Columbia Pacific Advisors LLC cut its holdings in Magnachip (NYSE:MX) by 67.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,824 shares of the semiconductor company’s stock after selling 27,176 shares during the period. Magnachip comprises about 0.2% of Columbia Pacific Advisors LLC’s holdings, making the stock its 27th largest position. Columbia Pacific Advisors LLC’s holdings in Magnachip were worth $128,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of MX. Northern Trust Corp purchased a new position in shares of Magnachip during the second quarter worth about $111,000. Goldman Sachs Group Inc. purchased a new position in shares of Magnachip during the second quarter worth about $148,000. State Street Corp grew its holdings in shares of Magnachip by 1.5% during the second quarter. State Street Corp now owns 40,222 shares of the semiconductor company’s stock worth $394,000 after purchasing an additional 606 shares during the last quarter. Silver Capital Management LLC purchased a new position in shares of Magnachip during the third quarter worth about $434,000. Finally, Russell Investments Group Ltd. purchased a new position in shares of Magnachip during the third quarter worth about $2,723,000. Institutional investors own 95.79% of the company’s stock.
Shares of Magnachip (NYSE MX) opened at $10.05 on Tuesday. Magnachip has a twelve month low of $8.05 and a twelve month high of $13.40. The firm has a market capitalization of $355.71, a P/E ratio of 5.15 and a beta of 0.22. The company has a debt-to-equity ratio of -7.66, a current ratio of 2.39 and a quick ratio of 1.86.
In related news, Director Melvin L. Keating acquired 3,600 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was purchased at an average cost of $9.01 per share, for a total transaction of $32,436.00. Following the transaction, the director now directly owns 24,016 shares of the company’s stock, valued at approximately $216,384.16. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Young-Joon Kim acquired 8,888 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were bought at an average price of $9.15 per share, with a total value of $81,325.20. Following the completion of the transaction, the chief executive officer now directly owns 67,963 shares in the company, valued at $621,861.45. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 20,488 shares of company stock valued at $186,321. Insiders own 3.80% of the company’s stock.
A number of research firms recently issued reports on MX. ValuEngine raised Magnachip from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Needham & Company LLC reissued a “buy” rating and set a $15.00 price target on shares of Magnachip in a report on Wednesday, January 17th. Zacks Investment Research lowered Magnachip from a “hold” rating to a “strong sell” rating in a report on Tuesday, February 13th. Finally, TheStreet raised Magnachip from a “d” rating to a “c” rating in a report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $12.67.
MagnaChip Semiconductor Corporation is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things (IoT) applications. The Company provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications.
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