Magnachip Semiconductor (NYSE:MX) Upgraded at StockNews.com

StockNews.com upgraded shares of Magnachip Semiconductor (NYSE:MX) from a sell rating to a hold rating in a research note issued to investors on Thursday.

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

Magnachip Semiconductor Stock Up 5.7 %

Magnachip Semiconductor stock opened at $3.86 on Thursday. The firm has a market cap of $143.49 million, a price-to-earnings ratio of -3.33 and a beta of 0.58. Magnachip Semiconductor has a 52 week low of $3.56 and a 52 week high of $5.97. The business’s 50-day moving average price is $4.30 and its 200 day moving average price is $4.32. 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

Several institutional investors have recently bought and sold shares of the business. American Century Companies Inc. grew its holdings in Magnachip Semiconductor by 4.8% in the fourth quarter. American Century Companies Inc. now owns 68,851 shares of the semiconductor company’s stock valued at $277,000 after purchasing an additional 3,138 shares during the period. Empowered Funds LLC grew its holdings in Magnachip Semiconductor by 5.2% in the fourth quarter. Empowered Funds LLC now owns 112,297 shares of the semiconductor company’s stock valued at $451,000 after purchasing an additional 5,588 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Magnachip Semiconductor in the third quarter valued at approximately $29,000. Kennedy Capital Management LLC boosted its stake in shares of Magnachip Semiconductor by 1.9% in the fourth quarter. Kennedy Capital Management LLC now owns 383,989 shares of the semiconductor company’s stock worth $1,544,000 after acquiring an additional 7,091 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Magnachip Semiconductor in the fourth quarter worth approximately $32,000. 74.26% of the stock is owned by institutional investors and hedge funds.

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.