Magnachip Semiconductor (NYSE:MX) Raised to Hold at Wall Street Zen

Magnachip Semiconductor (NYSE:MX - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a note issued to investors on Friday.

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

Magnachip Semiconductor Trading Up 4.6%

NYSE:MX traded up $0.19 on Friday, reaching $4.34. The company's stock had a trading volume of 408,911 shares, compared to its average volume of 241,661. The business's 50-day moving average price is $3.88 and its two-hundred day moving average price is $3.84. Magnachip Semiconductor has a 1-year low of $2.51 and a 1-year high of $5.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 3.83 and a current ratio of 4.51. The firm has a market cap of $156.50 million, a PE ratio of -3.39 and a beta of 0.86.

Institutional Trading of Magnachip Semiconductor

Several institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Magnachip Semiconductor by 61.7% during the 4th 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 in the last quarter. Virtu Financial LLC purchased a new stake in shares of Magnachip Semiconductor during the fourth quarter worth $243,000. American Century Companies Inc. boosted its holdings in shares of Magnachip Semiconductor by 4.8% in the fourth quarter. American Century Companies Inc. now owns 68,851 shares of the semiconductor company's stock worth $277,000 after acquiring an additional 3,138 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Magnachip Semiconductor by 39.7% in the fourth quarter. JPMorgan Chase & Co. now owns 123,237 shares of the semiconductor company's stock worth $495,000 after acquiring an additional 35,008 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Magnachip Semiconductor by 23.0% in the fourth quarter. Renaissance Technologies LLC now owns 237,900 shares of the semiconductor company's stock valued at $956,000 after purchasing an additional 44,546 shares in 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.