Magnachip Semiconductor Co. (NYSE:MX) Shares Bought by American Century Companies Inc.

American Century Companies Inc. boosted its stake in shares of Magnachip Semiconductor Co. (NYSE:MX) by 13.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 57,173 shares of the semiconductor company’s stock after acquiring an additional 6,777 shares during the quarter. American Century Companies Inc.’s holdings in Magnachip Semiconductor were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in Magnachip Semiconductor by 177.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 2,994 shares during the period. Founders Capital Management acquired a new stake in Magnachip Semiconductor during the 2nd quarter worth approximately $29,000. Citizens Financial Group Inc. RI acquired a new stake in shares of Magnachip Semiconductor in the 1st quarter valued at approximately $89,000. Quadrature Capital Ltd acquired a new stake in shares of Magnachip Semiconductor in the 4th quarter valued at approximately $167,000. Finally, Quantbot Technologies LP lifted its holdings in shares of Magnachip Semiconductor by 28.8% in the 1st 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. 74.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MX has been the subject of several recent analyst reports. Needham & Company LLC reduced their price target 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, September 26th.

Magnachip Semiconductor Stock Up 1.1 %

MX opened at $4.70 on Friday. Magnachip Semiconductor Co. has a 12 month low of $4.25 and a 12 month high of $8.30. The stock has a market capitalization of $179.86 million, a P/E ratio of -6.01 and a beta of 0.64. The business has a 50 day simple moving average of $4.81 and a 200-day simple moving average of $4.98. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.03 and a quick ratio of 4.34.

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

Magnachip Semiconductor 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.