Magnachip Semiconductor (NYSE:MX) Stock Passes Above 200 Day Moving Average – What’s Next?
by Kim Johansen · The Markets DailyShares of Magnachip Semiconductor Corp. (NYSE:MX – Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Magnachip Semiconductor in a report on Thursday, January 22nd. Zacks Research upgraded shares of Magnachip Semiconductor from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. One investment 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.50.
View Our Latest Stock Report on MX
Magnachip Semiconductor Trading Up 0.5%
The business has a fifty day moving average price of $2.87 and a 200-day moving average price of $2.86. 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 company has a market cap of $104.04 million, a P/E ratio of -3.52 and a beta of 1.02.
Magnachip Semiconductor (NYSE:MX – Get Free Report) last announced its earnings results on Wednesday, March 4th. The semiconductor company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.24. The company had revenue of $40.57 million for the quarter, compared to analyst estimates of $40.50 million. Magnachip Semiconductor had a negative return on equity of 4.56% and a negative net margin of 16.62%. On average, analysts forecast that Magnachip Semiconductor Corp. will post -1.22 earnings per share for the current year.
Institutional Investors Weigh In On Magnachip Semiconductor
Hedge funds and other institutional investors have recently modified their holdings of the company. Lepercq De Neuflize Asset Management LLC grew its stake in shares of Magnachip Semiconductor by 162.3% in the fourth quarter. Lepercq De Neuflize Asset Management LLC now owns 2,694,527 shares of the semiconductor company’s stock valued at $6,871,000 after acquiring an additional 1,667,434 shares in the last quarter. XTX Topco Ltd acquired a new stake in Magnachip Semiconductor in the 4th quarter worth about $65,000. Quadrature Capital Ltd boosted its holdings in Magnachip Semiconductor by 57.0% in the 4th 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 period. Millennium Management LLC boosted its holdings in Magnachip Semiconductor by 13.6% in the 4th quarter. Millennium Management LLC now owns 288,837 shares of the semiconductor company’s stock valued at $737,000 after purchasing an additional 34,582 shares during the period. Finally, Boothbay Fund Management LLC acquired a new position in shares of Magnachip Semiconductor during the 4th quarter worth approximately $69,000. Institutional investors and hedge funds 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.