Magnachip Semiconductor Corp. (MX) Sees Strong Trading Volume
Shares of Magnachip Semiconductor Corp. (NYSE:MX) saw an uptick in trading volume on Friday . 842,374 shares were traded during 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.
Several research firms have recently weighed in on MX. Needham & Company LLC reissued a “hold” rating on shares of Magnachip Semiconductor Corp. in a research report on Sunday, May 8th. Topeka Capital Markets boosted their target price on Magnachip Semiconductor Corp. from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Friday, May 6th.
The company’s 50-day moving average is $5.78 and its 200 day moving average is $5.21. The firm’s market cap is $260.58 million.
Magnachip Semiconductor Corp. (NYSE:MX) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 expect that Magnachip Semiconductor Corp. will post ($0.28) earnings per share for the current fiscal 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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