Point72 Asia Singapore Pte. Ltd. Takes $29,000 Position in Magnachip Semiconductor Co. (NYSE:MX)

Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Magnachip Semiconductor Co. (NYSE:MX) in the third quarter, Holdings Channel reports. The firm acquired 6,299 shares of the semiconductor company’s stock, valued at approximately $29,000.

A number of other hedge funds have also recently made changes to their positions in MX. Algert Global LLC raised its holdings in Magnachip Semiconductor by 15.0% in the second quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock worth $92,000 after purchasing an additional 2,470 shares in the last quarter. American Century Companies Inc. grew its position in shares of Magnachip Semiconductor by 13.4% in the 2nd quarter. American Century Companies Inc. now owns 57,173 shares of the semiconductor company’s stock worth $278,000 after buying an additional 6,777 shares during the last quarter. 272 Capital LP grew its position in shares of Magnachip Semiconductor by 141.6% in the 3rd quarter. 272 Capital LP now owns 91,740 shares of the semiconductor company’s stock worth $428,000 after buying an additional 53,774 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Magnachip Semiconductor by 91.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 102,377 shares of the semiconductor company’s stock worth $478,000 after acquiring an additional 48,767 shares in the last quarter. Finally, Bank of Montreal Can purchased a new stake in Magnachip Semiconductor during the second quarter valued at approximately $518,000. 74.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MX shares. Barclays raised shares of Magnachip Semiconductor to a “hold” rating in a report on Tuesday, September 10th. StockNews.com lowered Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st.

Magnachip Semiconductor Trading Down 3.5 %

Shares of Magnachip Semiconductor stock opened at $4.11 on Friday. Magnachip Semiconductor Co. has a 12-month low of $3.56 and a 12-month high of $8.16. The firm’s 50 day simple moving average is $4.34 and its two-hundred day simple moving average is $4.70. The company has a current ratio of 4.81, a quick ratio of 4.09 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $152.89 million, a price-to-earnings ratio of -3.54 and a beta of 0.64.

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.