Magnachip Semiconductor (NYSE:MX) Stock Crosses Above 200-Day Moving Average – Time to Sell?

Shares of Magnachip Semiconductor Corp. (NYSE:MX) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.85 and traded as high as $2.88. Magnachip Semiconductor shares last traded at $2.8550, with a volume of 181,454 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MX shares. Weiss Ratings restated a “sell (e+)” rating on shares of Magnachip Semiconductor in a research note on Thursday, January 22nd. Zacks Research upgraded shares of Magnachip Semiconductor from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $5.50.

Magnachip Semiconductor Stock Down 0.2%

The firm has a market capitalization of $104.04 million, a price-to-earnings ratio of -3.52 and a beta of 0.87. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.07 and a quick ratio of 3.29. The business has a fifty day moving average price of $2.84 and a two-hundred day moving average price of $2.85.

Magnachip Semiconductor (NYSE:MX) last released its earnings results on Wednesday, March 4th. The semiconductor company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.24. Magnachip Semiconductor had a negative return on equity of 4.56% and a negative net margin of 16.62%.The firm had revenue of $40.57 million during the quarter, compared to the consensus estimate of $40.50 million. On average, equities analysts expect that Magnachip Semiconductor Corp. will post -1.22 earnings per share for the current year.

Institutional Trading of Magnachip Semiconductor

Large investors have recently made changes to their positions in the business. Lepercq De Neuflize Asset Management LLC raised its holdings in shares of Magnachip Semiconductor by 162.3% during the fourth 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 last quarter. XTX Topco Ltd purchased a new stake in Magnachip Semiconductor in the fourth quarter valued at $65,000. Quadrature Capital Ltd boosted its holdings in Magnachip Semiconductor by 57.0% in the fourth quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company’s stock valued at $62,000 after purchasing an additional 8,863 shares during the last quarter. Millennium Management LLC grew its position in Magnachip Semiconductor by 13.6% during the 4th quarter. Millennium Management LLC now owns 288,837 shares of the semiconductor company’s stock worth $737,000 after purchasing an additional 34,582 shares during the period. Finally, Boothbay Fund Management LLC acquired a new stake in Magnachip Semiconductor during the 4th quarter worth about $69,000. 74.26% of the stock is owned by hedge funds and other institutional investors.

About Magnachip Semiconductor

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.