Magnachip Semiconductor Co. (NYSE:MX) Shares Bought by American Century Companies Inc.

American Century Companies Inc. boosted its stake in shares of Magnachip Semiconductor Co. (NYSE:MX) by 13.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 57,173 shares of the semiconductor company’s stock after buying an additional 6,777 shares during the period. American Century Companies Inc. owned 0.15% of Magnachip Semiconductor worth $278,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MX. Grizzlyrock Capital LLC acquired a new position in Magnachip Semiconductor during the fourth quarter worth $2,462,000. Quadrature Capital Ltd acquired a new position in shares of Magnachip Semiconductor in the 4th quarter valued at $167,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Magnachip Semiconductor by 177.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 2,994 shares during the last quarter. Quantbot Technologies LP lifted its stake in shares of Magnachip Semiconductor by 28.8% in the 1st quarter. Quantbot Technologies LP now owns 43,326 shares of the semiconductor company’s stock valued at $242,000 after purchasing an additional 9,686 shares during the last quarter. Finally, Empowered Funds LLC lifted its stake in shares of Magnachip Semiconductor by 8.1% in the 1st quarter. Empowered Funds LLC now owns 190,573 shares of the semiconductor company’s stock valued at $1,063,000 after purchasing an additional 14,350 shares during the last quarter. Institutional investors and hedge funds own 74.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. StockNews.com raised Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research note on Thursday, September 26th. Barclays upgraded Magnachip Semiconductor to a “hold” rating in a report on Tuesday, September 10th. Finally, Needham & Company LLC cut their price objective on Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 1st.

Magnachip Semiconductor Price Performance

MX stock opened at $4.70 on Friday. The company has a current ratio of 5.03, a quick ratio of 4.34 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $179.86 million, a PE ratio of -6.01 and a beta of 0.64. Magnachip Semiconductor Co. has a 12-month low of $4.25 and a 12-month high of $8.30. The business’s fifty day moving average price is $4.81 and its 200 day moving average price is $4.98.

Magnachip Semiconductor (NYSE:MX) last issued its quarterly earnings results on Wednesday, July 31st. The semiconductor company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.13. Magnachip Semiconductor had a negative return on equity of 10.29% and a negative net margin of 18.49%. The company had revenue of $53.17 million for the quarter, compared to the consensus estimate of $51.45 million. On average, sell-side analysts anticipate that Magnachip Semiconductor Co. will post -1.13 EPS for the current year.

About Magnachip Semiconductor

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.