Magnachip Semiconductor Corp. (MX) Trading Up 2.2%
Magnachip Semiconductor Corp. (NYSE:MX)’s share price was up 2.2% during trading on Wednesday . The company traded as high as $7.59 and last traded at $7.49, with a volume of 298,980 shares traded. The stock had previously closed at $7.33.
A number of equities analysts have commented on MX shares. Topeka Capital Markets upped their target price on shares of Magnachip Semiconductor Corp. from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Friday, May 6th. Needham & Company LLC restated a “hold” rating on shares of Magnachip Semiconductor Corp. in a research note on Sunday, May 8th.
The company has a 50-day moving average price of $5.87 and a 200 day moving average price of $5.27. The company’s market cap is $257.70 million.
Magnachip Semiconductor Corp. (NYSE:MX) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.20. The business earned $167.10 million during the quarter, compared to analysts’ expectations of $159 million. Analysts anticipate that Magnachip Semiconductor Corp. will post ($0.28) earnings per share for the current fiscal year.
In other news, major shareholder Pleasant Lake Partners Llc sold 58,000 shares of the firm’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $7.49, for a total value of $434,420.00. The transaction was disclosed in a filing with the SEC, which is available through this link.
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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