StockNews.com Downgrades Magnachip Semiconductor (NYSE:MX) to Sell

StockNews.com downgraded shares of Magnachip Semiconductor (NYSE:MX) from a hold rating to a sell rating in a report issued on Thursday morning.

Several other analysts have also commented on MX. Needham & Company LLC decreased their price objective on Magnachip Semiconductor from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 1st. Barclays upgraded Magnachip Semiconductor to a “hold” rating in a research note on Tuesday, September 10th.

Magnachip Semiconductor Trading Down 13.4 %

NYSE MX opened at $3.82 on Thursday. The firm has a market cap of $143.10 million, a PE ratio of -3.29 and a beta of 0.63. Magnachip Semiconductor has a 52 week low of $3.80 and a 52 week high of $8.16. The company has a quick ratio of 4.34, a current ratio of 5.03 and a debt-to-equity ratio of 0.09. The company has a 50 day moving average price of $4.66 and a 200 day moving average price of $4.86.

Hedge Funds Weigh In On Magnachip Semiconductor

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in Magnachip Semiconductor by 177.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,686 shares of the semiconductor company’s stock valued at $26,000 after purchasing an additional 2,994 shares during the last quarter. Founders Capital Management purchased a new stake in Magnachip Semiconductor in the second quarter valued at approximately $29,000. Citizens Financial Group Inc. RI acquired a new position in Magnachip Semiconductor in the 1st quarter worth approximately $89,000. Algert Global LLC raised its position in Magnachip Semiconductor by 15.0% during the 2nd quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock worth $92,000 after buying an additional 2,470 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its stake in Magnachip Semiconductor by 93.4% during the 1st quarter. Quadrature Capital Ltd now owns 43,045 shares of the semiconductor company’s stock valued at $240,000 after acquiring an additional 20,790 shares during the period. Hedge funds and other 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.