Magnachip Semiconductor Corp. (MX) Trading Up 4.3%
Magnachip Semiconductor Corp. (NYSE:MX) was up 4.3% on Thursday . The company traded as high as $8.03 and last traded at $8.03, with a volume of 400,240 shares changing hands. The stock had previously closed at $7.70.
A number of equities research analysts have weighed in on MX shares. Topeka Capital Markets lifted their price objective on Magnachip Semiconductor Corp. from $5.00 to $6.00 and gave the company a “buy” rating in a report on Friday, May 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Magnachip Semiconductor Corp. in a report on Sunday, May 8th.
The company has a 50 day moving average of $6.36 and a 200 day moving average of $5.44. The stock’s market cap is $286.53 million.
Magnachip Semiconductor Corp. (NYSE:MX) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.20. The company had revenue of $167.10 million for the quarter, compared to the consensus estimate of $159 million. On average, equities research analysts expect that Magnachip Semiconductor Corp. will post ($0.28) earnings per share for the current fiscal year.
In other news, major shareholder Pleasant Lake Partners Llc sold 58,000 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $7.49, for a total transaction of $434,420.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
An institutional investor recently raised its position in Magnachip Semiconductor Corp. stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in Magnachip Semiconductor Corp. (NYSE:MX) by 26.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 380,400 shares of the company’s stock after buying an additional 79,475 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.10% of Magnachip Semiconductor Corp. worth $2,012,000 as of its most recent SEC filing.
MagnaChip Semiconductor Corporation is a holding company, which designs and manufactures analog and mixed-signal semiconductor products for consumer, computing, communication, industrial, automotive and Internet of things (IoT) applications. The Company provides technology platforms for analog, mixed-signal, power, high voltage, non-volatile memory and radio frequency applications.
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