Clearline Capital LP Has $3.73 Million Holdings in Magnachip Semiconductor Corp. $MX

Clearline Capital LP cut its holdings in Magnachip Semiconductor Corp. (NYSE:MX) by 23.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,461,036 shares of the semiconductor company’s stock after selling 439,140 shares during the quarter. Clearline Capital LP’s holdings in Magnachip Semiconductor were worth $3,726,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. LPL Financial LLC acquired a new position in Magnachip Semiconductor in the fourth quarter valued at approximately $30,000. Sei Investments Co. acquired a new position in Magnachip Semiconductor in the second quarter valued at approximately $61,000. NewEdge Advisors LLC acquired a new position in Magnachip Semiconductor in the second quarter valued at approximately $74,000. Boothbay Fund Management LLC acquired a new position in Magnachip Semiconductor in the fourth quarter valued at approximately $69,000. Finally, Algert Global LLC lifted its stake in Magnachip Semiconductor by 44.7% in the third quarter. Algert Global LLC now owns 29,455 shares of the semiconductor company’s stock valued at $92,000 after buying an additional 9,100 shares during the period. 74.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MX has been the topic of several recent analyst reports. Zacks Research lowered Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Wall Street Zen raised Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings raised Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.50.

Magnachip Semiconductor Trading Down 3.8%

Shares of Magnachip Semiconductor stock opened at $5.29 on Thursday. The stock has a fifty day simple moving average of $5.00 and a 200 day simple moving average of $3.59. Magnachip Semiconductor Corp. has a 12-month low of $2.18 and a 12-month high of $9.86. The company has a market capitalization of $192.80 million, a P/E ratio of -7.56 and a beta of 1.51. The company has a current ratio of 2.37, a quick ratio of 1.91 and a debt-to-equity ratio of 0.07.

Magnachip Semiconductor (NYSE:MX) last announced its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.22) by $0.11. Magnachip Semiconductor had a negative return on equity of 4.68% and a negative net margin of 14.14%.The business had revenue of $46.21 million during the quarter, compared to the consensus estimate of $46.00 million.

Magnachip Semiconductor Profile

Magnachip Semiconductor Inc is a fabless semiconductor company specializing in high-performance analog and mixed-signal solutions for the display, power management and lighting markets. Its core product portfolio includes display driver ICs for LCD and OLED panels, high-voltage MOSFETs, DC-DC converters, LED driver ICs and power management devices used in consumer electronics, mobile devices, industrial equipment and automotive applications.

Founded in 2004 as a spin-off from MagnaChip, Magnachip is incorporated in the United States with design and sales offices strategically located across North America, Europe and Asia.