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

StockNews.com upgraded shares of Magnachip Semiconductor (NYSE:MX) from a sell rating to a hold rating in a report released on Thursday morning.

Magnachip Semiconductor Stock Performance

Shares of Magnachip Semiconductor stock opened at $4.03 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 4.09 and a current ratio of 4.81. The firm has a 50-day moving average of $4.02 and a 200-day moving average of $4.53. Magnachip Semiconductor has a 52-week low of $3.56 and a 52-week high of $7.15. The stock has a market cap of $149.93 million, a PE ratio of -3.47 and a beta of 0.64.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MX. Clearline Capital LP grew its position in Magnachip Semiconductor by 7.0% during the third quarter. Clearline Capital LP now owns 1,800,755 shares of the semiconductor company’s stock worth $8,410,000 after buying an additional 117,079 shares in the last quarter. Millennium Management LLC lifted its position in shares of Magnachip Semiconductor by 9.7% during the 2nd quarter. Millennium Management LLC now owns 562,094 shares of the semiconductor company’s stock valued at $2,737,000 after acquiring an additional 49,670 shares during the period. BNP Paribas Financial Markets lifted its position in shares of Magnachip Semiconductor by 5.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 271,251 shares of the semiconductor company’s stock valued at $1,267,000 after acquiring an additional 13,252 shares during the period. Oddo BHF Asset Management Sas bought a new position in shares of Magnachip Semiconductor in the third quarter worth $1,005,000. Finally, Orion Portfolio Solutions LLC increased its position in shares of Magnachip Semiconductor by 11.0% in the third 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. 74.26% of the stock is owned by 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.