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Weiss Asset Management LP purchased a new stake in Magnachip Semiconductor Co. (NYSE:MX - Get Rating) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 14,969 shares of the semiconductor company's stock, valued at approximately $153,000.
→ Bank Accounts: Frozen! (From Weiss Ratings)
Several other large investors have also recently added to or reduced their stakes in MX. Brinker Capital Investments LLC raised its holdings in shares of Magnachip Semiconductor by 2.8% in the 1st quarter. Brinker Capital Investments LLC now owns 23,164 shares of the semiconductor company's stock worth $392,000 after buying an additional 627 shares in the last quarter. PenderFund Capital Management Ltd. raised its holdings in shares of Magnachip Semiconductor by 33.3% in the 1st quarter. PenderFund Capital Management Ltd. now owns 2,800 shares of the semiconductor company's stock worth $59,000 after buying an additional 700 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Magnachip Semiconductor by 95.2% in the 1st quarter. Citigroup Inc. now owns 1,503 shares of the semiconductor company's stock worth $25,000 after buying an additional 733 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Magnachip Semiconductor by 2.5% in the 1st quarter. Northern Trust Corp now owns 45,109 shares of the semiconductor company's stock worth $763,000 after buying an additional 1,111 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Magnachip Semiconductor by 10.3% in the 2nd quarter. Legal & General Group Plc now owns 12,771 shares of the semiconductor company's stock worth $186,000 after buying an additional 1,193 shares in the last quarter. Institutional investors and hedge funds own 69.59% of the company's stock. Analysts Set New Price Targets
A number of research firms recently weighed in on MX. StockNews.com began coverage on Magnachip Semiconductor in a report on Thursday, March 16th. They set a "hold" rating for the company. Royal Bank of Canada raised their price target on 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 reaffirmed a "buy" rating and set a $13.00 price target on shares of Magnachip Semiconductor in a report on Friday, February 17th.Magnachip Semiconductor Stock Performance
Shares of MX opened at $8.73 on Tuesday. The firm has a market capitalization of $380.10 million, a price-to-earnings ratio of -48.50 and a beta of 0.98. The business's fifty day moving average price is $10.08 and its two-hundred day moving average price is $10.03. Magnachip Semiconductor Co. has a 52 week low of $8.45 and a 52 week high of $20.64. Magnachip Semiconductor Profile (Get Rating)
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.Read MoreGet a free copy of the StockNews.com research report on Magnachip Semiconductor (MX)First Republic Bank Hits New Low, Dimon Pushes for More CashMullen Automotive: Investment? No. Compelling Speculation, Yes GBTC: The One Place to Buy Bitcoin for 58 Cents on the DollarGeneral Mills Retreats To Buy Zone Ahead Of Earnings Foot Locker: Slow And Steady Wins The Race
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