Wall Street Zen Downgrades Magnachip Semiconductor (NYSE:MX) to Sell

Magnachip Semiconductor (NYSE:MX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Thursday.

Separately, Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Magnachip Semiconductor in a research note on Tuesday, May 13th.

Magnachip Semiconductor Price Performance

Shares of MX stock opened at $3.68 on Thursday. The firm has a market capitalization of $132.54 million, a P/E ratio of -3.17 and a beta of 0.77. Magnachip Semiconductor has a 52-week low of $2.51 and a 52-week high of $5.98. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.09 and a current ratio of 4.81. The stock has a 50 day moving average price of $3.32 and a 200 day moving average price of $3.87.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. R Squared Ltd acquired a new stake in Magnachip Semiconductor in the fourth quarter worth about $32,000. OneDigital Investment Advisors LLC purchased a new stake in Magnachip Semiconductor during the 1st quarter worth approximately $35,000. Hsbc Holdings PLC purchased a new stake in Magnachip Semiconductor during the 4th quarter worth approximately $47,000. Jane Street Group LLC purchased a new stake in Magnachip Semiconductor during the 1st quarter worth approximately $115,000. Finally, XTX Topco Ltd purchased a new stake in Magnachip Semiconductor during the 4th quarter worth approximately $145,000. 74.26% of the stock is currently 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.