Magnachip Semiconductor (NYSE:MX) Stock Rating Lowered by StockNews.com

Magnachip Semiconductor (NYSE:MX) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

Magnachip Semiconductor Trading Up 3.9 %

NYSE:MX opened at $4.17 on Friday. The company has a market cap of $154.94 million, a PE ratio of -3.59 and a beta of 0.64. The business’s 50 day moving average is $4.02 and its two-hundred day moving average is $4.50. The company has a quick ratio of 4.09, a current ratio of 4.81 and a debt-to-equity ratio of 0.10. Magnachip Semiconductor has a 52 week low of $3.56 and a 52 week high of $7.10.

Hedge Funds Weigh In On Magnachip Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Magnachip Semiconductor during the third quarter worth about $29,000. Canandaigua National Bank & Trust Co. bought a new position in Magnachip Semiconductor in the 4th quarter worth about $70,000. Algert Global LLC increased its stake in shares of Magnachip Semiconductor by 15.0% in the second quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock valued at $92,000 after purchasing an additional 2,470 shares during the period. American Century Companies Inc. raised its holdings in shares of Magnachip Semiconductor by 13.4% during the second quarter. American Century Companies Inc. now owns 57,173 shares of the semiconductor company’s stock valued at $278,000 after buying an additional 6,777 shares during the last quarter. Finally, 272 Capital LP boosted its position in shares of Magnachip Semiconductor by 141.6% during the third quarter. 272 Capital LP now owns 91,740 shares of the semiconductor company’s stock worth $428,000 after buying an additional 53,774 shares during the period. 74.26% of the stock is currently owned by institutional investors and hedge funds.

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.