Revenue Update on Magnachip Semiconductor Corp(NYSE:MX)

Magnachip Semiconductor Corp(NYSE:MX) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $167.11M. Analysts estimated a revenue of $159.00M. Earnings per share were $-0.05. Analysts had estimated an EPS of $-0.25.

Magnachip Semiconductor Corp (MX) made into the market gainers list on Fridays trading session with the shares advancing 1.21% or 0.09 points. Due to strong positive momentum, the stock ended at $7.52, which is also near the day’s high of $7.52. The stock began the session at $7.48 and the volume stood at 2,41,233 shares. The 52-week high of the shares is $9.88 and the 52 week low is $3.1. The company has a current market capitalization of $261 M and it has 3,47,31,754 shares in outstanding.

MagnaChip Semiconductor Corporation is a holding company which is a designer and manufacturer of analog and mixed-signal semiconductor products for consumer computing communication industrial automotive and Internet of things (IoT) applications. The Company operates through three business lines: Display Solutions Power Solutions and Semiconductor Manufacturing Services. Its Display Solutions products provide flat panel display solutions to suppliers of large and small flat panel display and include MagnaChip sensor products for mobile applications and industrial applications. The Company’s Power Solutions products include modules and integrated circuit solutions for power management in consumer computing communication and industrial applications. Its Semiconductor Manufacturing Services provide analog and mixed-signal foundry services mainly for fabless and certain integrated device manufacturer (IDM) semiconductor companies.

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