Magnachip Semiconductor (NYSE:MX) Stock Crosses Below Two Hundred Day Moving Average – Should You Sell?

Magnachip Semiconductor Corp. (NYSE:MX) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.79 and traded as low as $3.75. Magnachip Semiconductor shares last traded at $3.7950, with a volume of 1,521,026 shares.

Analyst Ratings Changes

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

Magnachip Semiconductor Trading Down 8.1%

The stock has a market cap of $138.29 million, a P/E ratio of -5.42 and a beta of 1.59. The firm’s 50 day simple moving average is $5.38 and its two-hundred day simple moving average is $3.79. 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 posted its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) EPS for the quarter, beating the consensus estimate 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 business had revenue of $46.21 million during the quarter, compared to analyst estimates of $46.00 million.

Institutional Trading of Magnachip Semiconductor

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