Magnachip Semiconductor Corp. (MX) Shares Down 1.6%
Shares of Magnachip Semiconductor Corp. (NYSE:MX) fell 1.6% during trading on Tuesday . The company traded as low as $8.61 and last traded at $8.66, with a volume of 163,943 shares traded. The stock had previously closed at $8.80.
A number of research firms have commented on MX. Needham & Company LLC reaffirmed a “hold” rating on shares of Magnachip Semiconductor Corp. in a report on Sunday, May 8th. Topeka Capital Markets lifted their target price on shares of Magnachip Semiconductor Corp. from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Friday, May 6th.
The stock’s 50-day moving average is $7.02 and its 200 day moving average is $5.71. The stock’s market capitalization is $298.69 million.
Magnachip Semiconductor Corp. (NYSE:MX) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.20. The firm had revenue of $167.10 million for the quarter, compared to analyst estimates of $159 million. On average, equities research analysts expect that Magnachip Semiconductor Corp. will post ($0.28) earnings per share for the current fiscal year.
In related news, major shareholder Pleasant Lake Partners Llc sold 58,000 shares of the 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 transaction was disclosed in a document filed with the SEC, which is accessible 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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