Don Morgan’s Brigade Capital Management Acquired Stake in Magnachip Semiconductor Corp

February 14, 2018 - By Winifred Garcia

 Don Morgan's Brigade Capital Management Acquired Stake in Magnachip Semiconductor Corp

Investors sentiment increased to 1.17 in 2017 Q3. Its up 0.17, from 1 in 2017Q2. It is positive, as 9 investors sold MagnaChip Semiconductor Corporation shares while 20 reduced holdings. 19 funds opened positions while 15 raised stakes. 23.94 million shares or 10.33% less from 26.70 million shares in 2017Q2 were reported.

Hood River Cap Mgmt accumulated 1.36% or 1.88 million shares. Federated Invsts Inc Pa owns 146,000 shares. Columbus Circle Investors accumulated 100,809 shares. New York-based D E Shaw has invested 0.01% in MagnaChip Semiconductor Corporation (NYSE:MX). Dixon Hubard Feinour And Brown Va holds 0.06% or 17,000 shares. Royal Bancorporation Of Canada reported 0% of its portfolio in MagnaChip Semiconductor Corporation (NYSE:MX). Wells Fargo And Mn holds 10,777 shares or 0% of its portfolio. Jpmorgan Chase has invested 0% in MagnaChip Semiconductor Corporation (NYSE:MX). Alliancebernstein L P holds 1.42M shares. Granite Point Capital Mgmt Limited Partnership owns 0.15% invested in MagnaChip Semiconductor Corporation (NYSE:MX) for 60,781 shares. Driehaus Cap Mngmt Ltd Liability Corporation accumulated 580,780 shares. Dimensional Fund L P has 494,455 shares for 0% of their portfolio. Northern Tru Corporation holds 0% or 11,078 shares in its portfolio. Columbia Pacific Advsrs Limited Com invested in 40,000 shares. Renaissance Technologies Ltd Liability Com invested in 293,624 shares or 0% of the stock.

Since January 24, 2018, it had 0 insider purchases, and 3 selling transactions for $4.17 million activity. Another trade for 25,294 shares valued at $322,499 was made by Brigade Leveraged Capital Structures Fund Ltd. on Friday, January 26.

The New Don Morgan’s Brigade Capital Management Holding in Magnachip Semiconductor Corp

Brigade Capital Management reported SC 13G/A form with the SEC for Magnachip Semiconductor Corp. Access it here: 000091957418001219. As reported by Don Morgan’s Brigade Capital Management, the filler owns 15.86% or 5,843,507 shares of the Information Technology–company.

Magnachip Semiconductor Corp stake is new for [reportingPerson]. Date of activity: December 31, 2017. This shows Don Morgan’s Brigade Capital Management’s positive view for Magnachip Semiconductor Corp. For a hedge fund managing $17.09 billion in assets and having 92+ 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 Don Morgan’s Brigade Capital Management’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 Infinity 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: Brigade Capital Management Lp, North Run Capital Lp, Springowl Associates Llc, Engaged Capital Llc..

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 13G.

Don Morgan’s Brigade Capital Management website.

The stock decreased 2.17% or $0.2 during the last trading session, reaching $9. About 996,408 shares traded or 90.12% up from the average. MagnaChip Semiconductor Corporation (NYSE:MX) has risen 76.77% since February 14, 2017 and is uptrending. It has outperformed by 60.07% the S&P500.

MagnaChip Semiconductor Corporation designs, makes, and sells analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive, and Internet of Things applications worldwide. The company has market cap of $307.71 million. The firm operates through two divisions, Foundry Services Group, and Standard Products Group. It currently has negative earnings. It provides display solutions, including source and gate drivers and timing controllers that cover a wide range of flat panel displays used in ultra-high definition , high definition (HD), light emitting diode (LED), 3D and OLED televisions and displays, notebooks, and mobile communications and entertainment devices.

MagnaChip Semiconductor Corporation (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 $1500 highest and $5 lowest target. $11.25’s average target is 25.00% above currents $9 stock price. MagnaChip Semi had 15 analyst reports since August 7, 2015 according to SRatingsIntel. Roth Capital initiated it with “Buy” rating and $10 target in Thursday, September 29 report. Roth Capital maintained MagnaChip Semiconductor Corporation (NYSE:MX) rating on Sunday, July 30. Roth Capital has “Buy” rating and $1400 target. The stock of MagnaChip Semiconductor Corporation (NYSE:MX) earned “Neutral” rating by Citigroup on Monday, August 7. Needham maintained the stock with “Buy” rating in Thursday, July 13 report. The stock has “Neutral” rating by Citigroup on Wednesday, May 10. Roth Capital maintained the stock with “Buy” rating in Wednesday, August 30 report. The stock has “Buy” rating by Roth Capital on Wednesday, June 14. The stock has “Buy” rating by Topeka Capital Markets on Thursday, February 18. The stock of MagnaChip Semiconductor Corporation (NYSE:MX) earned “Buy” rating by Topeka Capital Markets on Friday, October 30. The firm has “Buy” rating given on Friday, August 4 by Needham.

More notable recent MagnaChip Semiconductor Corporation (NYSE:MX) news were published by: Prnewswire.com which released: “MagnaChip Reports Fourth Quarter and Full Year 2017 Financial Results” on February 06, 2018, also Prnewswire.com with their article: “Pomerantz LLP and The Rosen Law Firm, PA Announce Proposed Class Action …” published on February 12, 2018, Prnewswire.com published: “MagnaChip to Present at 2018 Needham Growth Conference” on January 16, 2018. More interesting news about MagnaChip Semiconductor Corporation (NYSE:MX) were released by: Fool.com and their article: “Why Shares of MagnaChip Semiconductor Corp. Dropped Today” published on February 07, 2018 as well as Prnewswire.com‘s news article titled: “MagnaChip Offers 2nd-Generation 0.13 Micron BCD Process Technology with High …” with publication date: February 12, 2018.

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