Immersion Corp Decreases Stock Holdings in Magnachip Semiconductor Corp. $MX

Immersion Corp lowered its stake in shares of Magnachip Semiconductor Corp. (NYSE:MX) by 31.5% during the fourth quarter, Holdings Channel reports. The fund owned 1,878,828 shares of the semiconductor company’s stock after selling 864,747 shares during the period. Magnachip Semiconductor makes up approximately 3.3% of Immersion Corp’s holdings, making the stock its 5th biggest holding. Immersion Corp owned approximately 0.05% of Magnachip Semiconductor worth $4,791,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Lepercq De Neuflize Asset Management LLC bought a new stake in Magnachip Semiconductor during the 3rd quarter worth about $3,215,000. Eurizon Capital SGR S.p.A. bought a new stake in Magnachip Semiconductor during the 4th quarter worth about $178,000. First Wilshire Securities Management Inc. grew its holdings in Magnachip Semiconductor by 53.8% during the 4th quarter. First Wilshire Securities Management Inc. now owns 732,857 shares of the semiconductor company’s stock worth $1,869,000 after acquiring an additional 256,211 shares during the last quarter. Potomac Capital Management Inc. bought a new stake in Magnachip Semiconductor during the 4th quarter worth about $987,000. Finally, FourWorld Capital Management LLC bought a new stake in Magnachip Semiconductor during the 4th quarter worth about $551,000. Institutional investors own 74.26% of the company’s stock.

Magnachip Semiconductor Stock Performance

Shares of MX stock opened at $5.29 on Thursday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.91 and a current ratio of 2.37. The company has a market capitalization of $192.80 million, a P/E ratio of -7.56 and a beta of 1.51. The company’s 50 day moving average price is $5.00 and its two-hundred day moving average price is $3.59. Magnachip Semiconductor Corp. has a 52 week low of $2.18 and a 52 week high of $9.86.

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

Wall Street Analyst Weigh In

MX has been the topic of a number of research analyst reports. Zacks Research lowered shares of Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Wall Street Zen raised shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $5.50.

About Magnachip Semiconductor

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.