Magnachip Semiconductor (NYSE:MX) Stock Passes Below 200-Day Moving Average – Here’s Why

Magnachip Semiconductor Corp. (NYSE:MX)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $3.79 and traded as low as $3.75. Magnachip Semiconductor shares last traded at $3.7950, with a volume of 1,521,026 shares changing hands.

Wall Street Analysts Forecast Growth

MX has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a research report on Saturday, May 9th. Weiss Ratings raised shares of Magnachip Semiconductor from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Finally, Zacks Research cut shares of Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Magnachip Semiconductor has an average rating of “Hold” and an average target price of $5.50.

Magnachip Semiconductor Stock Up 14.7%

The business has a 50 day moving average of $5.35 and a 200 day moving average of $3.80. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.37 and a quick ratio of 1.91. The firm has a market capitalization of $153.78 million, a price-to-earnings ratio of -6.03 and a beta of 1.59.

Magnachip Semiconductor (NYSE:MX) last issued its earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.11. The firm had revenue of $46.21 million during the quarter, compared to analysts’ expectations of $46.00 million. Magnachip Semiconductor had a negative return on equity of 4.68% and a negative net margin of 14.14%.

Institutional Trading of Magnachip Semiconductor

Institutional investors have recently made changes to their positions in the business. Lepercq De Neuflize Asset Management LLC grew its position in Magnachip Semiconductor by 162.3% during the 4th quarter. Lepercq De Neuflize Asset Management LLC now owns 2,694,527 shares of the semiconductor company’s stock worth $6,871,000 after acquiring an additional 1,667,434 shares during the last quarter. FourWorld Capital Management LLC raised its position in Magnachip Semiconductor by 667.1% in the 1st quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company’s stock valued at $4,642,000 after purchasing an additional 1,441,593 shares during the last quarter. Marshall Wace LLP raised its position 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 valued at $3,279,000 after purchasing an additional 412,098 shares during the last quarter. Potomac Capital Management Inc. acquired a new position in Magnachip Semiconductor in the fourth quarter worth $987,000. Finally, First Wilshire Securities Management Inc. boosted its stake in 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 in the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.

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.