Magnachip Semiconductor (NYSE:MX) Lowered to Sell Rating by Wall Street Zen

Key Points

• Magnachip Semiconductor has been downgraded from a "hold" to a "sell" rating by Wall Street Zen as of Saturday.
• Needham & Company also lowered its price target from $6.00 to $5.50 while maintaining a "buy" rating on the stock.
• Shares of Magnachip have decreased by 27.8%, currently opening at $2.96 with a market capitalization of $106.75 million.

Wall Street Zen downgraded shares of Magnachip Semiconductor (NYSE:MX - Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.

Separately, Needham & Company LLC lowered their price objective on shares of Magnachip Semiconductor from $6.00 to $5.50 and set a "buy" rating for the company in a research report on Friday.

Magnachip Semiconductor Price Performance

Shares of Magnachip Semiconductor stock traded down $1.14 on Friday, hitting $2.96. The company's stock had a trading volume of 1,288,069 shares, compared to its average volume of 229,402. Magnachip Semiconductor has a 52-week low of $2.51 and a 52-week high of $5.73. The company has a quick ratio of 3.83, a current ratio of 4.51 and a debt-to-equity ratio of 0.10. The firm has a fifty day moving average price of $3.94 and a 200-day moving average price of $3.84. The company has a market capitalization of $106.74 million, a P/E ratio of -3.18 and a beta of 0.84.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of MX. Clearline Capital LP boosted its position in shares of Magnachip Semiconductor by 5.5% in the 4th quarter. Clearline Capital LP now owns 1,900,176 shares of the semiconductor company's stock valued at $7,639,000 after purchasing an additional 99,421 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Magnachip Semiconductor by 112.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,458,280 shares of the semiconductor company's stock valued at $5,862,000 after buying an additional 772,085 shares during the last quarter. Millennium Management LLC lifted its holdings in Magnachip Semiconductor by 20.5% in the 4th quarter. Millennium Management LLC now owns 589,984 shares of the semiconductor company's stock worth $2,372,000 after purchasing an additional 100,464 shares during the last quarter. Bridgeway Capital Management LLC lifted its holdings in Magnachip Semiconductor by 10.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 574,451 shares of the semiconductor company's stock worth $2,309,000 after purchasing an additional 55,588 shares during the last quarter. Finally, Kennedy Capital Management LLC lifted its holdings in Magnachip Semiconductor by 1.9% in the 4th quarter. Kennedy Capital Management LLC now owns 383,989 shares of the semiconductor company's stock worth $1,544,000 after purchasing an additional 7,091 shares during the last quarter. 74.26% of the stock is owned by institutional investors and hedge funds.

Magnachip Semiconductor Company Profile

Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications. It provides display solutions, including source and gate drivers, and timing controllers that cover a range of flat panel displays used in mobile communications, automotive, entertainment devices, monitors, notebook PCs, tablet PC and TVs applied with liquid crystal display, organic light emitting diodes (OLED), and micro light emitting diode (Micro LED) panel.