Why MagnaChip Semiconductor Stock Popped Today

·2-min read
Why MagnaChip Semiconductor Stock Popped Today

Shares of South Korean semiconductor manufacturer MagnaChip Semiconductor (NYSE: MX) jumped out of the gate Monday and are up 4.3% as of 11:30 a.m. EDT after the company crushed its third-quarter earnings report this morning. Heading into the third quarter, analysts had forecast that MagnaChip would earn $0.22 per share on $126.9 million in sales. Actual earnings when calculated according to generally accepted accounting principles (GAAP) were only $0.23 per share.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting