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

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

Magnachip Semiconductor Stock Performance

Shares of NYSE:MX traded down $0.15 on Thursday, hitting $4.02. The company had a trading volume of 126,975 shares, compared to its average volume of 139,675. The stock has a 50 day moving average price of $4.01 and a 200 day moving average price of $4.54. 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 stock has a market cap of $149.56 million, a price-to-earnings ratio of -3.47 and a beta of 0.64. Magnachip Semiconductor has a 1-year low of $3.56 and a 1-year high of $7.32.

Institutional Investors Weigh In On Magnachip Semiconductor

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Magnachip Semiconductor during the 3rd quarter worth approximately $29,000. Canandaigua National Bank & Trust Co. acquired a new position in shares of Magnachip Semiconductor during the fourth quarter worth $70,000. Algert Global LLC lifted its stake in shares of Magnachip Semiconductor by 15.0% in the 2nd quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock valued at $92,000 after acquiring an additional 2,470 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Magnachip Semiconductor by 13.4% during the 2nd quarter. American Century Companies Inc. now owns 57,173 shares of the semiconductor company’s stock valued at $278,000 after acquiring an additional 6,777 shares in the last quarter. Finally, 272 Capital LP grew its position in Magnachip Semiconductor by 141.6% during the 3rd quarter. 272 Capital LP now owns 91,740 shares of the semiconductor company’s stock worth $428,000 after acquiring an additional 53,774 shares during the last quarter. 74.26% of the stock is currently owned by institutional investors.

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.