Fisher Asset Management LLC purchased a new position in shares of Magnachip Semiconductor Co. (NYSE:MX – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 148,401 shares of the semiconductor company’s stock, valued at approximately $1,393,000. Fisher Asset Management LLC owned about 0.34% of Magnachip Semiconductor at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. JPMorgan Chase & Co. lifted its stake in shares of Magnachip Semiconductor by 7,060.4% during the 1st quarter. JPMorgan Chase & Co. now owns 15,538 shares of the semiconductor company’s stock valued at $263,000 after buying an additional 15,321 shares in the last quarter. Citigroup Inc. lifted its stake in shares of Magnachip Semiconductor by 95.2% during the 1st quarter. Citigroup Inc. now owns 1,503 shares of the semiconductor company’s stock valued at $25,000 after buying an additional 733 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Magnachip Semiconductor by 26.5% during the 1st quarter. BlackRock Inc. now owns 189,501 shares of the semiconductor company’s stock valued at $3,205,000 after buying an additional 39,691 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Magnachip Semiconductor by 82.5% during the 1st quarter. Vanguard Group Inc. now owns 415,513 shares of the semiconductor company’s stock valued at $7,027,000 after buying an additional 187,859 shares in the last quarter. Finally, Covestor Ltd purchased a new position in shares of Magnachip Semiconductor during the 1st quarter valued at $65,000. Hedge funds and other institutional investors own 69.59% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on MX. StockNews.com began coverage on shares of Magnachip Semiconductor in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Royal Bank of Canada lifted their price target on shares of Magnachip Semiconductor from $45.00 to $50.00 and gave the company a “sector perform” rating in a report on Monday, February 6th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $13.00 price target on shares of Magnachip Semiconductor in a report on Friday, February 17th.
Magnachip Semiconductor Stock Down 0.4 %
Magnachip Semiconductor (NYSE:MX – Get Rating) last released its quarterly earnings results on Thursday, February 16th. The semiconductor company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.09). Magnachip Semiconductor had a positive return on equity of 0.69% and a negative net margin of 2.38%. The firm had revenue of $60.99 million for the quarter, compared to analysts’ expectations of $59.75 million. As a group, sell-side analysts expect that Magnachip Semiconductor Co. will post -0.27 earnings per share for the current fiscal year.
About Magnachip Semiconductor
MagnaChip Semiconductor Corp. engages in the design and manufacture of analog and mixed-signal platform solutions for communications, Internet of Things (IoT) applications, consumer, industrial, and automotive applications. Its products include MOSFETs; IGBTs; AC-DC/DC-DC converters; light-emitting diode (LED) drivers; regulators; power management integrated circuits (PMICs); and industrial applications such as power suppliers, e-bikes, photovoltaic inverters, LED lighting, and motor drives.
Further Reading
- Get a free copy of the StockNews.com research report on Magnachip Semiconductor (MX)
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