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

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

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

Magnachip Semiconductor Stock Up 5.7 %

Magnachip Semiconductor stock opened at $3.86 on Thursday. Magnachip Semiconductor has a twelve month low of $3.56 and a twelve month high of $5.97. The firm has a 50 day moving average price of $4.30 and a 200-day moving average price of $4.33. The company has a market capitalization of $143.49 million, a P/E ratio of -3.33 and a beta of 0.58. The company has a quick ratio of 4.09, a current ratio of 4.81 and a debt-to-equity ratio of 0.10.

Institutional Trading of Magnachip Semiconductor

A number of institutional investors have recently modified their holdings of the business. American Century Companies Inc. lifted its stake in shares of Magnachip Semiconductor by 4.8% during the 4th quarter. American Century Companies Inc. now owns 68,851 shares of the semiconductor company’s stock valued at $277,000 after buying an additional 3,138 shares in the last quarter. Empowered Funds LLC lifted its stake in Magnachip Semiconductor by 5.2% in the 4th quarter. Empowered Funds LLC now owns 112,297 shares of the semiconductor company’s stock worth $451,000 after purchasing an additional 5,588 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Magnachip Semiconductor in the 3rd quarter worth approximately $29,000. Kennedy Capital Management LLC lifted its stake in Magnachip Semiconductor by 1.9% in the 4th quarter. Kennedy Capital Management LLC now owns 383,989 shares of the semiconductor company’s stock worth $1,544,000 after purchasing an additional 7,091 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Magnachip Semiconductor in the 4th quarter worth approximately $32,000. 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.