Magnachip Semiconductor Corp. (MX) Trading 4.3% Higher
Magnachip Semiconductor Corp. (NYSE:MX) traded up 4.3% on Thursday . The stock traded as high as $8.03 and last traded at $8.03, with a volume of 400,240 shares changing hands. The stock had previously closed at $7.70.
Several equities research analysts recently weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of Magnachip Semiconductor Corp. in a research report on Sunday, May 8th. Topeka Capital Markets raised their price target on shares of 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 market capitalization is $277.15 million. The company has a 50 day moving average price of $6.29 and a 200-day moving average price of $5.41.
Magnachip Semiconductor Corp. (NYSE:MX) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.20. The company earned $167.10 million during 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 year.
In other Magnachip Semiconductor Corp. news, major shareholder Pleasant Lake Partners Llc sold 58,000 shares of the business’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 legal filing with the Securities & Exchange Commission, which is available through the SEC website.
An institutional investor recently raised its position in Magnachip Semiconductor Corp. stock. Connor Clark & Lunn Investment Management Ltd. raised its stake in Magnachip Semiconductor Corp. (NYSE:MX) by 26.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 380,400 shares of the company’s stock after buying an additional 79,475 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.10% of Magnachip Semiconductor Corp. worth $2,012,000 at the end of the most recent quarter.
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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