Clearline Capital LP Sells 439,140 Shares of Magnachip Semiconductor Corp. $MX

Clearline Capital LP reduced its position in Magnachip Semiconductor Corp. (NYSE:MX) by 23.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,461,036 shares of the semiconductor company’s stock after selling 439,140 shares during the quarter. Clearline Capital LP owned about 4.06% of Magnachip Semiconductor worth $3,726,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in Magnachip Semiconductor by 4.7% in the 2nd quarter. American Century Companies Inc. now owns 76,312 shares of the semiconductor company’s stock valued at $304,000 after buying an additional 3,451 shares during the period. BNP Paribas Financial Markets increased its holdings in Magnachip Semiconductor by 1.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 315,732 shares of the semiconductor company’s stock valued at $988,000 after buying an additional 5,764 shares during the period. Vanguard Group Inc. increased its holdings in Magnachip Semiconductor by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,030,024 shares of the semiconductor company’s stock valued at $3,224,000 after buying an additional 6,519 shares during the period. Engineers Gate Manager LP increased its holdings in Magnachip Semiconductor by 15.4% in the 2nd quarter. Engineers Gate Manager LP now owns 59,648 shares of the semiconductor company’s stock valued at $237,000 after buying an additional 7,941 shares during the period. Finally, Algert Global LLC increased its holdings in Magnachip Semiconductor by 44.7% in the 3rd quarter. Algert Global LLC now owns 29,455 shares of the semiconductor company’s stock valued at $92,000 after buying an additional 9,100 shares during the period. 74.26% of the stock is owned by institutional investors.

Magnachip Semiconductor Stock Performance

NYSE:MX opened at $5.29 on Thursday. The stock has a market cap of $192.80 million, a P/E ratio of -7.56 and a beta of 1.51. The company has a current ratio of 2.37, a quick ratio of 1.91 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average is $5.00 and its 200-day moving average is $3.59. Magnachip Semiconductor Corp. has a 1-year low of $2.18 and a 1-year high of $9.86.

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wall Street Zen raised shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Zacks Research lowered shares of 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 research report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Magnachip Semiconductor currently has a consensus rating of “Hold” and a consensus price target of $5.50.

Magnachip Semiconductor Profile

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.