Marshall Wace LLP Sells 452,551 Shares of Magnachip Semiconductor Co. (NYSE:MX)

Marshall Wace LLP decreased its position in Magnachip Semiconductor Co. (NYSE:MX) by 56.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 351,907 shares of the semiconductor company’s stock after selling 452,551 shares during the quarter. Marshall Wace LLP owned 0.92% of Magnachip Semiconductor worth $1,714,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MX. Grizzlyrock Capital LLC acquired a new position in Magnachip Semiconductor in the fourth quarter worth $2,462,000. Bank of Montreal Can bought a new stake in Magnachip Semiconductor during the 2nd quarter worth about $518,000. Vanguard Group Inc. increased its position in Magnachip Semiconductor by 2.8% in 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. Quadrature Capital Ltd bought a new position in shares of Magnachip Semiconductor in the fourth quarter worth about $167,000. Finally, Citizens Financial Group Inc. RI acquired a new position in shares of Magnachip Semiconductor during the first quarter worth approximately $89,000. Institutional investors and hedge funds own 74.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MX. Needham & Company LLC dropped their price objective 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 upgraded Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Thursday, September 26th. Finally, Barclays upgraded Magnachip Semiconductor to a “hold” rating in a report on Tuesday, September 10th.

Magnachip Semiconductor Trading Up 1.1 %

Shares of NYSE MX opened at $4.70 on Friday. The company’s 50 day simple moving average is $4.81 and its 200 day simple moving average is $4.97. The company has a debt-to-equity ratio of 0.09, a current ratio of 5.03 and a quick ratio of 4.34. Magnachip Semiconductor Co. has a fifty-two week low of $4.25 and a fifty-two week high of $8.30. The firm has a market capitalization of $179.86 million, a P/E ratio of -6.03 and a beta of 0.64.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly 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. The business had revenue of $53.17 million for the quarter, compared to analyst estimates of $51.45 million. Magnachip Semiconductor had a negative return on equity of 10.29% and a negative net margin of 18.49%. On average, analysts predict 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.