Walleye Capital LLC Sells 114,777 Shares of 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 decreased its stake in shares of Magnachip Semiconductor Corp. (NYSE:MX - Free Report) by 88.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund 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.

Several other hedge funds also recently modified their holdings of the stock. American Century Companies Inc. boosted its position in shares of Magnachip Semiconductor by 5.8% during the first quarter. American Century Companies Inc. now owns 72,861 shares of the semiconductor company's stock valued at $250,000 after buying an additional 4,010 shares during the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of Magnachip Semiconductor during the first quarter valued at approximately $35,000. Hsbc Holdings PLC purchased a new position in shares of Magnachip Semiconductor during the fourth quarter valued at approximately $47,000. D. E. Shaw & Co. Inc. boosted its position in shares of Magnachip Semiconductor by 192.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 44,105 shares of the semiconductor company's stock valued at $177,000 after buying an additional 29,023 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its position in shares of Magnachip Semiconductor by 279.7% during the fourth quarter. Cubist Systematic Strategies LLC now owns 49,340 shares of the semiconductor company's stock valued at $198,000 after buying an additional 36,347 shares during the last quarter. Hedge funds and other institutional investors own 74.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MX. Wall Street Zen cut Magnachip Semiconductor from a "hold" rating to a "sell" rating in a research report on Saturday, August 2nd. Needham & Company LLC cut their price objective on Magnachip Semiconductor from $6.00 to $5.50 and set a "buy" rating on the stock in a research report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $5.50.

Magnachip Semiconductor Stock Performance

Shares of MX traded up $0.04 during mid-day trading on Friday, hitting $3.10. The stock had a trading volume of 199,587 shares, compared to its average volume of 249,765. The firm has a market cap of $111.17 million, a P/E ratio of -3.33 and a beta of 0.82. The business has a fifty day moving average price of $3.38 and a 200-day moving average price of $3.54. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.65 and a quick ratio of 3.77. Magnachip Semiconductor Corp. has a 52 week low of $2.51 and a 52 week high of $5.16.

Insider Buying and Selling at Magnachip Semiconductor

In other news, insider Camillo Martino bought 30,000 shares of the stock in a transaction on Friday, August 22nd. The shares were purchased at an average cost of $2.84 per share, for a total transaction of $85,200.00. Following the completion of the purchase, the insider directly owned 259,127 shares in the company, valued at $735,920.68. This represents a 13.09% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Shin Young Park bought 10,000 shares of the stock in a transaction on Monday, August 25th. The stock was purchased at an average price of $2.87 per share, for a total transaction of $28,700.00. Following the completion of the purchase, the insider owned 251,786 shares of the company's stock, valued at approximately $722,625.82. This trade represents a 4.14% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 5.70% of the company's stock.

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.