Indus Capital Partners Lowers stake in Magnachip Semiconductor Corp (MX)

Magnachip Semiconductor Corp (MX) : Indus Capital Partners reduced its stake in Magnachip Semiconductor Corp by 34.32% during the most recent quarter end. The investment management company now holds a total of 879,348 shares of Magnachip Semiconductor Corp which is valued at $4.4 Million after selling 459,536 shares in Magnachip Semiconductor Corp , the firm said in a disclosure report filed with the SEC on May 13, 2016.Magnachip Semiconductor Corp makes up approximately 0.63% of Indus Capital Partners’s portfolio.

Other Hedge Funds, Including , Citadel Advisors sold out all of its stake in MX during the most recent quarter. The investment firm sold 13,274 shares of MX which is valued $65,972. Smith Moore added MX to its portfolio by purchasing 13,000 company shares during the most recent quarter which is valued at $64,610. Magnachip Semiconductor Corp makes up approx 0.03% of Smith Moore’s portfolio.Cypress Funds boosted its stake in MX in the latest quarter, The investment management firm added 48,003 additional shares and now holds a total of 2,209,114 shares of Magnachip Semiconductor Corp which is valued at $11 Million. Magnachip Semiconductor Corp makes up approx 3.16% of Cypress Funds’s portfolio. Manufacturers Life Insurance Company The added MX to its portfolio by purchasing 771,518 company shares during the most recent quarter which is valued at $3.8 Million. Magnachip Semiconductor Corp makes up approx 0.01% of Manufacturers Life Insurance Company The’s portfolio.

Magnachip Semiconductor Corp opened for trading at $5.18 and hit $5.2 on the upside on Wednesday, eventually ending the session at $5.13, with a gain of 0.59% or 0.03 points. The heightened volatility saw the trading volume jump to 1,88,031 shares. Company has a market cap of $178 M.

Many Wall Street Analysts have commented on Magnachip Semiconductor Corp. Company shares were Reiterated by Topeka Capital Markets on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 6 from a previous price target of $5 .Shares were Reiterated by Topeka Capital Markets on Feb 18, 2016 to “Buy” and Lowered the Price Target to $ 5 from a previous price target of $8 .

MagnaChip Semiconductor Corporation is a holding company which 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 operates through three business lines: Display Solutions Power Solutions and Semiconductor Manufacturing Services. Its Display Solutions products provide flat panel display solutions to suppliers of large and small flat panel display and include MagnaChip sensor products for mobile applications and industrial applications. The Company’s Power Solutions products include modules and integrated circuit solutions for power management in consumer computing communication and industrial applications. Its Semiconductor Manufacturing Services provide analog and mixed-signal foundry services mainly for fabless and certain integrated device manufacturer (IDM) semiconductor companies.

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