Oxford Asset Management reduced its position in shares of MagnaChip Semiconductor Corporation (NYSE:MX) by 84.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,313 shares of the semiconductor company’s stock after selling 295,573 shares during the period. Oxford Asset Management’s holdings in MagnaChip Semiconductor Corporation were worth $528,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of MX. State Street Corp increased its stake in shares of MagnaChip Semiconductor Corporation by 2.7% in the fourth quarter. State Street Corp now owns 38,616 shares of the semiconductor company’s stock worth $239,000 after buying an additional 998 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of MagnaChip Semiconductor Corporation by 47.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 573,532 shares of the semiconductor company’s stock worth $3,556,000 after buying an additional 185,625 shares during the last quarter. Allianz Asset Management AG acquired a new stake in shares of MagnaChip Semiconductor Corporation during the fourth quarter worth $1,792,000. Renaissance Technologies LLC increased its stake in shares of MagnaChip Semiconductor Corporation by 713.9% in the fourth quarter. Renaissance Technologies LLC now owns 228,131 shares of the semiconductor company’s stock worth $1,414,000 after buying an additional 200,100 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new stake in shares of MagnaChip Semiconductor Corporation during the fourth quarter worth $131,000. 93.03% of the stock is owned by institutional investors.
Shares of MagnaChip Semiconductor Corporation (MX) opened at 9.20 on Thursday. MagnaChip Semiconductor Corporation has a 1-year low of $5.13 and a 1-year high of $10.20. The firm’s 50-day moving average is $8.90 and its 200-day moving average is $7.95. The stock has a market capitalization of $311.75 million, a price-to-earnings ratio of 53.18 and a beta of -0.29.
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MX has been the subject of a number of research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of MagnaChip Semiconductor Corporation in a report on Thursday, February 16th. TheStreet raised shares of MagnaChip Semiconductor Corporation from a “d” rating to a “c-” rating in a research note on Thursday, May 4th. Citigroup Inc. assumed coverage on shares of MagnaChip Semiconductor Corporation in a research note on Wednesday, May 10th. They set a “neutral” rating and a $10.50 price objective for the company. Finally, ValuEngine raised shares of MagnaChip Semiconductor Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $9.94.
In other MagnaChip Semiconductor Corporation news, insider Young-Joon Kim sold 11,800 shares of the firm’s stock in a transaction dated Thursday, May 4th. The stock was sold at an average price of $8.90, for a total transaction of $105,020.00. Following the transaction, the insider now owns 59,075 shares in the company, valued at $525,767.50. The sale was disclosed in a document filed with the SEC, which is available through this link. 3.80% of the stock is currently owned by company insiders.
About MagnaChip Semiconductor Corporation
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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