Citizens Financial Group Inc. RI acquired a new stake in shares of Magnachip Semiconductor Co. (NYSE:MX – Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,000 shares of the semiconductor company’s stock, valued at approximately $89,000.
Other hedge funds also recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake 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 purchasing an additional 3,111 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Magnachip Semiconductor by 177.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 2,994 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew 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 worth $84,000 after buying an additional 3,024 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new stake in shares of Magnachip Semiconductor during the fourth quarter worth approximately $105,000. Finally, Quest Partners LLC acquired a new stake in shares of Magnachip Semiconductor during the fourth quarter worth approximately $114,000. Hedge funds and other institutional investors own 74.26% of the company’s stock.
Magnachip Semiconductor Stock Performance
Magnachip Semiconductor stock opened at $5.56 on Friday. The company has a quick ratio of 5.05, a current ratio of 5.75 and a debt-to-equity ratio of 0.09. Magnachip Semiconductor Co. has a 12 month low of $4.70 and a 12 month high of $9.51. The company has a fifty day moving average price of $4.98 and a two-hundred day moving average price of $5.47.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Needham & Company LLC decreased their price target on shares of Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday. 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 report on Friday, May 3rd.
Check Out Our Latest Stock Analysis on Magnachip Semiconductor
Magnachip Semiconductor Company 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.
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