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

Magnachip Semiconductor Corp. (NYSE:MX)’s stock price passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $3.71 and traded as high as $4.78. Magnachip Semiconductor shares last traded at $4.6790, with a volume of 932,145 shares trading hands.

Analysts Set New Price Targets

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

Magnachip Semiconductor Stock Down 4.7%

The stock has a market cap of $170.50 million, a P/E ratio of -6.68 and a beta of 1.51. The company has a current ratio of 2.37, a quick ratio of 1.91 and a debt-to-equity ratio of 0.07. The stock’s 50-day moving average is $5.32 and its 200-day moving average is $3.71.

Magnachip Semiconductor (NYSE:MX) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) EPS for the quarter, topping 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

A number of institutional investors have recently added to or reduced their stakes in MX. Eurizon Capital SGR S.p.A. bought a new position in Magnachip Semiconductor during the 4th quarter valued at $178,000. Lepercq De Neuflize Asset Management LLC raised its stake in shares of Magnachip Semiconductor by 162.3% in the 4th quarter. Lepercq De Neuflize Asset Management LLC now owns 2,694,527 shares of the semiconductor company’s stock worth $6,871,000 after buying an additional 1,667,434 shares in the last quarter. First Wilshire Securities Management Inc. raised its stake in shares of Magnachip Semiconductor by 53.8% in the 4th quarter. First Wilshire Securities Management Inc. now owns 732,857 shares of the semiconductor company’s stock worth $1,869,000 after buying an additional 256,211 shares in the last quarter. Potomac Capital Management Inc. acquired a new stake in shares of Magnachip Semiconductor in the fourth quarter valued at $987,000. Finally, Algert Global LLC lifted its holdings in shares of Magnachip Semiconductor by 44.7% in the third quarter. Algert Global LLC now owns 29,455 shares of the semiconductor company’s stock valued at $92,000 after buying an additional 9,100 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.