Magnachip Semiconductor (NYSE:MX) Shares Pass Above 200-Day Moving Average - What's Next?

Magnachip Semiconductor Co. (NYSE:MX - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $3.86 and traded as high as $3.95. Magnachip Semiconductor shares last traded at $3.93, with a volume of 269,293 shares.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Wall Street Zen cut Magnachip Semiconductor from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. Needham & Company LLC reissued a "buy" rating and issued a $6.00 price target on shares of Magnachip Semiconductor in a research note on Tuesday, May 13th.

Magnachip Semiconductor Stock Up 0.5%

The company has a market capitalization of $142.45 million, a price-to-earnings ratio of -3.41 and a beta of 0.83. The company has a current ratio of 4.81, a quick ratio of 4.09 and a debt-to-equity ratio of 0.10. The firm's fifty day simple moving average is $3.35 and its two-hundred day simple moving average is $3.86.

Institutional Investors Weigh In On Magnachip Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of MX. Clearline Capital LP increased its position in shares of Magnachip Semiconductor by 5.5% during the fourth quarter. Clearline Capital LP now owns 1,900,176 shares of the semiconductor company's stock worth $7,639,000 after acquiring an additional 99,421 shares during the period. Ameriprise Financial Inc. grew its stake in Magnachip Semiconductor by 112.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,458,280 shares of the semiconductor company's stock worth $5,862,000 after purchasing an additional 772,085 shares in the last quarter. Millennium Management LLC increased its holdings in Magnachip Semiconductor by 20.5% during the 4th quarter. Millennium Management LLC now owns 589,984 shares of the semiconductor company's stock worth $2,372,000 after purchasing an additional 100,464 shares during the period. Bridgeway Capital Management LLC raised its position in Magnachip Semiconductor by 10.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 574,451 shares of the semiconductor company's stock valued at $2,309,000 after purchasing an additional 55,588 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in shares of Magnachip Semiconductor by 1.9% in the 4th quarter. Kennedy Capital Management LLC now owns 383,989 shares of the semiconductor company's stock valued at $1,544,000 after buying an additional 7,091 shares during the period. Hedge funds and other institutional investors own 74.26% of the company's stock.

About Magnachip Semiconductor

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.