Magnachip Semiconductor (NYSE:MX) Downgraded by Wall Street Zen to Sell

Wall Street Zen downgraded shares of Magnachip Semiconductor (NYSE:MX - Free Report) from a hold rating to a sell rating in a research report sent to investors on Thursday.

Separately, Needham & Company LLC restated a "buy" rating and set a $6.00 target price on shares of Magnachip Semiconductor in a report on Tuesday, May 13th.

Magnachip Semiconductor Price Performance

Shares of MX traded up $0.06 during midday trading on Thursday, reaching $3.74. The stock had a trading volume of 89,591 shares, compared to its average volume of 242,081. The company's 50-day moving average is $3.31 and its 200 day moving average is $3.87. Magnachip Semiconductor has a 12-month low of $2.51 and a 12-month high of $5.98. 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 company has a market capitalization of $134.70 million, a price-to-earnings ratio of -3.22 and a beta of 0.77.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameriprise Financial Inc. raised its position in shares of Magnachip Semiconductor by 112.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,458,280 shares of the semiconductor company's stock worth $5,862,000 after acquiring an additional 772,085 shares in the last quarter. Millennium Management LLC boosted its stake in Magnachip Semiconductor by 20.5% during the 4th 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. Clearline Capital LP boosted its stake in Magnachip Semiconductor by 5.5% during the 4th quarter. Clearline Capital LP now owns 1,900,176 shares of the semiconductor company's stock valued at $7,639,000 after purchasing an additional 99,421 shares during the last quarter. Tabor Asset Management LP purchased a new stake in Magnachip Semiconductor during the 1st quarter valued at $339,000. Finally, Marshall Wace LLP boosted its stake in shares of Magnachip Semiconductor by 62.0% in the 4th quarter. Marshall Wace LLP now owns 230,480 shares of the semiconductor company's stock worth $927,000 after buying an additional 88,223 shares during the last quarter. 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.