Magnachip Semiconductor (NYSE:MX) Shares Pass Above 200-Day Moving Average – Should You Sell?

Shares of 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 trading hands.

Wall Street Analyst Weigh In

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

Magnachip Semiconductor Price Performance

The company has a market cap of $108.95 million, a PE ratio of -2.94 and a beta of 1.03. The firm’s 50-day moving average is $2.85 and its 200-day moving average is $2.89. The company has a quick ratio of 3.50, a current ratio of 4.32 and a debt-to-equity ratio of 0.15.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Cubist Systematic Strategies LLC grew its stake in Magnachip Semiconductor by 22.9% in the first 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 during the period. Jane Street Group LLC bought a new stake in shares of Magnachip Semiconductor during the 1st quarter valued at $115,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Magnachip Semiconductor during the 2nd quarter valued at $81,000. ProShare Advisors LLC purchased a new stake in shares of Magnachip Semiconductor in the 2nd quarter worth about $73,000. Finally, American Century Companies Inc. lifted its position in Magnachip Semiconductor by 4.7% during 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 period. Hedge funds and other institutional investors own 74.26% of the company’s stock.

About Magnachip Semiconductor

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.