Potomac Capital Management Inc. Invests $987,000 in Magnachip Semiconductor Corp. $MX

Potomac Capital Management Inc. bought a new position in shares of Magnachip Semiconductor Corp. (NYSE:MX) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 386,900 shares of the semiconductor company’s stock, valued at approximately $987,000. Magnachip Semiconductor comprises 0.8% of Potomac Capital Management Inc.’s investment portfolio, making the stock its 29th largest position. Potomac Capital Management Inc. owned 1.08% of Magnachip Semiconductor at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MX. Lepercq De Neuflize Asset Management LLC bought a new stake in shares of Magnachip Semiconductor during the third quarter worth $3,215,000. Marshall Wace LLP grew its holdings in shares of Magnachip Semiconductor by 70.3% during the second quarter. Marshall Wace LLP now owns 699,525 shares of the semiconductor company’s stock worth $2,784,000 after purchasing an additional 288,664 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Magnachip Semiconductor by 17.0% during the third quarter. Ameriprise Financial Inc. now owns 1,432,843 shares of the semiconductor company’s stock worth $4,485,000 after purchasing an additional 208,417 shares during the last quarter. Orion Porfolio Solutions LLC grew its holdings in shares of Magnachip Semiconductor by 94.6% during the second quarter. Orion Porfolio Solutions LLC now owns 321,879 shares of the semiconductor company’s stock worth $1,281,000 after purchasing an additional 156,507 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Magnachip Semiconductor by 78.4% during the second quarter. Arrowstreet Capital Limited Partnership now owns 271,381 shares of the semiconductor company’s stock worth $1,080,000 after purchasing an additional 119,269 shares during the last quarter. Institutional investors own 74.26% of the company’s stock.

Magnachip Semiconductor Trading Down 8.4%

Shares of MX opened at $6.31 on Wednesday. The company has a quick ratio of 1.91, a current ratio of 2.37 and a debt-to-equity ratio of 0.07. Magnachip Semiconductor Corp. has a 12-month low of $2.18 and a 12-month high of $9.86. The firm has a market capitalization of $229.90 million, a PE ratio of -9.01 and a beta of 1.51. The stock’s fifty day simple moving average is $4.63 and its 200-day simple moving average is $3.45.

Magnachip Semiconductor (NYSE:MX) last issued its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.11. Magnachip Semiconductor had a negative return on equity of 4.68% and a negative net margin of 14.14%.The business had revenue of $46.21 million for the quarter, compared to analyst estimates of $46.00 million.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Wall Street Zen upgraded Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research cut Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Finally, Weiss Ratings upgraded Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $5.50.

About Magnachip Semiconductor

Magnachip Semiconductor Inc is a fabless semiconductor company specializing in high-performance analog and mixed-signal solutions for the display, power management and lighting markets. Its core product portfolio includes display driver ICs for LCD and OLED panels, high-voltage MOSFETs, DC-DC converters, LED driver ICs and power management devices used in consumer electronics, mobile devices, industrial equipment and automotive applications.

Founded in 2004 as a spin-off from MagnaChip, Magnachip is incorporated in the United States with design and sales offices strategically located across North America, Europe and Asia.