Magnachip Semiconductor (NYSE:MX) Shares Cross Above 200-Day Moving Average – What’s Next?

Magnachip Semiconductor Corp. (NYSE:MX) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.84 and traded as high as $4.05. Magnachip Semiconductor shares last traded at $4.04, with a volume of 96,831 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen cut shares of Magnachip Semiconductor from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd. Needham & Company LLC restated a “buy” rating and issued a $6.00 price objective on shares of Magnachip Semiconductor in a research report on Tuesday, May 13th.

Magnachip Semiconductor Trading Up 0.2%

The stock has a fifty day moving average of $3.60 and a 200 day moving average of $3.83. 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 company has a market capitalization of $145.68 million, a PE ratio of -3.16 and a beta of 0.83.

Hedge Funds Weigh In On Magnachip Semiconductor

Several hedge funds have recently modified their holdings of the stock. American Century Companies Inc. lifted 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 buying an additional 3,138 shares in the last quarter. Kennedy Capital Management LLC lifted its stake in Magnachip Semiconductor by 1.9% in the 4th quarter. Kennedy Capital Management LLC now owns 383,989 shares of the semiconductor company’s stock worth $1,544,000 after purchasing an additional 7,091 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new stake in Magnachip Semiconductor in the 1st quarter worth $35,000. Cubist Systematic Strategies LLC lifted its stake in Magnachip Semiconductor by 22.9% in the 1st quarter. Cubist Systematic Strategies LLC now owns 60,638 shares of the semiconductor company’s stock worth $208,000 after purchasing an additional 11,298 shares in the last quarter. Finally, Hsbc Holdings PLC purchased a new stake in Magnachip Semiconductor in the 4th quarter worth $47,000. Hedge funds and other institutional investors own 74.26% of the company’s stock.

Magnachip Semiconductor Company Profile

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.