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

Magnachip Semiconductor Corp. (NYSE:MX)’s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Analysts Set New Price Targets

MX has been the subject of several analyst reports. Zacks Research cut Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. Wall Street Zen upgraded shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, Weiss Ratings upgraded shares of Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Magnachip Semiconductor has an average rating of “Hold” and a consensus target price of $5.50.

Magnachip Semiconductor Stock Performance

The stock has a market cap of $124.84 million, a price-to-earnings ratio of -4.89 and a beta of 1.59. 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 company has a 50 day simple moving average of $5.34 and a 200 day simple moving average of $3.84.

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

Institutional Investors Weigh In On Magnachip Semiconductor

Several hedge funds have recently modified their holdings of MX. LPL Financial LLC acquired a new position in shares of Magnachip Semiconductor in the fourth quarter valued at approximately $30,000. Sei Investments Co. acquired a new stake in Magnachip Semiconductor during the 2nd quarter worth approximately $61,000. 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. XTX Topco Ltd acquired a new position in Magnachip Semiconductor in the 4th quarter valued at approximately $65,000. Finally, Boothbay Fund Management LLC acquired a new position in Magnachip Semiconductor in the 4th quarter valued at approximately $69,000. Institutional investors and hedge funds own 74.26% of the company’s stock.

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.