Magnachip Semiconductor (NYSE:MX) Stock Rating Upgraded by StockNews.com

Magnachip Semiconductor (NYSE:MX) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $6.00 target price on shares of Magnachip Semiconductor in a research report on Thursday.

Magnachip Semiconductor Stock Down 4.2 %

Shares of NYSE:MX traded down $0.16 during trading on Thursday, reaching $3.66. 332,048 shares of the stock were exchanged, compared to its average volume of 222,861. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.81 and a quick ratio of 4.09. Magnachip Semiconductor has a 1-year low of $3.56 and a 1-year high of $5.97. The stock has a fifty day moving average of $4.31 and a two-hundred day moving average of $4.34. The firm has a market cap of $136.09 million, a price-to-earnings ratio of -3.15 and a beta of 0.58.

Institutional Investors Weigh In On Magnachip Semiconductor

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised its position 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 last quarter. Empowered Funds LLC raised its position in Magnachip Semiconductor by 5.2% in the 4th quarter. Empowered Funds LLC now owns 112,297 shares of the semiconductor company’s stock valued at $451,000 after buying an additional 5,588 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Magnachip Semiconductor in the 3rd quarter valued at $29,000. Kennedy Capital Management LLC raised its position 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 valued at $1,544,000 after buying an additional 7,091 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Magnachip Semiconductor in the 4th quarter valued at $32,000. 74.26% of the stock is owned by hedge funds and other institutional investors.

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.