Magnachip Semiconductor (NYSE:MX) Stock Passes Above 200 Day Moving Average – Time to Sell?

Magnachip Semiconductor Corp. (NYSE:MX)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.95 and traded as high as $3.11. Magnachip Semiconductor shares last traded at $3.05, with a volume of 329,993 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MX shares. Weiss Ratings reissued a “sell (e+)” rating on shares of Magnachip Semiconductor in a research note on Thursday, January 22nd. Wall Street Zen downgraded shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.50.

Magnachip Semiconductor Price Performance

The stock has a market capitalization of $109.74 million, a P/E ratio of -2.96 and a beta of 1.04. The firm has a fifty day moving average price of $2.84 and a two-hundred day moving average price of $2.95. The company has a quick ratio of 3.50, a current ratio of 4.32 and a debt-to-equity ratio of 0.15.

Institutional Investors Weigh In On Magnachip Semiconductor

A number of hedge funds have recently added to or reduced their stakes in MX. First Wilshire Securities Management Inc. purchased a new stake in shares of Magnachip Semiconductor during the second quarter worth about $1,834,000. Immersion Corp boosted its stake in Magnachip Semiconductor by 8.2% in the 2nd quarter. Immersion Corp now owns 3,213,966 shares of the semiconductor company’s stock worth $12,792,000 after purchasing an additional 243,827 shares during the period. Jump Financial LLC grew its holdings in Magnachip Semiconductor by 80.9% during the 2nd quarter. Jump Financial LLC now owns 69,827 shares of the semiconductor company’s stock valued at $278,000 after buying an additional 31,222 shares in the last quarter. American Century Companies Inc. raised its position in shares of Magnachip Semiconductor by 4.7% during the second quarter. American Century Companies Inc. now owns 76,312 shares of the semiconductor company’s stock valued at $304,000 after buying an additional 3,451 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Magnachip Semiconductor during the first quarter valued at approximately $115,000. 74.26% of the stock is currently owned by hedge funds and other 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.