Granite Investment Partners LLC Has $2,681,000 Position in Magnachip Semiconductor Corp. (MX)
Granite Investment Partners LLC increased its position in shares of Magnachip Semiconductor Corp. (NYSE:MX) by 6.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 321,501 shares of the company’s stock after buying an additional 19,436 shares during the period. Granite Investment Partners LLC owned approximately 0.93% of Magnachip Semiconductor Corp. worth $2,681,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. A.R.T. Advisors LLC raised its position in shares of Magnachip Semiconductor Corp. by 204.4% in the first quarter. A.R.T. Advisors LLC now owns 107,221 shares of the company’s stock worth $583,000 after buying an additional 72,000 shares in the last quarter. Hollencrest Securities LLC raised its position in shares of Magnachip Semiconductor Corp. by 46.8% in the second quarter. Hollencrest Securities LLC now owns 90,900 shares of the company’s stock worth $514,000 after buying an additional 29,000 shares in the last quarter. Smith Asset Management Group LP bought a new position in shares of Magnachip Semiconductor Corp. during the second quarter worth approximately $129,000. Oxford Asset Management raised its position in shares of Magnachip Semiconductor Corp. by 209.3% in the second quarter. Oxford Asset Management now owns 176,358 shares of the company’s stock worth $998,000 after buying an additional 119,331 shares in the last quarter. Finally, Picton Mahoney Asset Management bought a new position in shares of Magnachip Semiconductor Corp. during the second quarter worth approximately $133,000. 77.39% of the stock is currently owned by institutional investors and hedge funds.
Shares of Magnachip Semiconductor Corp. (NYSE:MX) traded down 2.0590% during mid-day trading on Monday, hitting $6.8069. The stock had a trading volume of 117,591 shares. The stock has a market capitalization of $238.23 million, a P/E ratio of 5.5341 and a beta of 0.41. The stock has a 50 day moving average of $6.96 and a 200-day moving average of $6.74. Magnachip Semiconductor Corp. has a 52 week low of $3.10 and a 52 week high of $9.17.
Magnachip Semiconductor Corp. (NYSE:MX) last released its quarterly earnings data on Thursday, October 27th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by $0.07. The business earned $192.30 million during the quarter, compared to the consensus estimate of $183 million. Magnachip Semiconductor Corp. had a net margin of 6.52% and a negative return on equity of 44.29%. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. On average, equities research analysts predict that Magnachip Semiconductor Corp. will post ($0.23) earnings per share for the current year.
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A number of analysts have issued reports on the company. Zacks Investment Research lowered Magnachip Semiconductor Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, November 8th. Roth Capital assumed coverage on Magnachip Semiconductor Corp. in a report on Wednesday, September 28th. They issued a “buy” rating and a $10.00 target price on the stock.
Magnachip Semiconductor Corp. Company Profile
MagnaChip Semiconductor Corporation is a holding company, which designs and manufactures 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 applications.
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