Magnachip Semiconductor Corp. (MX) Stake Lowered by California Public Employees Retirement System
California Public Employees Retirement System lowered its position in Magnachip Semiconductor Corp. (NYSE:MX) by 6.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,900 shares of the company’s stock after selling 14,700 shares during the period. California Public Employees Retirement System owned 0.64% of Magnachip Semiconductor Corp. worth $1,262,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in MX. Smith Asset Management Group LP bought a new position in Magnachip Semiconductor Corp. during the second quarter worth $129,000. Hollencrest Securities LLC boosted its position in Magnachip Semiconductor Corp. by 46.8% in the second quarter. Hollencrest Securities LLC now owns 90,900 shares of the company’s stock worth $514,000 after buying an additional 29,000 shares during the last quarter. Bogle Investment Management L P DE bought a new position in Magnachip Semiconductor Corp. during the first quarter worth $578,000. A.R.T. Advisors LLC boosted its position in Magnachip Semiconductor Corp. by 204.4% in the first quarter. A.R.T. Advisors LLC now owns 107,221 shares of the company’s stock worth $583,000 after buying an additional 72,000 shares during the last quarter. Finally, Kennedy Capital Management Inc. bought a new position in Magnachip Semiconductor Corp. during the first quarter worth $4,646,000. Institutional investors and hedge funds own 76.38% of the company’s stock.
Shares of Magnachip Semiconductor Corp. (NYSE:MX) remained flat at $8.27 during trading on Friday. 45,689 shares of the company were exchanged. The stock’s 50-day moving average is $8.36 and its 200-day moving average is $6.41. Magnachip Semiconductor Corp. has a one year low of $3.10 and a one year high of $9.17. The firm’s market cap is $287.23 million.
Magnachip Semiconductor Corp. (NYSE:MX) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.20. The company had revenue of $167.10 million for the quarter, compared to the consensus estimate of $159 million. On average, analysts expect that Magnachip Semiconductor Corp. will post ($0.77) EPS for the current fiscal year.
Separately, Roth Capital started coverage on shares of Magnachip Semiconductor Corp. in a research report on Wednesday, September 28th. They set a “buy” rating and a $10.00 price objective for the company.
In other news, major shareholder Pleasant Lake Partners Llc sold 58,000 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $7.49, for a total value of $434,420.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 4.20% of the stock is currently owned by insiders.
About Magnachip Semiconductor Corp.
MagnaChip Semiconductor Corporation is a holding company, which designs and manufactures 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 applications.
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