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

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 on Friday.

Magnachip Semiconductor Trading Up 1.4 %

NYSE:MX opened at $4.01 on Friday. 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’s 50 day simple moving average is $4.02 and its 200-day simple moving average is $4.51. Magnachip Semiconductor has a 12-month low of $3.56 and a 12-month high of $7.10. The firm has a market cap of $148.99 million, a P/E ratio of -3.45 and a beta of 0.64.

Institutional Trading of Magnachip Semiconductor

Several hedge funds have recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Magnachip Semiconductor during the third quarter worth about $29,000. Canandaigua National Bank & Trust Co. acquired a new position in Magnachip Semiconductor during the fourth quarter worth $70,000. Algert Global LLC raised its position in Magnachip Semiconductor by 15.0% in the second quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock worth $92,000 after acquiring an additional 2,470 shares in the last quarter. American Century Companies Inc. lifted its holdings in Magnachip Semiconductor by 13.4% in the second 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 during the period. Finally, 272 Capital LP boosted its position in shares of 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 purchasing an additional 53,774 shares in the last quarter. 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.