Deutsche Bank AG Has $392,000 Position in Magnachip (MX)

Deutsche Bank AG increased its holdings in Magnachip (NYSE:MX) by 331.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 39,398 shares of the semiconductor company’s stock after purchasing an additional 30,271 shares during the quarter. Deutsche Bank AG owned approximately 0.12% of Magnachip worth $392,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Alliancebernstein L.P. boosted its position in Magnachip by 53.4% during the fourth quarter. Alliancebernstein L.P. now owns 2,179,244 shares of the semiconductor company’s stock valued at $21,683,000 after acquiring an additional 758,840 shares during the last quarter. Oaktree Capital Management LP boosted its position in Magnachip by 28.2% during the fourth quarter. Oaktree Capital Management LP now owns 3,000,000 shares of the semiconductor company’s stock valued at $29,850,000 after acquiring an additional 660,000 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in Magnachip during the fourth quarter valued at $6,180,000. Evermore Global Advisors LLC raised its holdings in shares of Magnachip by 8.5% during the fourth quarter. Evermore Global Advisors LLC now owns 3,391,839 shares of the semiconductor company’s stock valued at $33,749,000 after purchasing an additional 266,219 shares during the period. Finally, Kavi Asset Management LP acquired a new position in shares of Magnachip during the fourth quarter valued at about $2,228,000. 95.42% of the stock is currently owned by institutional investors.

Shares of NYSE MX opened at $10.85 on Friday. Magnachip has a 1-year low of $10.60 and a 1-year high of $10.80. The stock has a market cap of $367.84 million, a PE ratio of 14.28 and a beta of 0.19. The company has a current ratio of 2.48, a quick ratio of 2.07 and a debt-to-equity ratio of -10.16.

Magnachip (NYSE:MX) last announced its quarterly earnings data on Monday, April 30th. The semiconductor company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.02). Magnachip had a net margin of 6.43% and a negative return on equity of 58.34%. The company had revenue of $165.80 million for the quarter, compared to analyst estimates of $161.00 million. During the same quarter in the prior year, the company posted $0.01 EPS. Magnachip’s revenue for the quarter was up 2.5% on a year-over-year basis. equities analysts anticipate that Magnachip will post 0.58 EPS for the current year.

In other Magnachip news, Director Randal T. Klein bought 5,000 shares of the stock in a transaction that occurred on Wednesday, May 2nd. The shares were bought at an average price of $10.79 per share, for a total transaction of $53,950.00. Following the acquisition, the director now directly owns 10,030 shares of the company’s stock, valued at approximately $108,223.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

MX has been the topic of several research reports. ValuEngine lowered shares of Magnachip from a “buy” rating to a “hold” rating in a report on Thursday, March 1st. TheStreet upgraded shares of Magnachip from a “d” rating to a “c” rating in a report on Wednesday, February 7th. Zacks Investment Research upgraded shares of Magnachip from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 11th. Finally, Citigroup dropped their price objective on shares of Magnachip from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Wednesday, May 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $12.33.

Magnachip Company Profile

MagnaChip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and sells analog and mixed-signal semiconductor platform solutions for communications, Internet of Things, consumer, industrial, and automotive applications. The company operates through two segments, Foundry Services Group and Standard Products Group.

Institutional Ownership by Quarter for Magnachip (NYSE:MX)

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