Systematic Financial Management LP Sells 132,942 Shares of Magnachip Semiconductor Co. (NYSE:MX)

Systematic Financial Management LP reduced its stake in Magnachip Semiconductor Co. (NYSE:MX - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,965,015 shares of the semiconductor company's stock after selling 132,942 shares during the period. Systematic Financial Management LP owned approximately 5.28% of Magnachip Semiconductor worth $7,899,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in shares of Magnachip Semiconductor by 112.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,458,280 shares of the semiconductor company's stock valued at $5,862,000 after purchasing an additional 772,085 shares in the last quarter. Millennium Management LLC increased its stake in Magnachip Semiconductor by 20.5% during the 4th quarter. Millennium Management LLC now owns 589,984 shares of the semiconductor company's stock valued at $2,372,000 after buying an additional 100,464 shares during the period. Clearline Capital LP boosted its holdings in shares of Magnachip Semiconductor by 5.5% in the fourth quarter. Clearline Capital LP now owns 1,900,176 shares of the semiconductor company's stock valued at $7,639,000 after acquiring an additional 99,421 shares in the last quarter. Marshall Wace LLP increased its stake 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 valued at $927,000 after acquiring an additional 88,223 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in Magnachip Semiconductor by 61.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 165,552 shares of the semiconductor company's stock worth $666,000 after purchasing an additional 63,175 shares during the period. 74.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on MX. Needham & Company LLC reaffirmed a "buy" rating and issued a $6.00 target price on shares of Magnachip Semiconductor in a research report on Tuesday, May 13th. Wall Street Zen cut shares of Magnachip Semiconductor from a "hold" rating to a "sell" rating in a report on Thursday.

Magnachip Semiconductor Price Performance

Shares of MX traded down $0.21 during mid-day trading on Friday, reaching $3.71. The company had a trading volume of 66,914 shares, compared to its average volume of 241,135. The company's 50-day moving average is $3.33 and its 200-day moving average is $3.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.81 and a quick ratio of 4.09. The company has a market capitalization of $133.62 million, a P/E ratio of -3.19 and a beta of 0.77. Magnachip Semiconductor Co. has a twelve month low of $2.51 and a twelve month high of $5.98.

About Magnachip Semiconductor

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.