Magnachip Semiconductor (NYSE:MX) Share Price Crosses Above 200 Day Moving Average – Should You Sell?

Shares of Magnachip Semiconductor Corp. (NYSE:MX) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.86 and traded as high as $2.97. Magnachip Semiconductor shares last traded at $2.8250, with a volume of 222,271 shares.

Analyst Upgrades and Downgrades

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

Magnachip Semiconductor Stock Performance

The company has a quick ratio of 3.29, a current ratio of 4.07 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average price of $2.87 and a 200 day moving average price of $2.86. The stock has a market cap of $102.94 million, a P/E ratio of -3.49 and a beta of 1.02.

Magnachip Semiconductor (NYSE:MX) last posted its quarterly earnings data on Wednesday, March 4th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.32) by $0.24. The company had revenue of $40.57 million during the quarter, compared to analysts’ expectations of $40.50 million. Magnachip Semiconductor had a negative return on equity of 4.56% and a negative net margin of 16.62%. As a group, sell-side analysts expect that Magnachip Semiconductor Corp. will post -1.22 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MX. LPL Financial LLC bought a new stake in Magnachip Semiconductor during the 4th quarter valued at about $30,000. Sei Investments Co. bought a new position in Magnachip Semiconductor in the 2nd quarter worth about $61,000. Quadrature Capital Ltd increased its position in shares of Magnachip Semiconductor by 57.0% during the fourth quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company’s stock worth $62,000 after acquiring an additional 8,863 shares during the period. XTX Topco Ltd bought a new stake in shares of Magnachip Semiconductor during the fourth quarter valued at approximately $65,000. Finally, Boothbay Fund Management LLC bought a new stake in shares of Magnachip Semiconductor during the fourth quarter valued at approximately $69,000. Hedge funds and other institutional investors own 74.26% of the company’s stock.

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.