Magnachip Semiconductor Corp. (MX) Trading Down 1.6%
Magnachip Semiconductor Corp. (NYSE:MX) fell 1.6% during trading on Tuesday . The stock traded as low as $8.61 and last traded at $8.66, with a volume of 163,943 shares traded. The stock had previously closed at $8.80.
Several brokerages have recently commented on MX. Needham & Company LLC reissued a “hold” rating on shares of Magnachip Semiconductor Corp. in a research note on Sunday, May 8th. Topeka Capital Markets boosted their price target 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 stock has a 50-day moving average of $6.94 and a 200 day moving average of $5.69. The company’s market capitalization is $297.30 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, topping the consensus estimate of ($0.25) by $0.20. The business had revenue of $167.10 million for the quarter, compared to analyst estimates of $159 million. Analysts predict that Magnachip Semiconductor Corp. will post ($0.28) earnings per share for the current fiscal year.
In related 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
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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