Algert Global LLC trimmed its position in Magnachip Semiconductor Corp (NYSE:MX) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 123,718 shares of the semiconductor company’s stock after selling 16,899 shares during the quarter. Algert Global LLC’s holdings in Magnachip Semiconductor were worth $768,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Millennium Management LLC purchased a new position in Magnachip Semiconductor during the second quarter valued at approximately $2,649,000. Morgan Stanley raised its position in Magnachip Semiconductor by 8.6% during the third quarter. Morgan Stanley now owns 1,580,730 shares of the semiconductor company’s stock valued at $15,649,000 after acquiring an additional 125,488 shares in the last quarter. Clearline Capital LP raised its position in Magnachip Semiconductor by 31.0% during the third quarter. Clearline Capital LP now owns 304,636 shares of the semiconductor company’s stock valued at $3,016,000 after acquiring an additional 72,041 shares in the last quarter. Worth Venture Partners LLC purchased a new position in Magnachip Semiconductor during the third quarter valued at approximately $594,000. Finally, Bank of Montreal Can raised its position in Magnachip Semiconductor by 29.5% during the third quarter. Bank of Montreal Can now owns 148,900 shares of the semiconductor company’s stock valued at $1,474,000 after acquiring an additional 33,900 shares in the last quarter. Hedge funds and other institutional investors own 86.91% of the company’s stock.

Shares of MX opened at $6.81 on Friday. Magnachip Semiconductor Corp has a 12 month low of $5.75 and a 12 month high of $13.06. The company has a market capitalization of $234.90 million, a price-to-earnings ratio of 8.96 and a beta of 0.35.

In other Magnachip Semiconductor news, major shareholder Brigade Capital Management, Lp acquired 16,000 shares of the company’s stock in a transaction on Friday, December 21st. The shares were bought at an average cost of $6.15 per share, with a total value of $98,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders acquired 561,000 shares of company stock worth $3,908,000. 5.40% of the stock is owned by corporate insiders.

Several brokerages recently weighed in on MX. Roth Capital reduced their price target on Magnachip Semiconductor from $18.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, October 23rd. Citigroup reduced their price target on Magnachip Semiconductor from $12.00 to $9.40 and set a “neutral” rating for the company in a research report on Thursday, November 1st. Zacks Investment Research upgraded Magnachip Semiconductor from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Friday. ValuEngine cut Magnachip Semiconductor from a “sell” rating to a “strong sell” rating in a research report on Monday, November 26th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Magnachip Semiconductor in a research report on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Magnachip Semiconductor presently has a consensus rating of “Hold” and a consensus price target of $10.10.

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Magnachip Semiconductor Company Profile

MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.

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

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