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

Magnachip Semiconductor Corp. (NYSE:MX - Get Free Report) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $3.85 and traded as high as $3.92. Magnachip Semiconductor shares last traded at $3.86, with a volume of 151,354 shares traded.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MX. Wall Street Zen lowered shares of Magnachip Semiconductor from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. Needham & Company LLC reaffirmed a "buy" rating and set a $6.00 price target on shares of Magnachip Semiconductor in a research report on Tuesday, May 13th.

Magnachip Semiconductor Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 4.51 and a quick ratio of 3.83. The company's 50-day simple moving average is $3.52 and its 200-day simple moving average is $3.83. The stock has a market capitalization of $137.75 million, a P/E ratio of -2.98 and a beta of 0.83.

Hedge Funds Weigh In On Magnachip Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in MX. BNP Paribas Financial Markets boosted its stake in shares of Magnachip Semiconductor by 14.4% in the 4th quarter. BNP Paribas Financial Markets now owns 310,430 shares of the semiconductor company's stock valued at $1,248,000 after purchasing an additional 39,179 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in Magnachip Semiconductor by 192.4% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 44,105 shares of the semiconductor company's stock worth $177,000 after buying an additional 29,023 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Magnachip Semiconductor by 112.5% in the fourth quarter. Ameriprise Financial Inc. now owns 1,458,280 shares of the semiconductor company's stock valued at $5,862,000 after purchasing an additional 772,085 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Magnachip Semiconductor by 20.5% in the fourth quarter. Millennium Management LLC now owns 589,984 shares of the semiconductor company's stock valued at $2,372,000 after purchasing an additional 100,464 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Magnachip Semiconductor by 61.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 165,552 shares of the semiconductor company's stock valued at $666,000 after buying an additional 63,175 shares during the period. 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.