Magnachip Semiconductor (NYSE:MX) Stock Rating Upgraded by StockNews.com

Magnachip Semiconductor (NYSE:MX) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

Magnachip Semiconductor Trading Down 3.6 %

NYSE:MX traded down $0.15 on Thursday, reaching $4.02. 126,975 shares of the stock traded hands, compared to its average volume of 139,675. The company has a current ratio of 4.81, a quick ratio of 4.09 and a debt-to-equity ratio of 0.10. Magnachip Semiconductor has a 1-year low of $3.56 and a 1-year high of $7.32. The company’s 50 day moving average is $4.01 and its 200-day moving average is $4.54. The firm has a market capitalization of $149.56 million, a price-to-earnings ratio of -3.47 and a beta of 0.64.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Magnachip Semiconductor during the 3rd quarter valued at about $29,000. Canandaigua National Bank & Trust Co. bought a new position in shares of Magnachip Semiconductor during the 4th quarter worth approximately $70,000. Algert Global LLC grew its position in shares of Magnachip Semiconductor by 15.0% during the 2nd quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock worth $92,000 after buying an additional 2,470 shares during the period. American Century Companies Inc. grew its position in shares of Magnachip Semiconductor by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 57,173 shares of the semiconductor company’s stock worth $278,000 after buying an additional 6,777 shares during the period. Finally, 272 Capital LP lifted its position in shares of Magnachip Semiconductor by 141.6% during the 3rd quarter. 272 Capital LP now owns 91,740 shares of the semiconductor company’s stock valued at $428,000 after acquiring an additional 53,774 shares during the period. 74.26% of the stock is owned by institutional investors.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.