Ameriprise Financial Inc. Acquires 772,085 Shares of Magnachip Semiconductor Co. (NYSE:MX)

Ameriprise Financial Inc. boosted its holdings in shares of Magnachip Semiconductor Co. (NYSE:MX - Free Report) by 112.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,458,280 shares of the semiconductor company's stock after buying an additional 772,085 shares during the quarter. Ameriprise Financial Inc. owned approximately 3.92% of Magnachip Semiconductor worth $5,862,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MX. R Squared Ltd bought a new position in shares of Magnachip Semiconductor in the fourth quarter worth approximately $32,000. Hsbc Holdings PLC purchased a new stake in Magnachip Semiconductor during the fourth quarter valued at $47,000. XTX Topco Ltd purchased a new stake in Magnachip Semiconductor during the fourth quarter valued at $145,000. Jump Financial LLC purchased a new stake in Magnachip Semiconductor during the fourth quarter valued at $152,000. Finally, Virtu Financial LLC purchased a new stake in Magnachip Semiconductor during the fourth quarter valued at $243,000. 74.26% of the stock is currently owned by institutional investors.

Magnachip Semiconductor Trading Up 1.7%

Shares of NYSE MX traded up $0.06 during mid-day trading on Thursday, reaching $3.69. The company had a trading volume of 125,117 shares, compared to its average volume of 242,257. The business's 50-day moving average is $3.30 and its 200-day moving average is $3.86. The company has a current ratio of 4.81, a quick ratio of 4.09 and a debt-to-equity ratio of 0.10. The stock has a market cap of $133.08 million, a price-to-earnings ratio of -3.18 and a beta of 0.77. Magnachip Semiconductor Co. has a 52 week low of $2.51 and a 52 week high of $5.98.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on MX shares. Needham & Company LLC reissued a "buy" rating and issued a $6.00 target price on shares of Magnachip Semiconductor in a research note on Tuesday, May 13th. Wall Street Zen downgraded shares of Magnachip Semiconductor from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

About Magnachip Semiconductor

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.