Magnachip Semiconductor Corp. (MX) Sees Large Volume Increase
Magnachip Semiconductor Corp. (NYSE:MX) shares saw an uptick in trading volume on Friday . 842,374 shares traded hands during mid-day trading, an increase of 242% from the previous session’s volume of 246,553 shares.The stock last traded at $7.60 and had previously closed at $7.28.
A number of brokerages have recently issued reports 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 objective 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.
The stock’s market cap is $260.58 million. The firm has a 50-day moving average price of $5.78 and a 200-day moving average price of $5.21.
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, topping the consensus estimate of ($0.25) by $0.20. The business had revenue of $167.10 million for the quarter, compared to analysts’ expectations of $159 million. On average, analysts anticipate that Magnachip Semiconductor Corp. will post ($0.28) earnings per share for the current year.
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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