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

Tabor Asset Management LP purchased a new stake in shares of Magnachip Semiconductor Corp. (NYSE:MX - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 98,700 shares of the semiconductor company's stock, valued at approximately $339,000. Tabor Asset Management LP owned approximately 0.27% of Magnachip Semiconductor as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MX. American Century Companies Inc. raised its stake in Magnachip Semiconductor by 4.8% in the fourth quarter. American Century Companies Inc. now owns 68,851 shares of the semiconductor company's stock worth $277,000 after buying an additional 3,138 shares in the last quarter. Kennedy Capital Management LLC raised its stake in Magnachip Semiconductor by 1.9% in the fourth quarter. Kennedy Capital Management LLC now owns 383,989 shares of the semiconductor company's stock worth $1,544,000 after buying an additional 7,091 shares in the last quarter. OneDigital Investment Advisors LLC bought a new position in Magnachip Semiconductor in the first quarter worth approximately $35,000. Hsbc Holdings PLC bought a new position in Magnachip Semiconductor in the fourth quarter worth approximately $47,000. Finally, D. E. Shaw & Co. Inc. raised its stake in Magnachip Semiconductor by 192.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 44,105 shares of the semiconductor company's stock worth $177,000 after buying an additional 29,023 shares in the last quarter. Institutional investors own 74.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on MX shares. Wall Street Zen raised Magnachip Semiconductor from a "sell" rating to a "hold" rating in a research report on Friday. Needham & Company LLC reaffirmed a "buy" rating and issued a $6.00 price target on shares of Magnachip Semiconductor in a report on Tuesday, May 13th.

Magnachip Semiconductor Price Performance

Magnachip Semiconductor stock traded up $0.08 during midday trading on Monday, reaching $4.40. The company had a trading volume of 122,685 shares, compared to its average volume of 241,231. The company has a market capitalization of $158.70 million, a P/E ratio of -3.45 and a beta of 0.86. Magnachip Semiconductor Corp. has a 12-month low of $2.51 and a 12-month high of $5.98. The firm's fifty day simple moving average is $3.88 and its 200-day simple moving average is $3.84. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.51 and a quick ratio of 3.83.

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.