Walleye Capital LLC Cuts Stake in Magnachip Semiconductor Corp. $MX

Key Points

• Walleye Capital LLC has significantly reduced its stake in Magnachip Semiconductor Corp. by 88.5%, holding only 14,986 shares valued at $51,000 after selling 114,777 shares.
• Recent transactions indicate insider purchases, with Camillo Martino acquiring 30,000 shares and Shin Young Park buying 10,000 shares, reflecting confidence in the company despite the stock's recent performance.
• Analysts have mixed views on the stock, with one report lowering the rating from "hold" to "sell" while another maintains a "moderate buy" rating with a price target of $5.50.

Walleye Capital LLC lowered its holdings in Magnachip Semiconductor Corp. (NYSE:MX - Free Report) by 88.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,986 shares of the semiconductor company's stock after selling 114,777 shares during the period. Walleye Capital LLC's holdings in Magnachip Semiconductor were worth $51,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. OneDigital Investment Advisors LLC bought a new stake in shares of Magnachip Semiconductor during the 1st quarter worth approximately $35,000. Hsbc Holdings PLC bought a new position in Magnachip Semiconductor in the 4th quarter valued at approximately $47,000. D. E. Shaw & Co. Inc. lifted its stake in Magnachip Semiconductor by 192.4% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 44,105 shares of the semiconductor company's stock valued at $177,000 after purchasing an additional 29,023 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in Magnachip Semiconductor by 279.7% in the 4th quarter. Cubist Systematic Strategies LLC now owns 49,340 shares of the semiconductor company's stock valued at $198,000 after acquiring an additional 36,347 shares during the period. Finally, American Century Companies Inc. increased its position in Magnachip Semiconductor by 5.8% in the 1st quarter. American Century Companies Inc. now owns 72,861 shares of the semiconductor company's stock valued at $250,000 after acquiring an additional 4,010 shares during the period. Institutional investors own 74.26% of the company's stock.

Analysts Set New Price Targets

MX has been the subject of several recent research reports. Needham & Company LLC decreased their price target on shares of Magnachip Semiconductor from $6.00 to $5.50 and set a "buy" rating for the company in a research report on Friday, August 1st. Wall Street Zen cut shares of Magnachip Semiconductor from a "hold" rating to a "sell" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $5.50.

Magnachip Semiconductor Stock Performance

MX stock remained flat at $3.02 during mid-day trading on Tuesday. 173,243 shares of the company's stock traded hands, compared to its average volume of 314,236. The stock has a market cap of $108.48 million, a price-to-earnings ratio of -3.25 and a beta of 0.82. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.77 and a current ratio of 4.65. Magnachip Semiconductor Corp. has a twelve month low of $2.51 and a twelve month high of $5.16. The firm's 50 day moving average is $3.44 and its two-hundred day moving average is $3.57.

Insider Activity at Magnachip Semiconductor

In other Magnachip Semiconductor news, insider Camillo Martino acquired 30,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was bought at an average cost of $2.84 per share, with a total value of $85,200.00. Following the acquisition, the insider owned 259,127 shares in the company, valued at approximately $735,920.68. This represents a 13.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Shin Young Park acquired 10,000 shares of Magnachip Semiconductor stock in a transaction that occurred on Monday, August 25th. The shares were purchased at an average cost of $2.87 per share, with a total value of $28,700.00. Following the purchase, the insider owned 251,786 shares of the company's stock, valued at $722,625.82. This represents a 4.14% increase in their position. The disclosure for this purchase can be found here. 5.70% of the stock is currently owned by company insiders.

Magnachip Semiconductor 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.