Magnachip Semiconductor (NYSE:MX) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Magnachip Semiconductor Corp. (NYSE:MX) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Ratings Changes

A number of analysts have commented on MX shares. Wall Street Zen downgraded Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Magnachip Semiconductor in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.50.

Magnachip Semiconductor Price Performance

The company has a 50-day moving average of $2.84 and a two-hundred day moving average of $2.94. 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 stock has a market capitalization of $109.74 million, a PE ratio of -2.96 and a beta of 1.04.

Institutional Trading of Magnachip Semiconductor

Institutional investors have recently made changes to their positions in the stock. Lepercq De Neuflize Asset Management LLC purchased a new position in shares of Magnachip Semiconductor in the 3rd quarter worth $3,215,000. First Wilshire Securities Management Inc. purchased a new stake in shares of Magnachip Semiconductor in the second quarter worth about $1,834,000. Marshall Wace LLP grew its stake in shares of Magnachip Semiconductor by 70.3% in the second quarter. Marshall Wace LLP now owns 699,525 shares of the semiconductor company’s stock valued at $2,784,000 after buying an additional 288,664 shares in the last quarter. Immersion Corp lifted its position in Magnachip Semiconductor by 8.2% during the 2nd quarter. Immersion Corp now owns 3,213,966 shares of the semiconductor company’s stock worth $12,792,000 after acquiring an additional 243,827 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in 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 acquiring an additional 208,417 shares during the period. 74.26% of the stock is owned by hedge funds and other institutional investors.

About Magnachip Semiconductor

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.