic Financial Management LP owned approximately 0.06% of Magnachip Semiconductor worth $10,301,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Algert Global LLC lifted its holdings in shares of Magnachip Semiconductor by 15.0% in the second quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock valued at $92,000 after buying an additional 2,470 shares during the period. 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 acquired a new stake in shares of Magnachip Semiconductor in the second quarter valued at $29,000. American Century Companies Inc. lifted its holdings in shares of Magnachip Semiconductor by 13.4% in the second quarter. American Century Companies Inc. now owns 57,173 shares of the semiconductor company’s stock valued at $278,000 after buying an additional 6,777 shares during the period. Finally, Quantbot Technologies LP lifted its holdings 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 valued at $242,000 after buying an additional 9,686 shares during the period. Institutional investors own 74.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MX. Needham & Company LLC cut their price objective 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 raised Magnachip Semiconductor to a “hold” rating in a report on Tuesday, September 10th. Finally, StockNews.com raised Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Thursday.

Magnachip Semiconductor Trading Down 0.2 %

Shares of NYSE MX opened at $4.70 on Monday. Magnachip Semiconductor Co. has a 12 month low of $4.25 and a 12 month high of $8.50. The company has a market cap of $179.86 million, a price-to-earnings ratio of -6.03 and a beta of 0.64. 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 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 earnings results on Wednesday, July 31st. The semiconductor company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.37) by $0.13. The business had revenue of $53.17 million during the quarter, compared to the consensus estimate of $51.45 million. Magnachip Semiconductor had a negative return on equity of 10.29% and a negative net margin of 18.49%. Sell-side analysts predict that Magnachip Semiconductor Co. will post -1.13 EPS for the current year.

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, 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.