Dimensional Fund Advisors LP Sells 278,753 Shares of Magnachip Semiconductor Corp. $MX

Key Points

• Dimensional Fund Advisors cut its Magnachip Semiconductor stake by 33.7% in the first quarter, selling 278,753 shares and retaining 549,106 shares worth approximately $1.54 million. Institutional investors collectively own 74.26% of MX.
• Analyst sentiment remains cautious: MX carries an average “Reduce” rating, with one analyst rating it Hold and another rating it Sell.
• Magnachip reported a quarterly loss of $0.13 per share, beating the expected $0.22 loss, while revenue of $44.7 million fell short of the $46.5 million consensus estimate. Shares opened at $3.81, with a market capitalization of about $139 million.

Dimensional Fund Advisors LP lessened its position in Magnachip Semiconductor Corp. (NYSE:MX - Free Report) by 33.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 549,106 shares of the semiconductor company's stock after selling 278,753 shares during the period. Dimensional Fund Advisors LP owned about 1.52% of Magnachip Semiconductor worth $1,537,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Lepercq De Neuflize Asset Management LLC increased its holdings in shares of Magnachip Semiconductor by 162.3% in the fourth quarter. Lepercq De Neuflize Asset Management LLC now owns 2,694,527 shares of the semiconductor company's stock worth $6,871,000 after purchasing an additional 1,667,434 shares during the last quarter. Marshall Wace LLP lifted its position in shares of Magnachip Semiconductor by 47.2% in the 4th quarter. Marshall Wace LLP now owns 1,285,832 shares of the semiconductor company's stock worth $3,279,000 after purchasing an additional 412,098 shares during the period. Potomac Capital Management Inc. bought a new position in shares of Magnachip Semiconductor during the 4th quarter worth approximately $987,000. First Wilshire Securities Management Inc. boosted its stake in Magnachip Semiconductor by 53.8% in the 4th quarter. First Wilshire Securities Management Inc. now owns 732,857 shares of the semiconductor company's stock worth $1,869,000 after purchasing an additional 256,211 shares in the last quarter. Finally, FourWorld Capital Management LLC purchased a new position in shares of Magnachip Semiconductor in the fourth quarter worth about $551,000. 74.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MX has been the subject of several recent research reports. Wall Street Zen raised Magnachip Semiconductor from a "sell" rating to a "hold" rating in a report on Saturday, May 9th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Magnachip Semiconductor in a report on Friday, July 31st. Finally, Zacks Research downgraded shares of Magnachip Semiconductor from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Reduce".

Magnachip Semiconductor Stock Performance

Shares of NYSE MX opened at $3.81 on Friday. The company has a current ratio of 2.43, a quick ratio of 1.91 and a debt-to-equity ratio of 0.07. The business has a fifty day simple moving average of $4.36 and a 200 day simple moving average of $3.94. The firm has a market capitalization of $139.29 million, a price-to-earnings ratio of -4.54 and a beta of 1.63. Magnachip Semiconductor Corp. has a one year low of $2.18 and a one year high of $9.86.

Magnachip Semiconductor (NYSE:MX - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.09. Magnachip Semiconductor had a negative net margin of 17.26% and a negative return on equity of 5.84%. The company had revenue of $44.70 million during the quarter, compared to analysts' expectations of $46.50 million.

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.

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