Magnachip Semiconductor (NYSE:MX) Share Price Passes Above 200 Day Moving Average – Should You Sell?

Magnachip Semiconductor Corp. (NYSE:MX) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.89 and traded as high as $3.09. Magnachip Semiconductor shares last traded at $3.0280, with a volume of 202,903 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on MX shares. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Magnachip Semiconductor in a research report on Thursday, January 22nd. Wall Street Zen cut shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $5.50.

Magnachip Semiconductor Stock Performance

The company has a quick ratio of 3.50, a current ratio of 4.32 and a debt-to-equity ratio of 0.15. The stock has a market cap of $103.26 million, a price-to-earnings ratio of -2.79 and a beta of 1.04. The company has a 50 day simple moving average of $2.85 and a 200 day simple moving average of $2.89.

Institutional Trading of Magnachip Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. American Century Companies Inc. lifted its stake in shares of Magnachip Semiconductor by 4.7% in the 2nd quarter. American Century Companies Inc. now owns 76,312 shares of the semiconductor company’s stock valued at $304,000 after acquiring an additional 3,451 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in Magnachip Semiconductor by 1.9% in the 3rd quarter. BNP Paribas Financial Markets now owns 315,732 shares of the semiconductor company’s stock worth $988,000 after purchasing an additional 5,764 shares in the last quarter. Vanguard Group Inc. raised its position in Magnachip Semiconductor by 0.6% in the third quarter. Vanguard Group Inc. now owns 1,030,024 shares of the semiconductor company’s stock valued at $3,224,000 after purchasing an additional 6,519 shares during the last quarter. Engineers Gate Manager LP boosted its stake in shares of Magnachip Semiconductor by 15.4% during the second quarter. Engineers Gate Manager LP now owns 59,648 shares of the semiconductor company’s stock valued at $237,000 after purchasing an additional 7,941 shares in the last quarter. Finally, Algert Global LLC grew its holdings in shares of Magnachip Semiconductor by 44.7% during the third quarter. Algert Global LLC now owns 29,455 shares of the semiconductor company’s stock worth $92,000 after purchasing an additional 9,100 shares during the last quarter. Institutional investors own 74.26% of the company’s stock.

Magnachip Semiconductor Company Profile

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.