CenterBook Partners LP Lowers Position in Magnachip Semiconductor Co. (NYSE:MX) – Defense World
Posted by Defense World Staff on Jun 10th, 2024 
CenterBook Partners LP cut its holdings in Magnachip Semiconductor Co. (NYSE:MX – Free Report) by 22.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 47,847 shares of the semiconductor company’s stock after selling 13,862 shares during the quarter. CenterBook Partners LP owned approximately 0.12% of Magnachip Semiconductor worth $359,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC lifted its position in shares of Magnachip Semiconductor by 808.1% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,496 shares of the semiconductor company’s stock valued at $26,000 after buying an additional 3,111 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Magnachip Semiconductor during the third quarter valued at about $36,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Magnachip Semiconductor by 36.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,248 shares of the semiconductor company’s stock valued at $84,000 after buying an additional 3,024 shares during the last quarter. J.W. Cole Advisors Inc. purchased a new stake in shares of Magnachip Semiconductor during the fourth quarter valued at about $105,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Magnachip Semiconductor during the third quarter valued at about $125,000. 74.26% of the stock is owned by hedge funds and other institutional investors.
Shares of Magnachip Semiconductor stock opened at $4.95 on Monday. The firm has a market capitalization of $189.44 million, a P/E ratio of -6.35 and a beta of 0.75. The company has a quick ratio of 5.05, a current ratio of 5.75 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average price of $5.06 and a 200 day moving average price of $6.06. Magnachip Semiconductor Co. has a 52 week low of $4.70 and a 52 week high of $11.68.
Magnachip Semiconductor (NYSE:MX – Get Free Report) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.30) earnings per share for the quarter, topping the consensus estimate of ($0.38) by $0.08. Magnachip Semiconductor had a negative net margin of 13.76% and a negative return on equity of 8.35%. The company had revenue of $49.07 million for the quarter, compared to the consensus estimate of $48.85 million. Sell-side analysts expect that Magnachip Semiconductor Co. will post -1.29 EPS for the current year.
MX has been the subject of several analyst reports. StockNews.com raised shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, March 9th. Roth Mkm decreased their price objective on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Finally, Needham & Company LLC decreased their price objective on shares of Magnachip Semiconductor from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, May 3rd.
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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.
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