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

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

Several other analysts have also commented on MX. Zacks Research lowered shares of Magnachip Semiconductor from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Weiss Ratings raised shares of Magnachip Semiconductor from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Monday. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $5.50.

Magnachip Semiconductor Trading Up 17.3%

Magnachip Semiconductor stock opened at $4.53 on Friday. The firm has a 50 day simple moving average of $3.16 and a 200-day simple moving average of $2.92. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.07 and a quick ratio of 3.29. The stock has a market capitalization of $164.04 million, a PE ratio of -6.47 and a beta of 1.00. Magnachip Semiconductor has a 12-month low of $2.18 and a 12-month high of $5.64.

Magnachip Semiconductor (NYSE:MX - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The semiconductor company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.22) by $0.11. Magnachip Semiconductor had a negative net margin of 14.14% and a negative return on equity of 4.57%. The business had revenue of $46.21 million during the quarter, compared to analysts' expectations of $46.00 million.

Institutional Investors Weigh In On Magnachip Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lepercq De Neuflize Asset Management LLC purchased a new stake in Magnachip Semiconductor in the 3rd quarter worth approximately $3,215,000. GSA Capital Partners LLP lifted its position in Magnachip Semiconductor by 4.9% in the 3rd quarter. GSA Capital Partners LLP now owns 285,045 shares of the semiconductor company's stock worth $892,000 after buying an additional 13,294 shares in the last quarter. XTX Topco Ltd purchased a new stake in Magnachip Semiconductor in the 4th quarter worth approximately $65,000. Quadrature Capital Ltd lifted its position in Magnachip Semiconductor by 57.0% in the 4th quarter. Quadrature Capital Ltd now owns 24,420 shares of the semiconductor company's stock worth $62,000 after buying an additional 8,863 shares in the last quarter. Finally, Boothbay Fund Management LLC purchased a new stake in Magnachip Semiconductor in the 4th quarter worth approximately $69,000. Hedge funds and other institutional investors own 74.26% of the company's stock.

About Magnachip Semiconductor

Magnachip Semiconductor Inc is a fabless semiconductor company specializing in high-performance analog and mixed-signal solutions for the display, power management and lighting markets. Its core product portfolio includes display driver ICs for LCD and OLED panels, high-voltage MOSFETs, DC-DC converters, LED driver ICs and power management devices used in consumer electronics, mobile devices, industrial equipment and automotive applications.

Founded in 2004 as a spin-off from MagnaChip, Magnachip is incorporated in the United States with design and sales offices strategically located across North America, Europe and Asia.

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