Ameriprise Financial Inc. Grows Stock Holdings in Magnachip Semiconductor Co. (NYSE:MX)

Ameriprise Financial Inc. increased its position in shares of Magnachip Semiconductor Co. (NYSE:MX - Free Report) by 112.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,458,280 shares of the semiconductor company's stock after buying an additional 772,085 shares during the period. Ameriprise Financial Inc. owned 3.92% of Magnachip Semiconductor worth $5,862,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MX. Hsbc Holdings PLC acquired a new position in shares of Magnachip Semiconductor in the fourth quarter valued at $47,000. Marshall Wace LLP increased its holdings in shares of Magnachip Semiconductor by 62.0% during the fourth quarter. Marshall Wace LLP now owns 230,480 shares of the semiconductor company's stock worth $927,000 after buying an additional 88,223 shares in the last quarter. Jump Financial LLC acquired a new position in shares of Magnachip Semiconductor during the fourth quarter worth $152,000. XTX Topco Ltd acquired a new stake in Magnachip Semiconductor in the fourth quarter valued at $145,000. Finally, Kennedy Capital Management LLC increased its holdings in Magnachip Semiconductor by 1.9% in the fourth quarter. Kennedy Capital Management LLC now owns 383,989 shares of the semiconductor company's stock valued at $1,544,000 after purchasing an additional 7,091 shares during the period. 74.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wall Street Zen cut shares of Magnachip Semiconductor from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Needham & Company LLC restated a "buy" rating and set a $6.00 price target on shares of Magnachip Semiconductor in a research note on Tuesday, May 13th.

Magnachip Semiconductor Price Performance

NYSE:MX traded down $0.02 during trading hours on Thursday, hitting $3.61. The stock had a trading volume of 27,741 shares, compared to its average volume of 241,405. The company has a 50 day simple moving average of $3.30 and a two-hundred day simple moving average of $3.86. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.81 and a quick ratio of 4.09. Magnachip Semiconductor Co. has a one year low of $2.51 and a one year high of $5.98. The firm has a market capitalization of $130.19 million, a price-to-earnings ratio of -3.11 and a beta of 0.77.

Magnachip Semiconductor Company Profile

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.