Magnachip Semiconductor (NYSE:MX) Shares Cross Above 200 Day Moving Average – Should You Sell?

Magnachip Semiconductor Corp. (NYSE:MX)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.05 and traded as high as $5.83. Magnachip Semiconductor shares last traded at $5.5130, with a volume of 2,554,754 shares.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” 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 report on Saturday, May 9th. Finally, Zacks Research cut shares of Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a report on Monday, May 4th. One equities research 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. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $5.50.

Magnachip Semiconductor Stock Down 0.1%

The business’s 50 day moving average is $3.61 and its 200 day moving average is $3.05. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.91 and a current ratio of 2.37. The stock has a market cap of $200.89 million, a price-to-earnings ratio of -7.88 and a beta of 1.00.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported ($0.11) EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $46.00 million.

Hedge Funds Weigh In On Magnachip Semiconductor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Lepercq De Neuflize Asset Management LLC boosted its stake in 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 purchasing an additional 1,667,434 shares during the period. FourWorld Capital Management LLC boosted its stake in Magnachip Semiconductor by 667.1% in the 1st quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company’s stock worth $4,642,000 after purchasing an additional 1,441,593 shares during the period. Ameriprise Financial Inc. lifted its position in Magnachip Semiconductor by 17.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,432,843 shares of the semiconductor company’s stock worth $4,485,000 after buying an additional 208,417 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Magnachip Semiconductor by 47.2% during the 4th quarter. Marshall Wace LLP now owns 1,285,832 shares of the semiconductor company’s stock valued at $3,279,000 after buying an additional 412,098 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Magnachip Semiconductor by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,030,024 shares of the semiconductor company’s stock valued at $3,224,000 after buying an additional 6,519 shares during the period. 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.