Magnachip Semiconductor (NYSE:MX) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

Magnachip Semiconductor Co. (NYSE:MX)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $4.39 and traded as high as $4.90. Magnachip Semiconductor shares last traded at $4.64, with a volume of 139,488 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Magnachip Semiconductor from a “hold” rating to a “sell” rating in a report on Friday, January 17th.

Magnachip Semiconductor Trading Down 3.1 %

The company has a market cap of $166.86 million, a PE ratio of -3.87 and a beta of 0.66. The company has a current ratio of 4.81, a quick ratio of 4.09 and a debt-to-equity ratio of 0.10. The business has a 50 day simple moving average of $4.28 and a two-hundred day simple moving average of $4.39.

Hedge Funds Weigh In On Magnachip Semiconductor

A number of hedge funds have recently made changes to their positions in MX. Ameriprise Financial Inc. raised its position in shares of Magnachip Semiconductor by 112.5% in the 4th quarter. Ameriprise Financial Inc. now owns 1,458,280 shares of the semiconductor company’s stock worth $5,862,000 after buying an additional 772,085 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in Magnachip Semiconductor during the third quarter worth about $1,005,000. Clearline Capital LP raised its holdings in shares of Magnachip Semiconductor by 7.0% in the 3rd quarter. Clearline Capital LP now owns 1,800,755 shares of the semiconductor company’s stock worth $8,410,000 after purchasing an additional 117,079 shares during the period. Millennium Management LLC lifted its stake in shares of Magnachip Semiconductor by 20.5% in the 4th quarter. Millennium Management LLC now owns 589,984 shares of the semiconductor company’s stock valued at $2,372,000 after purchasing an additional 100,464 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Magnachip Semiconductor by 62.0% during the 4th quarter. Marshall Wace LLP now owns 230,480 shares of the semiconductor company’s stock worth $927,000 after purchasing an additional 88,223 shares during the period. Institutional investors and hedge funds 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.