Magnachip Semiconductor Corp. (MX) Stock Price Up 2%
Magnachip Semiconductor Corp. (NYSE:MX)’s share price rose 2% on Friday . The company traded as high as $8.78 and last traded at $8.72, with a volume of 650,361 shares. The stock had previously closed at $8.55.
A number of research firms recently commented on MX. Topeka Capital Markets lifted their price target on shares of Magnachip Semiconductor Corp. from $5.00 to $6.00 and gave the stock 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 firm’s market cap is $302.51 million. The stock’s 50 day moving average price is $6.77 and its 200 day moving average price is $5.59.
Magnachip Semiconductor Corp. (NYSE:MX) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.05) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.25) by $0.20. The business had revenue of $167.10 million for the quarter, compared to the consensus estimate of $159 million. Equities analysts forecast that Magnachip Semiconductor Corp. will post ($0.28) earnings per share for the current fiscal year.
In other Magnachip Semiconductor Corp. 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 transaction of $434,420.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
An institutional investor recently raised its position in Magnachip Semiconductor Corp. stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Magnachip Semiconductor Corp. (NYSE:MX) by 26.4% during the fourth quarter, according to its most recent 13F filing with the 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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