Magnachip Semiconductor Corp (NYSE:MX) Shares Bought by Malaga Cove Capital LLC

Malaga Cove Capital LLC grew its stake in shares of Magnachip Semiconductor Corp (NYSE:MX) by 343.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,167 shares of the semiconductor company’s stock after purchasing an additional 17,167 shares during the period. Malaga Cove Capital LLC owned approximately 0.06% of Magnachip Semiconductor worth $221,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Northern Trust Corp purchased a new position in Magnachip Semiconductor in the second quarter worth about $111,000. Goldman Sachs Group Inc. purchased a new position in Magnachip Semiconductor in the second quarter worth about $148,000. Citadel Advisors LLC raised its holdings in Magnachip Semiconductor by 66.9% in the third quarter. Citadel Advisors LLC now owns 15,465 shares of the semiconductor company’s stock worth $176,000 after buying an additional 6,197 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA purchased a new position in Magnachip Semiconductor in the third quarter worth about $193,000. Finally, Fox Run Management L.L.C. purchased a new position in Magnachip Semiconductor in the fourth quarter worth about $335,000. 90.32% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director Melvin L. Keating bought 3,600 shares of Magnachip Semiconductor stock in a transaction dated Tuesday, February 13th. The shares were acquired at an average price of $9.01 per share, with a total value of $32,436.00. Following the completion of the purchase, the director now owns 24,016 shares in the company, valued at approximately $216,384.16. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Young-Joon Kim bought 8,888 shares of Magnachip Semiconductor stock in a transaction dated Monday, February 12th. The stock was purchased at an average cost of $9.15 per share, for a total transaction of $81,325.20. Following the purchase, the chief executive officer now owns 67,963 shares of the company’s stock, valued at approximately $621,861.45. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 20,488 shares of company stock worth $186,321. 3.80% of the stock is owned by insiders.

Several research analysts have recently weighed in on MX shares. ValuEngine raised shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Magnachip Semiconductor in a report on Wednesday, January 17th. Zacks Investment Research raised shares of Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Tuesday, November 7th. Finally, TheStreet raised shares of Magnachip Semiconductor from a “d” rating to a “c” rating in a report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $12.67.

Shares of Magnachip Semiconductor Corp (MX) traded up $0.15 during midday trading on Thursday, reaching $9.60. 194,502 shares of the company traded hands, compared to its average volume of 648,217. The company has a debt-to-equity ratio of -4.96, a current ratio of 2.42 and a quick ratio of 1.96. The company has a market capitalization of $307.71, a price-to-earnings ratio of 4.85 and a beta of -0.04. Magnachip Semiconductor Corp has a 12 month low of $7.15 and a 12 month high of $13.40.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings results on Tuesday, February 6th. The semiconductor company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.24 by ($0.01). The firm had revenue of $174.58 million during the quarter, compared to the consensus estimate of $174.00 million. Magnachip Semiconductor had a negative return on equity of 40.94% and a net margin of 12.50%. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.04 earnings per share. analysts predict that Magnachip Semiconductor Corp will post 0.75 EPS for the current fiscal year.

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About Magnachip Semiconductor

MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.

Institutional Ownership by Quarter for Magnachip Semiconductor (NYSE:MX)

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