Millennium Management LLC Increases Stock Position in Magnachip Semiconductor Co. (NYSE:MX)

Millennium Management LLC lifted its holdings in shares of Magnachip Semiconductor Co. (NYSE:MX - Free Report) by 20.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 589,984 shares of the semiconductor company's stock after purchasing an additional 100,464 shares during the quarter. Millennium Management LLC owned 1.59% of Magnachip Semiconductor worth $2,372,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of MX. R Squared Ltd bought a new position in Magnachip Semiconductor in the fourth quarter valued at $32,000. Hsbc Holdings PLC purchased a new position in shares of Magnachip Semiconductor in the 4th quarter worth about $47,000. XTX Topco Ltd purchased a new position in shares of Magnachip Semiconductor in the 4th quarter worth about $145,000. Jump Financial LLC bought a new position in shares of Magnachip Semiconductor during the 4th quarter valued at about $152,000. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of Magnachip Semiconductor by 192.4% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 74.26% of the company's stock.

Magnachip Semiconductor Trading Up 3.3%

NYSE MX traded up $0.12 during trading on Tuesday, hitting $3.80. 183,861 shares of the company's stock traded hands, compared to its average volume of 242,156. The stock has a fifty day moving average of $3.29 and a two-hundred day 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 12-month low of $2.51 and a 12-month high of $5.98. The firm has a market cap of $137.04 million, a P/E ratio of -3.28 and a beta of 0.77.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MX shares. Wall Street Zen downgraded 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 issued a $6.00 price objective on shares of Magnachip Semiconductor in a report on Tuesday, May 13th.

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.