Magnachip Semiconductor Corp. $MX Shares Sold by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. lowered its position in Magnachip Semiconductor Corp. (NYSE:MX) by 14.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,725 shares of the semiconductor company’s stock after selling 19,070 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.32% of Magnachip Semiconductor worth $390,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MX. Clearline Capital LP raised its position in Magnachip Semiconductor by 5.5% in the 4th quarter. Clearline Capital LP now owns 1,900,176 shares of the semiconductor company’s stock valued at $7,639,000 after purchasing an additional 99,421 shares during the last quarter. Ameriprise Financial Inc. raised its position in Magnachip Semiconductor by 112.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,458,280 shares of the semiconductor company’s stock valued at $5,862,000 after purchasing an additional 772,085 shares during the last quarter. Millennium Management LLC raised its position in Magnachip Semiconductor by 20.5% in the 4th quarter. Millennium Management LLC now owns 589,984 shares of the semiconductor company’s stock valued at $2,372,000 after purchasing an additional 100,464 shares during the last quarter. Bridgeway Capital Management LLC raised its position in Magnachip Semiconductor by 10.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 574,451 shares of the semiconductor company’s stock valued at $2,309,000 after purchasing an additional 55,588 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Magnachip Semiconductor by 14.4% in the 4th quarter. BNP Paribas Financial Markets now owns 310,430 shares of the semiconductor company’s stock valued at $1,248,000 after buying an additional 39,179 shares during the period. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Wall Street Analyst Weigh In

MX has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd. Needham & Company LLC lowered their price target on shares of Magnachip Semiconductor from $6.00 to $5.50 and set a “buy” rating on the stock in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Magnachip Semiconductor has a consensus rating of “Moderate Buy” and an average target price of $5.50.

Magnachip Semiconductor Trading Down 0.2%

MX opened at $2.8350 on Tuesday. The firm has a market capitalization of $101.83 million, a P/E ratio of -3.05 and a beta of 0.84. The firm’s 50 day moving average is $3.64 and its 200-day moving average is $3.69. Magnachip Semiconductor Corp. has a 52-week low of $2.51 and a 52-week high of $5.16. The company has a quick ratio of 3.77, a current ratio of 4.65 and a debt-to-equity ratio of 0.14.

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, 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.