Cohen Capital Management Inc. Increases Stake in Magnachip Semiconductor Corp (MX)
Cohen Capital Management Inc. grew its holdings in Magnachip Semiconductor Corp (NYSE:MX) by 77.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 275,026 shares of the semiconductor company’s stock after buying an additional 120,000 shares during the quarter. Cohen Capital Management Inc.’s holdings in Magnachip Semiconductor were worth $2,737,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Northern Trust Corp acquired a new stake in Magnachip Semiconductor in the second quarter worth about $111,000. Goldman Sachs Group Inc. acquired a new stake in Magnachip Semiconductor in the second quarter worth about $148,000. Citadel Advisors LLC increased its position in Magnachip Semiconductor by 66.9% in the third quarter. Citadel Advisors LLC now owns 15,465 shares of the semiconductor company’s stock worth $176,000 after purchasing an additional 6,197 shares during the period. Dixon Hubard Feinour & Brown Inc. VA acquired a new stake in Magnachip Semiconductor in the third quarter worth about $193,000. Finally, Fox Run Management L.L.C. acquired a new stake in Magnachip Semiconductor in the fourth quarter worth about $335,000. Institutional investors own 89.42% of the company’s stock.
Shares of Magnachip Semiconductor Corp (NYSE:MX) traded up $0.10 on Monday, reaching $12.90. The company’s stock had a trading volume of 424,900 shares, compared to its average volume of 305,192. The company has a debt-to-equity ratio of -4.96, a quick ratio of 1.96 and a current ratio of 2.42. Magnachip Semiconductor Corp has a 12-month low of $7.00 and a 12-month high of $13.40. The company has a market capitalization of $440.38, a PE ratio of -28.04 and a beta of -0.29.
A number of analysts recently commented on the company. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of Magnachip Semiconductor in a research report on Wednesday, January 17th. Zacks Investment Research lowered Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 4th. ValuEngine lowered Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, TheStreet lowered Magnachip Semiconductor from a “c-” rating to a “d” rating in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.67.
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About Magnachip Semiconductor
MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.
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