Magnachip Semiconductor (NYSE:MX) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

Key Points

• Magnachip Semiconductor shares moved above their 200-day moving average, trading as high as $3.98 before last changing hands at $3.7350. The stock was also down about 4% on the session.
• Analyst sentiment remains mixed but cautious: recent actions included a downgrade from Zacks Research and rating changes from Weiss Ratings and Wall Street Zen. The current consensus is Hold with a $5.50 price target.
• The company recently beat earnings expectations, reporting EPS of -$0.11 versus an expected -$0.22 on revenue of $46.21 million. Institutional ownership remains high at 74.26%.

Magnachip Semiconductor Corp. (NYSE:MX - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.84 and traded as high as $3.98. Magnachip Semiconductor shares last traded at $3.7350, with a volume of 1,217,336 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MX shares. Weiss Ratings upgraded Magnachip Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a report on Monday, May 4th. Zacks Research downgraded Magnachip Semiconductor from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Finally, Wall Street Zen raised Magnachip Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 9th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $5.50.

Magnachip Semiconductor Trading Down 4.0%

The company has a current ratio of 2.37, a quick ratio of 1.91 and a debt-to-equity ratio of 0.07. The company has a fifty day moving average of $5.35 and a two-hundred day moving average of $3.84. The stock has a market capitalization of $136.10 million, a price-to-earnings ratio of -5.34 and a beta of 1.59.

Magnachip Semiconductor (NYSE:MX - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The semiconductor company reported ($0.11) EPS for the quarter, beating analysts' consensus estimates of ($0.22) by $0.11. Magnachip Semiconductor had a negative net margin of 14.14% and a negative return on equity of 4.68%. The company had revenue of $46.21 million for the quarter, compared to analyst estimates of $46.00 million.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. FourWorld Capital Management LLC boosted its holdings in Magnachip Semiconductor by 667.1% during the first quarter. FourWorld Capital Management LLC now owns 1,657,701 shares of the semiconductor company's stock valued at $4,642,000 after acquiring an additional 1,441,593 shares during the period. Renaissance Technologies LLC bought a new position in shares of Magnachip Semiconductor in the first quarter worth about $99,000. First Wilshire Securities Management Inc. increased its stake in shares of Magnachip Semiconductor by 1.5% in the first quarter. First Wilshire Securities Management Inc. now owns 743,953 shares of the semiconductor company's stock worth $2,083,000 after purchasing an additional 11,096 shares during the period. Lepercq De Neuflize Asset Management LLC lifted its position in shares of 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 purchasing an additional 1,667,434 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Magnachip Semiconductor during the 4th quarter worth about $65,000. 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.

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