Oaktree Capital Management LP Purchases 725,000 Shares of MagnaChip Semiconductor Corporation (MX)

Oaktree Capital Management LP lifted its position in MagnaChip Semiconductor Corporation (NYSE:MX) by 44.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,340,000 shares of the semiconductor company’s stock after purchasing an additional 725,000 shares during the quarter. Oaktree Capital Management LP owned 6.85% of MagnaChip Semiconductor worth $26,559,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Northern Trust Corp acquired a new position in shares of MagnaChip Semiconductor in the second quarter valued at $111,000. Goldman Sachs Group Inc. acquired a new position in shares of MagnaChip Semiconductor in the second quarter valued at $148,000. Citadel Advisors LLC raised its stake in shares of MagnaChip Semiconductor by 66.9% in the third quarter. Citadel Advisors LLC now owns 15,465 shares of the semiconductor company’s stock valued at $176,000 after purchasing an additional 6,197 shares in the last quarter. Dixon Hubard Feinour & Brown Inc. VA acquired a new position in shares of MagnaChip Semiconductor in the third quarter valued at $193,000. Finally, Silver Capital Management LLC acquired a new position in shares of MagnaChip Semiconductor in the third quarter valued at $434,000. Institutional investors and hedge funds own 89.45% of the company’s stock.

MagnaChip Semiconductor Corporation (NYSE:MX) traded down $0.40 during trading on Thursday, reaching $11.15. The company’s stock had a trading volume of 393,300 shares, compared to its average volume of 452,623. The company has a debt-to-equity ratio of -4.96, a current ratio of 2.42 and a quick ratio of 1.96. MagnaChip Semiconductor Corporation has a 1 year low of $6.00 and a 1 year high of $13.40.

A number of brokerages recently commented on MX. BidaskClub upgraded MagnaChip Semiconductor from a “hold” rating to a “buy” rating in a research note on Friday, August 25th. Zacks Investment Research upgraded MagnaChip Semiconductor from a “hold” rating to a “buy” rating and set a $13.00 target price for the company in a research note on Thursday, August 10th. ValuEngine lowered MagnaChip Semiconductor from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Needham & Company LLC restated a “buy” rating and issued a $15.00 target price on shares of MagnaChip Semiconductor in a research note on Friday, September 8th. Finally, TheStreet lowered MagnaChip Semiconductor from a “c-” rating to a “d” rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $12.67.

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About MagnaChip Semiconductor

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.

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Institutional Ownership by Quarter for MagnaChip Semiconductor (NYSE:MX)

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