Dimensional Fund Advisors LP Sells 278,753 Shares of Magnachip Semiconductor Corp. $MX

Dimensional Fund Advisors LP cut its holdings in shares of Magnachip Semiconductor Corp. (NYSE:MX) by 33.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 549,106 shares of the semiconductor company’s stock after selling 278,753 shares during the period. Dimensional Fund Advisors LP’s holdings in Magnachip Semiconductor were worth $1,537,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MX. Lepercq De Neuflize Asset Management LLC boosted its position in Magnachip Semiconductor by 162.3% in the fourth quarter. Lepercq De Neuflize Asset Management LLC now owns 2,694,527 shares of the semiconductor company’s stock worth $6,871,000 after purchasing an additional 1,667,434 shares during the last quarter. XTX Topco Ltd purchased a new position in Magnachip Semiconductor during the 4th quarter valued at $65,000. Quadrature Capital Ltd grew its stake in Magnachip Semiconductor by 57.0% in the 4th quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 8,863 shares in the last quarter. Millennium Management LLC increased its position in Magnachip Semiconductor by 13.6% during the 4th quarter. Millennium Management LLC now owns 288,837 shares of the semiconductor company’s stock valued at $737,000 after purchasing an additional 34,582 shares during the period. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Magnachip Semiconductor in the 4th quarter worth $69,000. 74.26% of the stock is owned by institutional investors.

Magnachip Semiconductor Price Performance

Shares of MX stock opened at $3.81 on Friday. The firm’s 50 day moving average is $4.36 and its 200-day moving average is $3.94. Magnachip Semiconductor Corp. has a 1 year low of $2.18 and a 1 year high of $9.86. The firm has a market capitalization of $139.29 million, a price-to-earnings ratio of -4.54 and a beta of 1.63. The company has a current ratio of 2.43, a quick ratio of 1.91 and a debt-to-equity ratio of 0.07.

Magnachip Semiconductor (NYSE:MX) last announced its earnings results on Wednesday, July 29th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.09. The firm had revenue of $44.70 million for the quarter, compared to the consensus estimate of $46.50 million. Magnachip Semiconductor had a negative net margin of 17.26% and a negative return on equity of 5.84%.

Analyst Upgrades and Downgrades

Several research firms have commented on MX. Zacks Research lowered Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Wall Street Zen raised Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Magnachip Semiconductor in a report on Friday, July 31st. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

About Magnachip Semiconductor

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.