NeoMagic Corp. (OTCMKTS:NMGC) Short Interest Up 716.0% in May

NeoMagic Corp. (OTCMKTS:NMGC) was the target of a significant increase in short interest in May. As of May 29th, there was short interest totaling 8,160 shares, an increase of 716.0% from the May 14th total of 1,000 shares. Based on an average daily trading volume, of 20,409 shares, the days-to-cover ratio is currently 0.4 days.

NeoMagic Trading Up 1.5%

NeoMagic stock traded up $0.00 during midday trading on Wednesday, reaching $0.01. 25,000 shares of the company were exchanged, compared to its average volume of 17,121. The firm’s 50-day simple moving average is $0.01 and its 200-day simple moving average is $0.01. NeoMagic has a 1 year low of $0.01 and a 1 year high of $0.02.

NeoMagic Company Profile

NeoMagic Corporation (OTCMKTS:NMGC) is a fabless semiconductor company headquartered in Saratoga, California, that designs, develops and licenses integrated circuits for low-power multimedia and display applications. Leveraging third-party foundries for manufacturing, NeoMagic’s product portfolio includes system-on-a-chip solutions for portable devices, touchscreen and fingerprint sensor controllers, as well as display interface and video processing IP cores. The company’s technology aims to deliver energy-efficient performance for smartphones, tablets, IoT devices and other embedded applications.

Founded in the mid-1990s, NeoMagic first gained recognition with its MagicMedia graphics and multimedia chips, which were widely adopted by notebook computer manufacturers seeking reduced power consumption and compact form factors.