Magnachip Semiconductor Corp (MX) Shares Sold by Algert Global LLC
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.
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.
ILLEGAL ACTIVITY NOTICE: This article was reported by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark laws. The original version of this article can be read at https://www.dailypolitical.com/2019/02/09/magnachip-semiconductor-corp-mx-shares-sold-by-algert-global-llc.html.
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.
See Also: What are convertible shares?
Want to see what other hedge funds are holding MX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Magnachip Semiconductor Corp (NYSE:MX).
Receive News & Ratings for Magnachip Semiconductor Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Magnachip Semiconductor and related companies with MarketBeat.com's FREE daily email newsletter.