Magnachip Semiconductor (NYSE:MX) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Magnachip Semiconductor Corp. (NYSE:MX) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.22 and traded as high as $9.77. Magnachip Semiconductor shares last traded at $8.4160, with a volume of 7,785,255 shares traded.

Analyst Ratings Changes

Several research analysts have recently weighed in on MX shares. 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 raised shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Zacks Research downgraded 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 assigned 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 a consensus target price of $5.50.

Magnachip Semiconductor Stock Performance

The firm’s 50-day moving average price is $4.28 and its two-hundred day moving average price is $3.31. The firm has a market capitalization of $324.43 million, a PE ratio of -12.72 and a beta of 1.51. The company has a quick ratio of 1.91, a current ratio of 2.37 and a debt-to-equity ratio of 0.07.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FourWorld Capital Management LLC grew its position in Magnachip Semiconductor by 667.1% during the first quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company’s stock valued at $4,642,000 after purchasing an additional 1,441,593 shares in the last quarter. Renaissance Technologies LLC purchased a new position in Magnachip Semiconductor during the first quarter valued at approximately $99,000. First Wilshire Securities Management Inc. grew its position in Magnachip Semiconductor by 1.5% during the first quarter. First Wilshire Securities Management Inc. now owns 743,953 shares of the semiconductor company’s stock valued at $2,083,000 after purchasing an additional 11,096 shares in the last quarter. Lepercq De Neuflize Asset Management LLC grew its position in Magnachip Semiconductor by 162.3% during the fourth quarter. Lepercq De Neuflize Asset Management LLC now owns 2,694,527 shares of the semiconductor company’s stock valued at $6,871,000 after purchasing an additional 1,667,434 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in Magnachip Semiconductor during the fourth quarter valued at approximately $65,000. 74.26% of the stock is 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.