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

Magnachip Semiconductor Co. (NYSE:MX - Get Free Report) crossed 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 traded.

Analyst Ratings Changes

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

Magnachip Semiconductor Price Performance

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 has a market cap of $138.13 million, a price-to-earnings ratio of -3.30 and a beta of 0.83. The company's 50-day moving average is $3.39 and its 200-day moving average is $3.86.

Hedge Funds Weigh In On Magnachip Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in MX. Ameriprise Financial Inc. lifted its stake in Magnachip Semiconductor by 112.5% in the 4th 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 stake in shares of Magnachip Semiconductor by 20.5% during the fourth quarter. Millennium Management LLC now owns 589,984 shares of the semiconductor company's stock valued at $2,372,000 after acquiring an additional 100,464 shares during the last quarter. Clearline Capital LP raised its stake 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 valued at $7,639,000 after acquiring an additional 99,421 shares during the last quarter. Tabor Asset Management LP bought a new position in shares of Magnachip Semiconductor during the first quarter valued at $339,000. Finally, Marshall Wace LLP raised its stake in shares of Magnachip Semiconductor by 62.0% during the fourth quarter. Marshall Wace LLP now owns 230,480 shares of the semiconductor company's stock valued at $927,000 after acquiring an additional 88,223 shares during the last quarter. 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.