Magnachip Semiconductor Corp: Glenn W. Welling’s Engaged Capital Llc Bought Stake

July 17, 2017 - By Marguerite Chambers

 Magnachip Semiconductor Corp: Glenn W. Welling's Engaged Capital Llc Bought Stake

Investors sentiment decreased to 0.97 in Q4 2016. Its down 1.15, from 2.12 in 2016Q3. It worsened, as 16 investors sold Magnachip Semiconductor Corp shares while 14 reduced holdings. 13 funds opened positions while 16 raised stakes. 25.65 million shares or 8.71% less from 28.09 million shares in 2016Q3 were reported.

D E Shaw Com Inc reported 0.01% stake. Ancora Advisors Limited Liability accumulated 21,207 shares. 228,131 were reported by Renaissance Tech. Springowl Associate Ltd Llc reported 0.83% stake. Legal & General Gp Public Limited Co holds 0% or 8,000 shares. Royal Commercial Bank Of Canada reported 0% in Magnachip Semiconductor Corp (NYSE:MX). Dimensional Fund Advsr L P reported 573,532 shares. Hutchin Hill Cap L P, New York-based fund reported 50,100 shares. Manufacturers Life Communication The has invested 0.01% in Magnachip Semiconductor Corp (NYSE:MX). 4,016 were accumulated by Blackrock Institutional Na. Goldman Sachs Gru Inc reported 0% of its portfolio in Magnachip Semiconductor Corp (NYSE:MX). Hollencrest Securities Llc holds 0.09% of its portfolio in Magnachip Semiconductor Corp (NYSE:MX) for 100,400 shares. The Germany-based Deutsche Fincl Bank Ag has invested 0% in Magnachip Semiconductor Corp (NYSE:MX). Connor Clark And Lunn Mgmt Ltd has invested 0.02% in Magnachip Semiconductor Corp (NYSE:MX). Two Sigma Secs Limited Liability invested 0.03% in Magnachip Semiconductor Corp (NYSE:MX).

Since February 15, 2017, it had 1 insider purchase, and 0 selling transactions for $59,560 activity. MARTINO CAMILLO also bought $59,560 worth of Magnachip Semiconductor Corp (NYSE:MX) shares.

The New Glenn W. Welling’s Engaged Capital Llc Holding in Magnachip Semiconductor Corp

Engaged Capital Llc reported SC 13D/A form with the SEC for Magnachip Semiconductor Corp. Access it here: 000092189517001925. As reported by Glenn W. Welling’s Engaged Capital Llc, the filler owns 6.1% or 2,107,005 shares of the Information Technology–company.

Magnachip Semiconductor Corp stake is new for [reportingPerson]. Date of activity: July 13, 2017. This shows Glenn W. Welling’s Engaged Capital Llc’s positive view for Magnachip Semiconductor Corp. For a hedge fund managing $194.47 million in assets and having 9+ experts this is interesting position.

The hedge fund is investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Glenn W. Welling’s Engaged Capital Llc’s portfolio is in the sector.

Magnachip Semiconductor Corp Institutional Sentiment

Filings show 55 investors own Magnachip Semiconductor Corp. The ownership in Q3 2015 is high, at 88.83 % of the outstanding shares. This is increased by 3211242. 30165638 were owned by these investors. 19 funds opened new Magnachip Semiconductor Corp stakes, 11 increased positions. There were 16 that closed positions and 19 reduced them.

3 investors had the stock in their top 10. Some are: Engaged Capital Llc, Lasry Marc, Brigade Capital Management Lp, North Run Capital Lp..

Andrew Wallach And Jason Ader Springowl Associates Llc is an investor bullish on Magnachip Semiconductor Corp, owning 140200 shares as of Q3 2015 for 3.28% of its portfolio. Don Morgan Brigade Capital Management Lp owns 2386086 shares or 1.93% of its portfolio. CA Engaged Capital Llc have 9.22% of its portfolio for 2438792 shares. Further, Lasry Marc reported stake worth 4.30% of its portfolio. The NY Pleasant Lake Partners Llc owns 3419817 shares. Magnachip Semiconductor Corp is 11.98% of its portfolio.

Business Profile

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. The Company has two segments: Foundry Services Group and Standard Products Group. The Company’s Foundry Services Group provides analog and mixed-signal foundry services to semiconductor companies and Integrated Device Manufacturers (IDMs) that serve consumer, computing, communication, industrial, automotive and IoT applications. The Company manufactures wafers-based on its customers’ product designs. The Company’s Standard Products Group includes its Display Solutions and Power Solutions business lines.

SEC Form 13D.

Glenn W. Welling’s Engaged Capital Llc website.

Analysts expect Magnachip Semiconductor Corp (NYSE:MX) to report $-0.01 EPS on August, 2.They anticipate $0.07 EPS change or 87.50 % from last quarter’s $-0.08 EPS. After having $-0.01 EPS previously, Magnachip Semiconductor Corp’s analysts see 0.00 % EPS growth.

It closed at $11 lastly. It is up 76.77% since July 18, 2016 and is uptrending. It has outperformed by 60.07% the S&P500.

MagnaChip Semiconductor Corporation is a designer and maker of analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of Things applications. The company has market cap of $438.95 million. The Firm provides technology platforms for analog, mixed signal, power, high voltage, non-volatile memory and Radio Frequency (RF) applications. It currently has negative earnings. The Firm has two divisions: Foundry Services Group and Standard Products Group.

Magnachip Semiconductor Corp (NYSE:MX) Ratings Coverage

Among 5 analysts covering MagnaChip Semi (NYSE:MX), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. MagnaChip Semi has $14 highest and $5 lowest target. $10’s average target is -9.09% below currents $11 stock price. MagnaChip Semi had 10 analyst reports since August 7, 2015 according to SRatingsIntel. Topeka Capital Markets maintained the stock with “Buy” rating in Friday, August 7 report. Roth Capital initiated it with “Buy” rating and $10 target in Thursday, September 29 report. Citigroup initiated the stock with “Neutral” rating in Wednesday, May 10 report. Topeka Capital Markets maintained Magnachip Semiconductor Corp (NYSE:MX) on Friday, October 30 with “Buy” rating. The stock of Magnachip Semiconductor Corp (NYSE:MX) earned “Buy” rating by Needham on Thursday, July 13. On Thursday, September 29 the stock rating was initiated by TH Capital with “Buy”. Topeka Capital Markets maintained Magnachip Semiconductor Corp (NYSE:MX) on Friday, May 6 with “Buy” rating. Roth Capital maintained Magnachip Semiconductor Corp (NYSE:MX) on Wednesday, June 14 with “Buy” rating. As per Thursday, February 18, the company rating was maintained by Topeka Capital Markets. The firm earned “Buy” rating on Friday, January 13 by Needham.

More notable recent Magnachip Semiconductor Corp (NYSE:MX) news were published by: Prnewswire.com which released: “MagnaChip to Offer 0.13 micron BCD Process Technology with High-Density …” on June 19, 2017, also Prnewswire.com with their article: “MagnaChip Selected as Foundry Partner by ELAN Microelectronics For World’s …” published on July 17, 2017, Electroiq.com published: “MagnaChip and ELAN Microelectronics announce partnership” on July 17, 2017. More interesting news about Magnachip Semiconductor Corp (NYSE:MX) were released by: Fool.com and their article: “Why MagnaChip Semiconductor Corp. Stock Popped Today” published on May 04, 2017 as well as Zacks.com‘s news article titled: “MagnaChip Semiconductor (MX) Catches Eye: Stock Rises 5.3% July 14, 2017” with publication date: July 12, 2017.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.