Magnachip Semiconductor (NYSE:MX) Stock Price Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• Magnachip shares crossed above their 50-day moving average, trading as high as $3.00 versus a $2.91 average, though they remained below the 200-day average of $3.64.
• Analyst sentiment is cautious: the consensus rating is “Reduce,” with one analyst rating the stock Hold and one rating it Sell.
• The company reported a quarterly loss of $0.29 per share, worse than the $0.20 loss expected, and revenue of $43.98 million, below the $47.50 million estimate. Insiders bought 170,000 shares during the last quarter.

Magnachip Semiconductor Corp. (NYSE:MX - Get Free Report) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $2.91 and traded as high as $3.00. Magnachip Semiconductor shares last traded at $2.9630, with a volume of 1,550,687 shares.

Analyst Ratings Changes

Several equities analysts have recently weighed in on MX shares. Wall Street Zen lowered shares of Magnachip Semiconductor from a "hold" rating to a "sell" rating in a report on Saturday, November 7th. Weiss Ratings reissued a "sell (d-)" rating on shares of Magnachip Semiconductor in a research report on Thursday, October 29th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Reduce".

Magnachip Semiconductor Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 2.65 and a quick ratio of 2.02. The company has a 50 day simple moving average of $2.91 and a 200-day simple moving average of $3.64. The stock has a market capitalization of $112.74 million, a P/E ratio of -3.61 and a beta of 1.72.

Magnachip Semiconductor (NYSE:MX - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The semiconductor company reported ($0.29) EPS for the quarter, missing the consensus estimate of ($0.20) by ($0.09). Magnachip Semiconductor had a negative net margin of 17.15% and a negative return on equity of 11.18%. The business had revenue of $43.98 million for the quarter, compared to analysts' expectations of $47.50 million.

Insider Buying and Selling at Magnachip Semiconductor

In related news, CEO Chae Lee purchased 70,000 shares of the firm's stock in a transaction dated Friday, November 6th. The shares were purchased at an average cost of $2.22 per share, for a total transaction of $155,400.00. Following the completion of the transaction, the chief executive officer directly owned 458,750 shares in the company, valued at approximately $1,018,425. This represents a 18.01% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders bought 170,000 shares of company stock worth $474,200 in the last quarter. Corporate insiders own 10.90% of the company's stock.

Institutional Investors Weigh In On Magnachip Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in MX. Almanack Investment Partners LLC. bought a new stake in Magnachip Semiconductor during the third quarter valued at $626,000. WINTON GROUP Ltd purchased a new position in Magnachip Semiconductor during the second quarter worth about $164,000. Squarepoint Ops LLC bought a new position in Magnachip Semiconductor in the 2nd quarter worth about $319,000. TD Waterhouse Canada Inc. bought a new position in Magnachip Semiconductor in the 2nd quarter worth about $574,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in Magnachip Semiconductor in the 2nd quarter worth about $90,000. Hedge funds and other institutional investors own 74.26% of the company's stock.

About Magnachip Semiconductor

Magnachip Semiconductor Corporation NYSE: MX is a semiconductor company that designs and supplies analog and mixed-signal products. Its portfolio is focused primarily on power semiconductors and display solutions used in consumer electronics, communications equipment, automotive applications, industrial systems and other electronic devices. The company's power products include metal-oxide-semiconductor field-effect transistors (MOSFETs), insulated-gate bipolar transistors (IGBTs), power integrated circuits and other discrete semiconductor devices designed to manage power conversion, distribution and efficiency.

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