Magnachip Semiconductor (NYSE:MX) Upgraded at StockNews.com

StockNews.com upgraded shares of Magnachip Semiconductor (NYSE:MX) from a sell rating to a hold rating in a research report released on Thursday.

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

Magnachip Semiconductor Trading Up 5.7 %

Shares of NYSE MX opened at $3.86 on Thursday. The business has a fifty day moving average price of $4.30 and a 200 day moving average price of $4.32. 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 market capitalization of $143.49 million, a P/E ratio of -3.33 and a beta of 0.58.

Institutional Investors Weigh In On Magnachip Semiconductor

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its stake in shares of Magnachip Semiconductor by 20.5% in the fourth quarter. Millennium Management LLC now owns 589,984 shares of the semiconductor company’s stock worth $2,372,000 after purchasing an additional 100,464 shares during the last quarter. Clearline Capital LP raised its stake in shares of Magnachip Semiconductor by 5.5% in the fourth quarter. Clearline Capital LP now owns 1,900,176 shares of the semiconductor company’s stock worth $7,639,000 after purchasing an additional 99,421 shares during the last quarter. D. E. Shaw & Co. Inc. raised its stake in shares of Magnachip Semiconductor by 192.4% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 44,105 shares of the semiconductor company’s stock worth $177,000 after purchasing an additional 29,023 shares during the last quarter. Cubist Systematic Strategies LLC raised its stake in shares of Magnachip Semiconductor by 279.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 49,340 shares of the semiconductor company’s stock worth $198,000 after purchasing an additional 36,347 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in shares of Magnachip Semiconductor by 10.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 574,451 shares of the semiconductor company’s stock worth $2,309,000 after purchasing an additional 55,588 shares during the last quarter. 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.