Magnachip Semiconductor (NYSE:MX) Shares Cross Above Two Hundred Day Moving Average – What’s Next?

Magnachip Semiconductor Co. (NYSE:MX) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $4.42 and traded as high as $4.60. Magnachip Semiconductor shares last traded at $4.47, with a volume of 62,009 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research note on Friday, January 17th.

Magnachip Semiconductor Price Performance

The stock’s 50-day moving average is $4.12 and its 200-day moving average is $4.42. The firm has a market cap of $166.28 million, a P/E ratio of -3.85 and a beta of 0.66. The company has a quick ratio of 4.09, a current ratio of 4.81 and a debt-to-equity ratio of 0.10.

Hedge Funds Weigh In On Magnachip Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of MX. Point72 Asia Singapore Pte. Ltd. bought a new stake in Magnachip Semiconductor in the 3rd quarter valued at $29,000. R Squared Ltd bought a new stake in Magnachip Semiconductor in the 4th quarter valued at $32,000. Canandaigua National Bank & Trust Co. bought a new stake in Magnachip Semiconductor in the 4th quarter valued at $70,000. Virtu Financial LLC bought a new stake in Magnachip Semiconductor in the 4th quarter valued at $243,000. Finally, American Century Companies Inc. increased its holdings in Magnachip Semiconductor by 4.8% in the 4th quarter. American Century Companies Inc. now owns 68,851 shares of the semiconductor company’s stock valued at $277,000 after buying an additional 3,138 shares during the period. 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.