Verition Fund Management LLC lowered its position in Magnachip Semiconductor Co. (NYSE:MX – Get Rating) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,497 shares of the semiconductor company’s stock after selling 3,100 shares during the quarter. Verition Fund Management LLC owned approximately 0.34% of Magnachip Semiconductor worth $2,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also bought and sold shares of the company. Citigroup Inc. boosted its stake in shares of Magnachip Semiconductor by 95.2% during the first quarter. Citigroup Inc. now owns 1,503 shares of the semiconductor company’s stock valued at $25,000 after purchasing an additional 733 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Magnachip Semiconductor by 5,430.0% during the first quarter. BNP Paribas Arbitrage SA now owns 2,212 shares of the semiconductor company’s stock valued at $37,000 after purchasing an additional 2,172 shares during the period. Ancora Advisors LLC purchased a new stake in shares of Magnachip Semiconductor during the first quarter valued at approximately $50,000. PenderFund Capital Management Ltd. purchased a new stake in shares of Magnachip Semiconductor during the fourth quarter valued at approximately $56,000. Finally, Covestor Ltd purchased a new stake in shares of Magnachip Semiconductor during the first quarter valued at approximately $65,000. Hedge funds and other institutional investors own 68.38% of the company’s stock.
Magnachip Semiconductor Stock Down 1.4 %
Shares of MX stock opened at $11.42 on Friday. The stock has a fifty day moving average of $13.50 and a 200 day moving average of $15.73. Magnachip Semiconductor Co. has a 52 week low of $11.13 and a 52 week high of $22.28. The firm has a market capitalization of $512.76 million, a price-to-earnings ratio of 7.72, a PEG ratio of 1.45 and a beta of 1.10.
Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered Magnachip Semiconductor from a “buy” rating to a “hold” rating in a research note on Wednesday, August 10th.
Magnachip Semiconductor 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, 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, notebook PCs, monitors and liquid crystal displays, and micro light-emitting diode (LED) televisions.
- Get a free copy of the StockNews.com research report on Magnachip Semiconductor (MX)
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