Magnachip Semiconductor (NYSE:MX) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Shares of Magnachip Semiconductor Corp. (NYSE:MX) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.84 and traded as high as $3.98. Magnachip Semiconductor shares last traded at $3.7350, with a volume of 1,217,336 shares traded.

Analysts Set New Price Targets

MX has been the topic of a number of research reports. Weiss Ratings raised shares of Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research lowered shares of Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One equities research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $5.50.

Magnachip Semiconductor Trading Down 4.0%

The business has a 50-day moving average price of $5.35 and a 200-day moving average price of $3.84. The company has a quick ratio of 1.91, a current ratio of 2.37 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $136.10 million, a P/E ratio of -5.34 and a beta of 1.59.

Magnachip Semiconductor (NYSE:MX) last issued its earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.11. Magnachip Semiconductor had a negative return on equity of 4.68% and a negative net margin of 14.14%.The firm had revenue of $46.21 million during the quarter, compared to analysts’ expectations of $46.00 million.

Institutional Trading of Magnachip Semiconductor

Several institutional investors have recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in Magnachip Semiconductor by 4.7% in the second quarter. American Century Companies Inc. now owns 76,312 shares of the semiconductor company’s stock worth $304,000 after purchasing an additional 3,451 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Magnachip Semiconductor by 1.9% in the third quarter. BNP Paribas Financial Markets now owns 315,732 shares of the semiconductor company’s stock valued at $988,000 after buying an additional 5,764 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Magnachip Semiconductor by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,030,024 shares of the semiconductor company’s stock valued at $3,224,000 after buying an additional 6,519 shares during the last quarter. Engineers Gate Manager LP lifted its position in Magnachip Semiconductor by 15.4% during the 2nd quarter. Engineers Gate Manager LP now owns 59,648 shares of the semiconductor company’s stock worth $237,000 after buying an additional 7,941 shares in the last quarter. Finally, Quadrature Capital Ltd grew its holdings in Magnachip Semiconductor by 57.0% during the 4th quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 8,863 shares during the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.

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.