Magnachip Semiconductor (NYSE:MX) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• Magnachip Semiconductor stock recently crossed above its 200-day moving average, reaching a high of $4.27 and last trading at $4.22.
• Analysts have provided mixed ratings, with Needham & Company reaffirming a "buy" rating and a $6.00 price target, while Wall Street Zen upgraded it from "sell" to "hold."
• Institutional investors have been active, with hedge funds owning 74.26% of the company's stock and notable purchases from firms like PFG Investments and Jane Street Group.

Magnachip Semiconductor Corp. (NYSE:MX - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.85 and traded as high as $4.27. Magnachip Semiconductor shares last traded at $4.22, with a volume of 283,581 shares trading hands.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $6.00 price target on shares of Magnachip Semiconductor in a research report on Tuesday, May 13th. Wall Street Zen upgraded shares of Magnachip Semiconductor from a "sell" rating to a "hold" rating in a research note on Friday, July 18th.

Magnachip Semiconductor Stock Performance

The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.83 and a current ratio of 4.51. The stock has a market cap of $152.07 million, a PE ratio of -3.29 and a beta of 0.86. The company's 50 day simple moving average is $3.96 and its 200 day simple moving average is $3.85.

Institutional Investors Weigh In On Magnachip Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PFG Investments LLC purchased a new stake in Magnachip Semiconductor in the 2nd quarter valued at about $129,000. Jane Street Group LLC bought a new position in shares of Magnachip Semiconductor during the 1st quarter valued at approximately $115,000. Cubist Systematic Strategies LLC grew its position in shares of Magnachip Semiconductor by 22.9% during the 1st quarter. Cubist Systematic Strategies LLC now owns 60,638 shares of the semiconductor company's stock valued at $208,000 after acquiring an additional 11,298 shares during the period. American Century Companies Inc. grew its position in shares of Magnachip Semiconductor by 5.8% during the 1st quarter. American Century Companies Inc. now owns 72,861 shares of the semiconductor company's stock valued at $250,000 after acquiring an additional 4,010 shares during the period. Finally, GSA Capital Partners LLP grew its position in shares of Magnachip Semiconductor by 64.6% during the 1st quarter. GSA Capital Partners LLP now owns 184,517 shares of the semiconductor company's stock valued at $633,000 after acquiring an additional 72,439 shares during the period. Hedge funds and other institutional investors own 74.26% of the company's stock.

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.

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