Magnachip Semiconductor (NYSE:MX) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Magnachip Semiconductor Corp. (NYSE:MX) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred 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 changing hands.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of Magnachip Semiconductor in a research report on Thursday, January 22nd. Zacks Research raised shares of Magnachip Semiconductor from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 16th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Magnachip Semiconductor presently has a consensus rating of “Moderate Buy” and a consensus price target of $5.50.

Magnachip Semiconductor Stock Down 0.2%

The stock has a market capitalization of $104.04 million, a P/E ratio of -3.52 and a beta of 0.87. The company has a debt-to-equity ratio of 0.18, a quick ratio of 3.29 and a current ratio of 4.07. The company’s 50-day moving average price is $2.84 and its 200 day moving average price is $2.85.

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

Institutional Trading of Magnachip Semiconductor

Hedge funds and other institutional investors have recently made changes to their positions in the business. LPL Financial LLC acquired a new stake in shares of Magnachip Semiconductor in the 4th quarter worth $30,000. Sei Investments Co. acquired a new position in Magnachip Semiconductor during the 2nd quarter valued at about $61,000. Quadrature Capital Ltd raised its stake 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 buying an additional 8,863 shares during the last quarter. XTX Topco Ltd purchased a new stake in Magnachip Semiconductor in the fourth quarter valued at about $65,000. Finally, Boothbay Fund Management LLC acquired a new stake in Magnachip Semiconductor in the fourth quarter worth about $69,000. Hedge funds and other institutional investors 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.