Granite Point Capital Management L.P. boosted its position in MagnaChip Semiconductor Corporation (NYSE:MX) by 35.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 40,781 shares of the semiconductor company’s stock after acquiring an additional 10,781 shares during the quarter. Granite Point Capital Management L.P. owned 0.12% of MagnaChip Semiconductor Corporation worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Evermore Global Advisors LLC lifted its stake in shares of MagnaChip Semiconductor Corporation by 46.8% during the second quarter. Evermore Global Advisors LLC now owns 2,331,205 shares of the semiconductor company’s stock worth $22,846,000 after purchasing an additional 743,575 shares in the last quarter. Rubric Capital Management LP lifted its stake in shares of MagnaChip Semiconductor Corporation by 13.2% during the second quarter. Rubric Capital Management LP now owns 1,925,000 shares of the semiconductor company’s stock worth $18,865,000 after purchasing an additional 225,000 shares in the last quarter. Morgan Stanley lifted its stake in shares of MagnaChip Semiconductor Corporation by 91.0% during the first quarter. Morgan Stanley now owns 916,194 shares of the semiconductor company’s stock worth $8,749,000 after purchasing an additional 436,509 shares in the last quarter. Alliancebernstein L.P. acquired a new position in shares of MagnaChip Semiconductor Corporation during the second quarter worth about $7,774,000. Finally, Dimensional Fund Advisors LP lifted its stake in shares of MagnaChip Semiconductor Corporation by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 607,785 shares of the semiconductor company’s stock worth $5,804,000 after purchasing an additional 34,253 shares in the last quarter. Hedge funds and other institutional investors own 93.50% of the company’s stock.

In other MagnaChip Semiconductor Corporation news, Director Camillo Martino bought 10,000 shares of the stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of $10.25 per share, with a total value of $102,500.00. Following the completion of the transaction, the director now directly owns 31,916 shares of the company’s stock, valued at approximately $327,139. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Marc Lasry sold 4,088,978 shares of the stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $10.98, for a total transaction of $44,896,978.44. The disclosure for this sale can be found here. Corporate insiders own 3.80% of the company’s stock.

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MX has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and set a $15.00 price objective (up previously from $13.00) on shares of MagnaChip Semiconductor Corporation in a research note on Friday, August 4th. BidaskClub upgraded MagnaChip Semiconductor Corporation from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. ValuEngine upgraded MagnaChip Semiconductor Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research cut MagnaChip Semiconductor Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Citigroup Inc. boosted their price objective on MagnaChip Semiconductor Corporation from $10.50 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. MagnaChip Semiconductor Corporation currently has a consensus rating of “Buy” and a consensus price target of $12.25.

MagnaChip Semiconductor Corporation (NYSE MX) traded up 0.44% on Thursday, hitting $11.40. The company had a trading volume of 40,080 shares. The firm’s 50 day moving average price is $11.24 and its 200 day moving average price is $9.56. The stock has a market cap of $388.01 million, a P/E ratio of 24.89 and a beta of -0.37. MagnaChip Semiconductor Corporation has a 12-month low of $5.20 and a 12-month high of $12.75.

MagnaChip Semiconductor Corporation (NYSE:MX) last posted its earnings results on Thursday, August 3rd. The semiconductor company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.17. The business had revenue of $166.70 million for the quarter, compared to analyst estimates of $165.00 million. The company’s quarterly revenue was down .2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. Equities analysts predict that MagnaChip Semiconductor Corporation will post $0.78 earnings per share for the current fiscal year.

MagnaChip Semiconductor Corporation Profile

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.

Institutional Ownership by Quarter for MagnaChip Semiconductor Corporation (NYSE:MX)

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