Magnachip Semiconductor Corp. (MX) Sees Unusually-High Trading Volume
Magnachip Semiconductor Corp. (NYSE:MX) saw strong trading volume on Monday . 580,036 shares were traded during mid-day trading, an increase of 66% from the previous session’s volume of 349,419 shares.The stock last traded at $7.87 and had previously closed at $7.52.
A number of equities analysts have recently weighed in on the company. Needham & Company LLC restated a “hold” rating on shares of Magnachip Semiconductor Corp. in a research note on Sunday, May 8th. Topeka Capital Markets upped 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 $272.99 million. The company’s 50-day moving average is $6.08 and its 200-day moving average is $5.35.
Magnachip Semiconductor Corp. (NYSE:MX) last released its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.25) by $0.20. The company earned $167.10 million during the quarter, compared to the consensus estimate of $159 million. Analysts expect that Magnachip Semiconductor Corp. will post ($0.28) EPS for the current 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.
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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