Magnachip Semiconductor Corp. (MX) Shares Gap Up to $8.70
Magnachip Semiconductor Corp. (NYSE:MX) gapped up prior to trading on Wednesday . The stock had previously closed at $8.67, but opened at $8.70. Magnachip Semiconductor Corp. shares last traded at $8.74, with a volume of 302,831 shares changing hands.
Several equities research analysts recently commented on MX shares. Topeka Capital Markets boosted their price target on Magnachip Semiconductor Corp. from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Friday, May 6th. Needham & Company LLC reissued a “hold” rating on shares of Magnachip Semiconductor Corp. in a research note on Sunday, May 8th.
The company’s market capitalization is $293.82 million. The stock has a 50 day moving average price of $6.51 and a 200 day moving average price of $5.51.
Magnachip Semiconductor Corp. (NYSE:MX) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.25) by $0.20. The company earned $167.10 million during the quarter, compared to analyst estimates of $159 million. Equities analysts forecast that Magnachip Semiconductor Corp. will post ($0.28) EPS for the current fiscal year.
In other Magnachip Semiconductor Corp. news, major shareholder Pleasant Lake Partners Llc sold 58,000 shares of Magnachip Semiconductor Corp. stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $7.49, for a total value of $434,420.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
An institutional investor recently raised its position in Magnachip Semiconductor Corp. stock. Connor Clark & Lunn Investment Management Ltd. raised its position in Magnachip Semiconductor Corp. (NYSE:MX) by 26.4% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor 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 about 1.10% of Magnachip Semiconductor Corp. worth $2,012,000 as of its most recent filing with the SEC.
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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