Magnachip Semiconductor (NYSE:MX) Share Price Crosses Above 200 Day Moving Average – Time to Sell?

Magnachip Semiconductor Corp. (NYSE:MX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.03 and traded as high as $3.16. Magnachip Semiconductor shares last traded at $3.0050, with a volume of 243,459 shares trading hands.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on MX. Weiss Ratings restated a “sell (e+)” rating on shares of Magnachip Semiconductor in a research note on Wednesday, October 8th. Wall Street Zen lowered Magnachip Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.50.

Magnachip Semiconductor Stock Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 4.32 and a quick ratio of 3.50. The firm has a market cap of $108.12 million, a P/E ratio of -2.92 and a beta of 0.97. The stock’s 50 day moving average is $2.74 and its two-hundred day moving average is $3.03.

Magnachip Semiconductor (NYSE:MX) last announced its quarterly earnings results on Monday, November 3rd. The semiconductor company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.07. The firm had revenue of $45.95 million during the quarter, compared to analysts’ expectations of $46.00 million. Magnachip Semiconductor had a negative net margin of 18.84% and a negative return on equity of 2.93%. As a group, equities analysts predict that Magnachip Semiconductor Corp. will post -1.22 EPS for the current year.

Institutional Trading of Magnachip Semiconductor

A number of large investors have recently bought and sold shares of MX. Centiva Capital LP acquired a new position in Magnachip Semiconductor during the third quarter worth $237,000. Algert Global LLC grew its holdings in shares of Magnachip Semiconductor by 44.7% in the 3rd quarter. Algert Global LLC now owns 29,455 shares of the semiconductor company’s stock worth $92,000 after purchasing an additional 9,100 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Magnachip Semiconductor by 17.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,432,843 shares of the semiconductor company’s stock worth $4,485,000 after purchasing an additional 208,417 shares during the last quarter. Bridgeway Capital Management LLC increased its position in shares of Magnachip Semiconductor by 11.9% during the 3rd quarter. Bridgeway Capital Management LLC now owns 488,895 shares of the semiconductor company’s stock worth $1,530,000 after purchasing an additional 52,000 shares in the last quarter. Finally, Kennedy Capital Management LLC lifted its holdings in Magnachip Semiconductor by 63.4% during the 3rd quarter. Kennedy Capital Management LLC now owns 105,551 shares of the semiconductor company’s stock valued at $330,000 after purchasing an additional 40,959 shares during the last quarter. 74.26% of the stock is currently owned by institutional investors.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Inc is a fabless semiconductor company specializing in high-performance analog and mixed-signal solutions for the display, power management and lighting markets. Its core product portfolio includes display driver ICs for LCD and OLED panels, high-voltage MOSFETs, DC-DC converters, LED driver ICs and power management devices used in consumer electronics, mobile devices, industrial equipment and automotive applications.

Founded in 2004 as a spin-off from MagnaChip, Magnachip is incorporated in the United States with design and sales offices strategically located across North America, Europe and Asia.