Magnachip Semiconductor (NYSE:MX) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• Magnachip shares crossed above their 200-day moving average, trading as high as $3.14 and last at $3.0760 versus a 200-day MA of $2.83, with volume around 275,000 shares—a technical bullish signal.
• Analyst views are mixed but tilted positive: MarketBeat shows a consensus of "Moderate Buy" with an average price target of $5.50, highlighted by a recent Zacks upgrade to Strong Buy and a contrasting sell from Weiss Ratings.
• Fundamentals are improving but the company remains unprofitable: Q1 EPS of ($0.08) beat estimates of ($0.32) with revenue of $40.57M, yet Magnachip still posts a negative net margin (-16.62%) and negative ROE; it has low debt (D/E 0.18), strong liquidity (current ratio 4.07), a market cap of ~$112M, and ~74% institutional ownership.

Shares of Magnachip Semiconductor Corp. (NYSE:MX - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.83 and traded as high as $3.14. Magnachip Semiconductor shares last traded at $3.0760, with a volume of 274,852 shares.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Zacks Research upgraded 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 research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $5.50.

Magnachip Semiconductor Trading Up 2.9%

The company has a debt-to-equity ratio of 0.18, a current ratio of 4.07 and a quick ratio of 3.29. The business's 50-day moving average is $2.84 and its two-hundred day moving average is $2.83. The firm has a market cap of $112.09 million, a P/E ratio of -3.80 and a beta of 0.87.

Magnachip Semiconductor (NYSE:MX - Get Free Report) last issued its quarterly earnings results on Wednesday, March 4th. The semiconductor company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.32) by $0.24. The firm had revenue of $40.57 million for the quarter, compared to analysts' expectations of $40.50 million. Magnachip Semiconductor had a negative net margin of 16.62% and a negative return on equity of 4.56%. As a group, analysts predict that Magnachip Semiconductor Corp. will post -1.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Lepercq De Neuflize Asset Management LLC increased 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. Ameriprise Financial Inc. boosted its holdings in shares of Magnachip Semiconductor by 17.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,432,843 shares of the semiconductor company's stock valued at $4,485,000 after buying an additional 208,417 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Magnachip Semiconductor by 47.2% in the fourth quarter. Marshall Wace LLP now owns 1,285,832 shares of the semiconductor company's stock valued at $3,279,000 after buying an additional 412,098 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Magnachip Semiconductor by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,030,024 shares of the semiconductor company's stock valued at $3,224,000 after buying an additional 6,519 shares in the last quarter. Finally, First Wilshire Securities Management Inc. increased its holdings in Magnachip Semiconductor by 53.8% during the fourth quarter. First Wilshire Securities Management Inc. now owns 732,857 shares of the semiconductor company's stock worth $1,869,000 after buying an additional 256,211 shares during the last quarter. 74.26% of the stock is currently owned by 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.

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