Magnachip Semiconductor (NYSE:MX) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Magnachip Semiconductor (NYSE:MX) from a hold rating to a sell rating in a report issued on Thursday morning.

Separately, Needham & Company LLC reissued a “buy” rating and set a $6.00 target price on shares of Magnachip Semiconductor in a research note on Tuesday, May 13th.

Magnachip Semiconductor Stock Down 6.0%

MX stock opened at $3.68 on Thursday. The business’s 50-day moving average price is $3.32 and its 200-day moving average price is $3.87. The stock has a market cap of $132.54 million, a P/E ratio of -3.17 and a beta of 0.77. 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 twelve month low of $2.51 and a twelve month high of $5.98.

Hedge Funds Weigh In On Magnachip Semiconductor

Several institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its holdings in shares of Magnachip Semiconductor by 112.5% during the 4th quarter. Ameriprise Financial Inc. now owns 1,458,280 shares of the semiconductor company’s stock valued at $5,862,000 after purchasing an additional 772,085 shares during the last quarter. Millennium Management LLC grew its holdings in Magnachip Semiconductor by 20.5% during the 4th quarter. Millennium Management LLC now owns 589,984 shares of the semiconductor company’s stock valued at $2,372,000 after buying an additional 100,464 shares in the last quarter. Clearline Capital LP increased its stake in Magnachip Semiconductor by 5.5% in the 4th quarter. Clearline Capital LP now owns 1,900,176 shares of the semiconductor company’s stock worth $7,639,000 after acquiring an additional 99,421 shares during the last quarter. Tabor Asset Management LP bought a new stake in Magnachip Semiconductor in the 1st quarter worth approximately $339,000. Finally, Marshall Wace LLP raised its holdings in shares of Magnachip Semiconductor by 62.0% during the 4th quarter. Marshall Wace LLP now owns 230,480 shares of the semiconductor company’s stock worth $927,000 after acquiring an additional 88,223 shares in the last quarter. 74.26% of the stock is 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.