33,750 Shares in Magnachip Semiconductor Co. (NYSE:MX) Acquired by River Global Investors LLP

River Global Investors LLP purchased a new stake in Magnachip Semiconductor Co. (NYSE:MX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 33,750 shares of the semiconductor company’s stock, valued at approximately $253,000. River Global Investors LLP owned 0.09% of Magnachip Semiconductor at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Magnachip Semiconductor by 36.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,248 shares of the semiconductor company’s stock worth $84,000 after buying an additional 3,024 shares during the last quarter. Orion Portfolio Solutions LLC increased its stake in Magnachip Semiconductor by 5.7% in the third quarter. Orion Portfolio Solutions LLC now owns 77,103 shares of the semiconductor company’s stock valued at $641,000 after acquiring an additional 4,150 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Magnachip Semiconductor during the third quarter valued at about $36,000. Covestor Ltd lifted its stake in Magnachip Semiconductor by 16.4% during the third quarter. Covestor Ltd now owns 44,696 shares of the semiconductor company’s stock worth $371,000 after purchasing an additional 6,307 shares during the last quarter. Finally, CenterBook Partners LP boosted its holdings in shares of Magnachip Semiconductor by 28.5% in the 3rd quarter. CenterBook Partners LP now owns 61,709 shares of the semiconductor company’s stock worth $513,000 after purchasing an additional 13,691 shares in the last quarter. 74.26% of the stock is currently owned by hedge funds and other institutional investors.

Magnachip Semiconductor Stock Performance

NYSE:MX traded up $0.07 during midday trading on Monday, reaching $5.16. 218,239 shares of the stock traded hands, compared to its average volume of 409,916. The stock has a market capitalization of $197.42 million, a P/E ratio of -6.53 and a beta of 0.77. Magnachip Semiconductor Co. has a 12 month low of $4.70 and a 12 month high of $11.68. The company has a fifty day moving average of $5.41 and a 200 day moving average of $6.45.

Magnachip Semiconductor (NYSE:MX) last announced its quarterly earnings results on Wednesday, February 28th. The semiconductor company reported ($0.26) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.08. Magnachip Semiconductor had a negative return on equity of 8.16% and a negative net margin of 13.76%. The company had revenue of $50.82 million for the quarter, compared to the consensus estimate of $52.45 million. During the same quarter in the previous year, the business earned ($0.39) EPS. On average, analysts predict that Magnachip Semiconductor Co. will post -1.4 EPS for the current fiscal year.

Analysts Set New Price Targets

MX has been the subject of a number of recent research reports. StockNews.com upgraded Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Needham & Company LLC lowered their price objective on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a “buy” rating for the company in a report on Friday. Finally, Roth Mkm decreased their target price on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Friday.

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.