Magnachip Semiconductor (NYSE:MX) Rating Lowered to Sell at Wall Street Zen

Magnachip Semiconductor (NYSE:MX) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 price target on shares of Magnachip Semiconductor in a research note on Tuesday, May 13th.

Magnachip Semiconductor Price Performance

Magnachip Semiconductor stock opened at $3.68 on Thursday. The company has a market cap of $132.54 million, a price-to-earnings ratio of -3.17 and a beta of 0.77. The firm’s fifty day moving average is $3.32 and its 200 day moving average is $3.87. The company has a quick ratio of 4.09, a current ratio of 4.81 and a debt-to-equity ratio of 0.10. Magnachip Semiconductor has a 52-week low of $2.51 and a 52-week high of $5.98.

Hedge Funds Weigh In On Magnachip Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of MX. R Squared Ltd purchased a new position in shares of Magnachip Semiconductor in the 4th quarter worth approximately $32,000. OneDigital Investment Advisors LLC bought a new position in Magnachip Semiconductor during the first quarter valued at $35,000. Hsbc Holdings PLC bought a new position in Magnachip Semiconductor during the fourth quarter valued at $47,000. Jane Street Group LLC bought a new position in Magnachip Semiconductor during the first quarter valued at $115,000. Finally, XTX Topco Ltd bought a new position in Magnachip Semiconductor during the fourth quarter valued at $145,000. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.