Magnachip Semiconductor (NYSE:MX) Stock Price Crosses Above 200-Day Moving Average - Here's What Happened

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.

Shares of Magnachip Semiconductor Corp. (NYSE:MX - Get Free Report) crossed 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.

Wall Street Analyst Weigh In

A number of analysts have issued reports on MX shares. Needham & Company LLC reduced their price target on shares of Magnachip Semiconductor from $6.00 to $5.50 and set a "buy" rating on the stock in a report on Friday. Wall Street Zen lowered shares of Magnachip Semiconductor from a "hold" rating to a "sell" rating in a report on Saturday.

Magnachip Semiconductor Price Performance

The firm's fifty day moving average price is $3.93 and its 200 day moving average price is $3.83. The firm has a market capitalization of $101.88 million, a PE ratio of -3.04 and a beta of 0.84. The company has a current ratio of 4.51, a quick ratio of 3.83 and a debt-to-equity ratio of 0.10.

Institutional Investors Weigh In On Magnachip Semiconductor

A number of hedge funds have recently modified their holdings of the business. PFG Investments LLC purchased a new position in shares of Magnachip Semiconductor in the second quarter valued at approximately $129,000. Jane Street Group LLC purchased a new position in shares of Magnachip Semiconductor in the first quarter valued at approximately $115,000. Cubist Systematic Strategies LLC boosted its stake in shares of Magnachip Semiconductor by 22.9% in the first quarter. Cubist Systematic Strategies LLC now owns 60,638 shares of the semiconductor company's stock valued at $208,000 after purchasing an additional 11,298 shares during the period. American Century Companies Inc. boosted its stake in shares of Magnachip Semiconductor by 5.8% in the first quarter. American Century Companies Inc. now owns 72,861 shares of the semiconductor company's stock valued at $250,000 after purchasing an additional 4,010 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in Magnachip Semiconductor by 64.6% in the first quarter. GSA Capital Partners LLP now owns 184,517 shares of the semiconductor company's stock worth $633,000 after acquiring an additional 72,439 shares during the last quarter. 74.26% of the stock is currently 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.