Magnachip Semiconductor Corp. (MX) Shares Gap Up to $8.70
Magnachip Semiconductor Corp. (NYSE:MX)’s share price gapped up before the market opened 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.
Several equities analysts have commented on MX shares. Topeka Capital Markets raised their target price on shares of 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 reissued a “hold” rating on shares of Magnachip Semiconductor Corp. in a report on Sunday, May 8th.
The stock’s market cap is $304.59 million. The company’s 50-day moving average is $6.68 and its 200-day moving average is $5.56.
Magnachip Semiconductor Corp. (NYSE:MX) last issued its earnings results on Wednesday, August 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.25) by $0.20. The firm earned $167.10 million during the quarter, compared to the consensus estimate of $159 million. On average, equities research analysts predict that Magnachip Semiconductor Corp. will post ($0.28) earnings per share for the current year.
In other news, major shareholder Pleasant Lake Partners Llc sold 58,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 4th. The shares were 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 SEC, which is accessible through this link.
A hedge fund recently raised its stake 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 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 1.10% of Magnachip Semiconductor Corp. worth $2,012,000 at the end of the most recent reporting period.
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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