Magnachip Semiconductor (NYSE:MX) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

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 $3.92 and traded as high as $4.04. Magnachip Semiconductor shares last traded at $3.8730, with a volume of 1,449,550 shares changing hands.

Analyst Ratings Changes

MX has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Magnachip Semiconductor in a report on Friday, July 31st. Wall Street Zen raised shares of Magnachip Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 9th. Finally, Zacks Research lowered shares of Magnachip Semiconductor from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Magnachip Semiconductor currently has an average rating of “Reduce”.

Magnachip Semiconductor Price Performance

The stock has a market capitalization of $141.14 million, a P/E ratio of -4.61 and a beta of 1.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.91 and a current ratio of 2.37. The business has a fifty day simple moving average of $4.89 and a 200-day simple moving average of $3.92.

Magnachip Semiconductor (NYSE:MX) last posted its earnings results on Wednesday, July 29th. The semiconductor company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.09. Magnachip Semiconductor had a negative net margin of 17.26% and a negative return on equity of 5.73%. The company had revenue of $44.70 million during the quarter, compared to the consensus estimate of $46.50 million.

Institutional Investors Weigh In On Magnachip Semiconductor

Several large investors have recently made changes to their positions in MX. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new stake in shares of Magnachip Semiconductor during the 2nd quarter worth $54,000. LPL Financial LLC purchased a new stake in Magnachip Semiconductor during the fourth quarter worth about $30,000. Sei Investments Co. bought a new stake in Magnachip Semiconductor in the second quarter worth about $61,000. NewEdge Advisors LLC bought a new stake in Magnachip Semiconductor in the second quarter worth about $74,000. Finally, Quadrature Capital Ltd boosted 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 acquiring an additional 8,863 shares during the last quarter. 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.