Magnachip Semiconductor Corp. (MX) Trading 2% Higher
Magnachip Semiconductor Corp. (NYSE:MX)’s share price traded up 2% during mid-day trading on Friday . The stock traded as high as $8.78 and last traded at $8.72, with a volume of 650,361 shares changing hands. The stock had previously closed at $8.55.
Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Magnachip Semiconductor Corp. in a research report on Sunday, May 8th. Topeka Capital Markets raised their price objective on Magnachip Semiconductor Corp. from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, May 6th.
The firm has a 50 day moving average of $6.68 and a 200-day moving average of $5.56. The company’s market capitalization is $302.51 million.
Magnachip Semiconductor Corp. (NYSE:MX) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.20. The company had revenue of $167.10 million for the quarter, compared to analyst estimates of $159 million. On average, equities research analysts anticipate 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 business’s stock in a transaction that occurred 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 filing with the SEC, which is available through this hyperlink.
A hedge fund recently raised its stake in Magnachip Semiconductor Corp. stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in Magnachip Semiconductor Corp. (NYSE:MX) by 26.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund 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.