FourWorld Capital Management LLC Buys 1,441,593 Shares of Magnachip Semiconductor Corp. $MX

FourWorld Capital Management LLC lifted its stake in shares of Magnachip Semiconductor Corp. (NYSE:MX) by 667.1% during the first quarter, Holdings Channel reports. The firm owned 1,657,701 shares of the semiconductor company’s stock after purchasing an additional 1,441,593 shares during the quarter. Magnachip Semiconductor makes up approximately 2.4% of FourWorld Capital Management LLC’s portfolio, making the stock its 7th largest holding. FourWorld Capital Management LLC’s holdings in Magnachip Semiconductor were worth $4,642,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MX. LPL Financial LLC acquired a new position in shares of Magnachip Semiconductor in the 4th quarter valued at $30,000. Sei Investments Co. acquired a new stake in Magnachip Semiconductor during the 2nd quarter worth about $61,000. Quadrature Capital Ltd raised its holdings in Magnachip Semiconductor by 57.0% during the 4th quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company’s stock worth $62,000 after buying an additional 8,863 shares during the period. XTX Topco Ltd purchased a new stake in Magnachip Semiconductor during the fourth quarter valued at about $65,000. Finally, Boothbay Fund Management LLC purchased a new stake in Magnachip Semiconductor during the fourth quarter valued at about $69,000. 74.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Magnachip Semiconductor Stock Down 0.1%

Shares of Magnachip Semiconductor stock opened at $3.50 on Monday. Magnachip Semiconductor Corp. has a 1 year low of $2.18 and a 1 year high of $9.86. The company has a market cap of $127.36 million, a P/E ratio of -4.99 and a beta of 1.59. The company has a current ratio of 2.37, a quick ratio of 1.91 and a debt-to-equity ratio of 0.07. The stock has a 50-day moving average price of $5.26 and a 200 day moving average price of $3.88.

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

Magnachip Semiconductor Profile

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.