AQR Capital Management LLC Trims Stock Holdings in Magnachip Semiconductor Co. (NYSE:MX)

AQR Capital Management LLC reduced its position in shares of Magnachip Semiconductor Co. (NYSE:MX) by 64.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 171,127 shares of the semiconductor company’s stock after selling 303,841 shares during the period. AQR Capital Management LLC owned approximately 0.45% of Magnachip Semiconductor worth $833,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Quadrature Capital Ltd purchased a new stake in Magnachip Semiconductor in the fourth quarter worth about $167,000. Allspring Global Investments Holdings LLC raised its position in Magnachip Semiconductor by 177.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 2,994 shares during the period. Quantbot Technologies LP increased its stake in shares of Magnachip Semiconductor by 28.8% in the first quarter. Quantbot Technologies LP now owns 43,326 shares of the semiconductor company’s stock worth $242,000 after purchasing an additional 9,686 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Magnachip Semiconductor by 8.1% in the first quarter. Empowered Funds LLC now owns 190,573 shares of the semiconductor company’s stock worth $1,063,000 after purchasing an additional 14,350 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Magnachip Semiconductor by 2.8% during the first quarter. Vanguard Group Inc. now owns 1,049,496 shares of the semiconductor company’s stock valued at $5,856,000 after acquiring an additional 28,860 shares in the last quarter. 74.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MX has been the subject of a number of research analyst reports. StockNews.com upgraded shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Thursday, September 26th. Barclays upgraded shares of Magnachip Semiconductor to a “hold” rating in a report on Tuesday, September 10th. Finally, Needham & Company LLC cut their price objective on shares of Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 1st.

Magnachip Semiconductor Price Performance

NYSE:MX opened at $4.74 on Friday. The firm’s fifty day moving average is $4.76 and its two-hundred day moving average is $4.94. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.34 and a current ratio of 5.03. Magnachip Semiconductor Co. has a one year low of $4.25 and a one year high of $8.16. The firm has a market cap of $181.39 million, a price-to-earnings ratio of -6.08 and a beta of 0.64.

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

Magnachip Semiconductor Company Profile

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.