Magnachip Semiconductor Co. (NYSE:MX) Shares Sold by Empowered Funds LLC

Empowered Funds LLC trimmed its stake in shares of Magnachip Semiconductor Co. (NYSE:MX) by 15.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 106,709 shares of the semiconductor company’s stock after selling 19,240 shares during the quarter. Empowered Funds LLC owned about 0.28% of Magnachip Semiconductor worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Clearline Capital LP raised its position in Magnachip Semiconductor by 37.5% in the second quarter. Clearline Capital LP now owns 1,683,676 shares of the semiconductor company’s stock worth $8,200,000 after acquiring an additional 459,365 shares in the last quarter. Vanguard Group Inc. grew its stake in Magnachip Semiconductor by 2.8% during the 1st 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. Millennium Management LLC boosted its holdings in shares of Magnachip Semiconductor by 9.7% during the second quarter. Millennium Management LLC now owns 562,094 shares of the semiconductor company’s stock worth $2,737,000 after purchasing an additional 49,670 shares during the period. Bank of Montreal Can purchased a new stake in Magnachip Semiconductor in the 2nd quarter worth approximately $518,000. Finally, American Century Companies Inc. raised its holdings in shares of Magnachip Semiconductor by 13.4% during the second quarter. American Century Companies Inc. now owns 57,173 shares of the semiconductor company’s stock worth $278,000 after acquiring an additional 6,777 shares in the last quarter. Institutional investors own 74.26% of the company’s stock.

Analyst Upgrades and Downgrades

MX has been the subject of several recent research reports. Needham & Company LLC decreased their target price on shares of Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 1st. StockNews.com downgraded Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. Finally, Barclays upgraded shares of Magnachip Semiconductor to a “hold” rating in a research note on Tuesday, September 10th.

Magnachip Semiconductor Trading Up 5.2 %

Shares of MX opened at $3.86 on Monday. The company has a current ratio of 4.81, a quick ratio of 4.09 and a debt-to-equity ratio of 0.10. The stock has a market cap of $143.59 million, a PE ratio of -3.33 and a beta of 0.63. Magnachip Semiconductor Co. has a 1 year low of $3.56 and a 1 year high of $8.16. The stock has a 50 day simple moving average of $4.41 and a 200-day simple moving average of $4.75.

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.