Magnachip Semiconductor (NYSE:MX) Share Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Magnachip Semiconductor Corp. (NYSE:MX) crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $2.89 and traded as high as $3.09. Magnachip Semiconductor shares last traded at $3.0280, with a volume of 202,903 shares changing hands.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Magnachip Semiconductor in a report on Thursday, January 22nd. Wall Street Zen cut shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Magnachip Semiconductor has a consensus rating of “Hold” and a consensus price target of $5.50.

Magnachip Semiconductor Price Performance

The firm has a market capitalization of $108.95 million, a P/E ratio of -2.94 and a beta of 1.03. The business’s 50-day simple moving average is $2.85 and its 200 day simple moving average is $2.89. The company has a quick ratio of 3.50, a current ratio of 4.32 and a debt-to-equity ratio of 0.15.

Institutional Investors Weigh In On Magnachip Semiconductor

Several institutional investors have recently bought and sold shares of MX. Marshall Wace LLP increased its stake in Magnachip Semiconductor by 47.2% in the 4th quarter. Marshall Wace LLP now owns 1,285,832 shares of the semiconductor company’s stock worth $3,279,000 after purchasing an additional 412,098 shares during the period. First Wilshire Securities Management Inc. grew its holdings in shares of Magnachip Semiconductor by 53.8% in the fourth quarter. First Wilshire Securities Management Inc. now owns 732,857 shares of the semiconductor company’s stock worth $1,869,000 after purchasing an additional 256,211 shares during the last quarter. Potomac Capital Management Inc. purchased a new position in shares of Magnachip Semiconductor in the fourth quarter worth $987,000. LPL Financial LLC bought a new stake in Magnachip Semiconductor during the 4th quarter valued at $30,000. Finally, Eurizon Capital SGR S.p.A. bought a new stake in Magnachip Semiconductor during the 4th quarter valued at $178,000. 74.26% of the stock is currently owned by hedge funds and other institutional investors.

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.