5 Cash-Rich Small Cap Stocks To Invest In

3. Magnachip Semiconductor Corporation (NSYE:MX)

Number of Hedge Fund Holders: 31

MagnaChip Semiconductor Corporation (NYSE:MX) is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor platform solutions for communications, IoT, consumer, industrial and automotive applications. The company’s EPS estimate for the entirety of 2022 was positive and analysts expect it to remain positive (and significantly higher at $0.36) for the entirety of 2023 as well.

During the third quarter, Magnachip Semiconductor Corporation (NSYE:MX)’s adjusted EPS came in at $0.02, beating estimates by $0.08. For the fourth quarter, Magnachip Semiconductor Corporation (NSYE:MX) said it expects revenue to come in between $57 million to $62 million, versus the consensus estimate of $78.77 million.

At the end of Q3, 31 hedge funds in Insider Monkey’s database had a position in Magnachip Semiconductor Corporation (NYSE:MX). This is compared to 27 funds in the preceding quarter.

Here is what Altron Capital Management has to say about Magnachip Semiconductor Corporation (NYSE:MX) in its Q4 2021 investor letter:

“MagnaChip Semiconductor Corp. (NYSE:MX). While the previous buyout offer from Wise Road Capital did not go through as many expected, the company is still in talks with other potential buyers. Furthermore, the company announced a USD 75 million share buyback, which represents a significant percentage of the company’s shares. While we do not generally enter positions with the anticipation of a buyout, it is the case that a MagnaChip acquisition will be the most likely outcome.”