Magnachip Semiconductor (NYSE:MX) Stock Crosses Above 200-Day Moving Average – Time to Sell?
by Amy Steele · The Cerbat GemShares of Magnachip Semiconductor Corp. (NYSE:MX – Get Free Report) passed above its 200-day moving average during trading on Friday . The stock has a 200-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 trading hands.
Analysts Set New Price Targets
Several research firms recently commented on MX. Zacks Research raised Magnachip Semiconductor from a “hold” rating to a “strong-buy” rating in a report on Monday, March 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Magnachip Semiconductor in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Magnachip Semiconductor presently has an average rating of “Moderate Buy” and an average price target of $5.50.
Read Our Latest Research Report on Magnachip Semiconductor
Magnachip Semiconductor Trading Down 0.2%
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’s 50-day moving average is $2.84 and its 200 day moving average is $2.85. The company has a market cap of $104.04 million, a price-to-earnings ratio of -3.52 and a beta of 0.87.
Magnachip Semiconductor (NYSE:MX – Get Free Report) last issued its quarterly earnings data 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. Magnachip Semiconductor had a negative net margin of 16.62% and a negative return on equity of 4.56%. The business had revenue of $40.57 million during the quarter, compared to the consensus estimate of $40.50 million. Research analysts predict that Magnachip Semiconductor Corp. will post -1.22 EPS for the current year.
Hedge Funds Weigh In On Magnachip Semiconductor
Hedge funds have recently bought and sold shares of the business. LPL Financial LLC purchased a new stake in shares of Magnachip Semiconductor in the fourth quarter valued at approximately $30,000. Sei Investments Co. acquired a new position in shares of Magnachip Semiconductor during the 2nd quarter worth approximately $61,000. NewEdge Advisors LLC purchased a new position in shares of Magnachip Semiconductor during the 2nd quarter valued at approximately $74,000. Quadrature Capital Ltd grew its stake 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 acquiring an additional 8,863 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Magnachip Semiconductor in the 4th quarter valued at $65,000. 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.