Menta Capital LLC Has $1.09 Million Position in MagnaChip Semiconductor Corporation (MX)
Menta Capital LLC increased its stake in MagnaChip Semiconductor Corporation (NYSE:MX) by 97.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 110,696 shares of the semiconductor company’s stock after buying an additional 54,679 shares during the quarter. Menta Capital LLC owned about 0.33% of MagnaChip Semiconductor Corporation worth $1,085,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Suntrust Banks Inc. bought a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter worth $101,000. Highbridge Capital Management LLC bought a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter worth $127,000. Columbia Pacific Advisors LLC bought a new stake in shares of MagnaChip Semiconductor Corporation during the first quarter worth $382,000. Granite Point Capital Management L.P. lifted its position in shares of MagnaChip Semiconductor Corporation by 35.9% during the second quarter. Granite Point Capital Management L.P. now owns 40,781 shares of the semiconductor company’s stock worth $400,000 after purchasing an additional 10,781 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new stake in shares of MagnaChip Semiconductor Corporation during the second quarter worth $427,000. Institutional investors own 93.50% of the company’s stock.
MagnaChip Semiconductor Corporation (NYSE MX) opened at 11.25 on Monday. MagnaChip Semiconductor Corporation has a 52 week low of $5.20 and a 52 week high of $12.75. The stock has a market cap of $382.90 million, a price-to-earnings ratio of 24.56 and a beta of -0.37. The stock’s 50 day moving average price is $11.24 and its 200 day moving average price is $9.71.
MagnaChip Semiconductor Corporation (NYSE:MX) last announced its quarterly earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.17. The business had revenue of $166.70 million during the quarter, compared to analyst estimates of $165.00 million. During the same period last year, the company earned ($0.05) EPS. The business’s revenue for the quarter was down .2% on a year-over-year basis. On average, analysts forecast that MagnaChip Semiconductor Corporation will post $0.78 earnings per share for the current year.
MX has been the subject of several research analyst reports. ValuEngine upgraded MagnaChip Semiconductor Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded MagnaChip Semiconductor Corporation from a “buy” rating to a “strong-buy” rating in a research report on Thursday, July 13th. Needham & Company LLC reiterated a “buy” rating and set a $15.00 target price (up from $13.00) on shares of MagnaChip Semiconductor Corporation in a research report on Friday, August 4th. Zacks Investment Research downgraded MagnaChip Semiconductor Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Finally, Citigroup Inc. lifted their target price on MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the stock a “neutral” rating in a research report on Monday, August 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. MagnaChip Semiconductor Corporation has a consensus rating of “Buy” and a consensus price target of $12.25.
In other news, Director Camillo Martino bought 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average price of $10.25 per share, with a total value of $102,500.00. Following the purchase, the director now owns 31,916 shares in the company, valued at $327,139. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tavakoli Nader bought 39,100 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average cost of $10.67 per share, for a total transaction of $417,197.00. Following the purchase, the director now owns 67,686 shares in the company, valued at approximately $722,209.62. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.
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MagnaChip Semiconductor Corporation Company Profile
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.
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