Immersion Corp Has $4.79 Million Holdings in Magnachip Semiconductor Corp. $MX

Immersion Corp trimmed its holdings in Magnachip Semiconductor Corp. (NYSE:MX) by 31.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,878,828 shares of the semiconductor company’s stock after selling 864,747 shares during the period. Magnachip Semiconductor accounts for approximately 3.3% of Immersion Corp’s holdings, making the stock its 5th largest position. Immersion Corp owned about 5.22% of Magnachip Semiconductor worth $4,791,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. LPL Financial LLC acquired a new stake in shares of Magnachip Semiconductor in the fourth quarter worth $30,000. Sei Investments Co. acquired a new stake in shares of Magnachip Semiconductor in the second quarter worth $61,000. NewEdge Advisors LLC acquired a new stake in shares of Magnachip Semiconductor in the second quarter worth $74,000. Boothbay Fund Management LLC acquired a new position in Magnachip Semiconductor during the 4th quarter valued at $69,000. Finally, Algert Global LLC raised its stake in Magnachip Semiconductor by 44.7% during the 3rd quarter. Algert Global LLC now owns 29,455 shares of the semiconductor company’s stock valued at $92,000 after purchasing an additional 9,100 shares during the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.

Magnachip Semiconductor Stock Down 3.8%

MX opened at $5.29 on Thursday. The firm’s 50-day simple moving average is $5.00 and its 200-day simple moving average is $3.59. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.91 and a current ratio of 2.37. Magnachip Semiconductor Corp. has a twelve month low of $2.18 and a twelve month high of $9.86. The firm has a market cap of $192.80 million, a price-to-earnings ratio of -7.56 and a beta of 1.51.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on MX. Weiss Ratings upgraded shares of Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 4th. Wall Street Zen upgraded shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Zacks Research cut shares of Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.50.

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.