Eurizon Capital SGR S.p.A. Takes Position in Magnachip Semiconductor Corp. $MX

Eurizon Capital SGR S.p.A. purchased a new stake in Magnachip Semiconductor Corp. (NYSE:MX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 68,175 shares of the semiconductor company’s stock, valued at approximately $178,000. Eurizon Capital SGR S.p.A. owned approximately 0.19% of Magnachip Semiconductor as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. lifted its stake 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 valued at $4,485,000 after buying an additional 208,417 shares during the period. Vanguard Group Inc. lifted its stake in shares of Magnachip Semiconductor by 0.6% during the third 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. Lepercq De Neuflize Asset Management LLC purchased a new position in shares of Magnachip Semiconductor during the third quarter valued at approximately $3,215,000. Marshall Wace LLP lifted its stake 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 valued at $2,784,000 after buying an additional 288,664 shares during the period. Finally, Bridgeway Capital Management LLC lifted its stake in shares of Magnachip Semiconductor by 11.9% during the third quarter. Bridgeway Capital Management LLC now owns 488,895 shares of the semiconductor company’s stock valued at $1,530,000 after buying an additional 52,000 shares during the period. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Magnachip Semiconductor Stock Performance

Shares of MX opened at $8.56 on Friday. The firm has a 50-day moving average price of $4.40 and a 200 day moving average price of $3.35. Magnachip Semiconductor Corp. has a 52-week low of $2.18 and a 52-week high of $9.86. The firm has a market capitalization of $311.74 million, a PE ratio of -12.22 and a beta of 1.51. 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 (NYSE:MX) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $46.00 million.

Wall Street Analysts Forecast Growth

Several research firms have commented on MX. 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 investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.50.

Magnachip Semiconductor Company 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.