Magnachip Semiconductor (NYSE:MX - Get Free Report) was downgraded by StockNews.com from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.
Magnachip Semiconductor Stock Up 3.9 %
NYSE MX traded up $0.16 during trading on Friday, reaching $4.17. 114,857 shares of the company's stock were exchanged, compared to its average volume of 132,456. Magnachip Semiconductor has a 1 year low of $3.56 and a 1 year high of $7.10. The stock has a market cap of $154.94 million, a P/E ratio of -3.59 and a beta of 0.64. 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 company has a 50 day moving average price of $4.02 and a two-hundred day moving average price of $4.51.
Hedge Funds Weigh In On Magnachip Semiconductor
Several institutional investors have recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in shares of Magnachip Semiconductor during the 2nd quarter worth approximately $518,000. Oddo BHF Asset Management Sas purchased a new position in Magnachip Semiconductor in the third quarter worth $1,005,000. Clearline Capital LP lifted its holdings in Magnachip Semiconductor by 37.5% in the second quarter. Clearline Capital LP now owns 1,683,676 shares of the semiconductor company's stock valued at $8,200,000 after acquiring an additional 459,365 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Magnachip Semiconductor by 91.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 102,377 shares of the semiconductor company's stock worth $478,000 after purchasing an additional 48,767 shares in the last quarter. Finally, American Century Companies Inc. boosted its position 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 in the last quarter. 74.26% of the stock is owned by institutional investors and hedge funds.
Magnachip Semiconductor Company Profile
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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.
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