Magnachip Semiconductor Corp. $MX Shares Bought by First Wilshire Securities Management Inc.

First Wilshire Securities Management Inc. grew its stake in shares of Magnachip Semiconductor Corp. (NYSE:MX) by 53.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 732,857 shares of the semiconductor company’s stock after acquiring an additional 256,211 shares during the period. First Wilshire Securities Management Inc. owned about 2.04% of Magnachip Semiconductor worth $1,869,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. LPL Financial LLC acquired a new stake in shares of Magnachip Semiconductor during the 4th quarter valued at approximately $30,000. Sei Investments Co. acquired a new position in shares of Magnachip Semiconductor during the 2nd quarter worth approximately $61,000. NewEdge Advisors LLC acquired a new position in shares of Magnachip Semiconductor during the 2nd quarter worth approximately $74,000. Algert Global LLC raised its position in shares of Magnachip Semiconductor by 44.7% during the 3rd quarter. Algert Global LLC now owns 29,455 shares of the semiconductor company’s stock worth $92,000 after purchasing an additional 9,100 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Magnachip Semiconductor during the 1st quarter worth approximately $115,000. 74.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Wall Street Zen upgraded Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research downgraded Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research 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 analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Magnachip Semiconductor presently has an average rating of “Hold” and an average price target of $5.50.

Magnachip Semiconductor Stock Up 2.2%

MX stock opened at $6.21 on Friday. The stock has a market capitalization of $226.40 million, a P/E ratio of -8.88 and a beta of 1.51. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.91 and a current ratio of 2.37. Magnachip Semiconductor Corp. has a one year low of $2.18 and a one year high of $9.86. The company has a 50 day moving average price of $4.76 and a two-hundred day moving average price of $3.50.

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

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.