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

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

Magnachip Semiconductor Price Performance

Shares of NYSE:MX opened at $4.03 on Thursday. Magnachip Semiconductor has a twelve month low of $3.56 and a twelve month high of $7.15. The stock’s 50 day moving average is $4.01 and its 200-day moving average is $4.54. The company has a quick ratio of 4.09, a current ratio of 4.81 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $149.93 million, a price-to-earnings ratio of -3.47 and a beta of 0.64.

Hedge Funds Weigh In On Magnachip Semiconductor

Several hedge funds have recently modified their holdings of MX. Algert Global LLC increased its holdings in Magnachip Semiconductor by 15.0% during the second quarter. Algert Global LLC now owns 18,944 shares of the semiconductor company’s stock worth $92,000 after buying an additional 2,470 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Magnachip Semiconductor during the 3rd quarter valued at approximately $29,000. American Century Companies Inc. increased its stake 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 worth $278,000 after purchasing an additional 6,777 shares during the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Magnachip Semiconductor by 11.0% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 128,554 shares of the semiconductor company’s stock worth $600,000 after purchasing an additional 12,711 shares during the period. Finally, BNP Paribas Financial Markets lifted its stake in Magnachip Semiconductor by 5.1% in the third quarter. BNP Paribas Financial Markets now owns 271,251 shares of the semiconductor company’s stock valued at $1,267,000 after purchasing an additional 13,252 shares during the last quarter. Institutional investors 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.