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 released on Thursday morning.

Magnachip Semiconductor Price Performance

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

Hedge Funds Weigh In On Magnachip Semiconductor

A number of large investors have recently modified their holdings of MX. Clearline Capital LP raised its holdings 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 acquiring an additional 117,079 shares in the last quarter. Millennium Management LLC raised its stake 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 worth $2,737,000 after purchasing an additional 49,670 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Magnachip Semiconductor by 5.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 271,251 shares of the semiconductor company’s stock valued at $1,267,000 after buying an additional 13,252 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Magnachip Semiconductor in the third quarter valued at $1,005,000. Finally, Orion Portfolio Solutions LLC lifted its stake in Magnachip Semiconductor by 11.0% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 128,554 shares of the semiconductor company’s stock valued at $600,000 after purchasing an additional 12,711 shares during the last quarter. 74.26% of the stock is currently owned by institutional investors and hedge funds.

About Magnachip Semiconductor

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.