Tabor Asset Management LP Makes New $339,000 Investment in Magnachip Semiconductor Corp. (NYSE:MX)

Tabor Asset Management LP acquired a new stake in Magnachip Semiconductor Corp. (NYSE:MX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 98,700 shares of the semiconductor company's stock, valued at approximately $339,000. Tabor Asset Management LP owned about 0.27% of Magnachip Semiconductor at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in shares of Magnachip Semiconductor by 112.5% during the fourth quarter. Ameriprise Financial Inc. now owns 1,458,280 shares of the semiconductor company's stock valued at $5,862,000 after acquiring an additional 772,085 shares during the last quarter. Millennium Management LLC raised its stake in shares of Magnachip Semiconductor by 20.5% during the fourth quarter. Millennium Management LLC now owns 589,984 shares of the semiconductor company's stock valued at $2,372,000 after acquiring an additional 100,464 shares during the last quarter. Clearline Capital LP raised its stake in shares of Magnachip Semiconductor by 5.5% during 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 during the last quarter. Marshall Wace LLP raised 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 last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Magnachip Semiconductor by 61.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 165,552 shares of the semiconductor company's stock valued at $666,000 after acquiring an additional 63,175 shares during the last quarter. Institutional investors own 74.26% of the company's stock.

Magnachip Semiconductor Trading Up 4.6%

Shares of MX traded up $0.19 during trading hours on Friday, hitting $4.34. 408,911 shares of the stock were exchanged, compared to its average volume of 241,456. Magnachip Semiconductor Corp. has a fifty-two week low of $2.51 and a fifty-two week high of $5.98. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.51 and a quick ratio of 3.83. The business has a 50-day moving average of $3.88 and a 200-day moving average of $3.84. The firm has a market capitalization of $156.50 million, a P/E ratio of -3.39 and a beta of 0.86.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MX shares. Wall Street Zen cut shares of Magnachip Semiconductor from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Needham & Company LLC reiterated a "buy" rating and set a $6.00 price objective on shares of Magnachip Semiconductor in a research 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.