Squarepoint Ops LLC Sells 72,411 Shares of Magnachip Semiconductor Co. (NYSE:MX)

Squarepoint Ops LLC cut its holdings in Magnachip Semiconductor Co. (NYSE:MX) by 55.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,351 shares of the semiconductor company’s stock after selling 72,411 shares during the quarter. Squarepoint Ops LLC’s holdings in Magnachip Semiconductor were worth $279,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quadrature Capital Ltd acquired a new position in shares of Magnachip Semiconductor in the 4th quarter valued at $167,000. Allspring Global Investments Holdings LLC lifted its stake in 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. Quantbot Technologies LP lifted its stake in 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. Empowered Funds LLC boosted its holdings in Magnachip Semiconductor by 8.1% during the first quarter. Empowered Funds LLC now owns 190,573 shares of the semiconductor company’s stock worth $1,063,000 after buying an additional 14,350 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Magnachip Semiconductor by 2.8% during the 1st quarter. Vanguard Group Inc. now owns 1,049,496 shares of the semiconductor company’s stock worth $5,856,000 after buying an additional 28,860 shares during the period. Institutional investors and hedge funds own 74.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on MX shares. StockNews.com raised shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Barclays raised shares of Magnachip Semiconductor to a “hold” rating in a research report on Tuesday, September 10th. Finally, Needham & Company LLC lowered their price objective on shares of Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 1st.

Magnachip Semiconductor Price Performance

Shares of MX opened at $4.74 on Friday. The stock has a 50 day simple moving average of $4.76 and a 200 day simple moving average of $4.95. Magnachip Semiconductor Co. has a 52-week low of $4.25 and a 52-week high of $8.16. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.34 and a current ratio of 5.03. The firm has a market capitalization of $181.39 million, a PE ratio of -6.08 and a beta of 0.64.

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