NYSE:MXSemiconductor
Magnachip Semiconductor (MX) Stock Rebounds As Margin Beat Eases Loss Concerns
Magnachip Semiconductor jumped 6.6% to US$3.90 today, which looks more like a big sigh of relief than a clear verdict on the quarter. The stock came in with weak 30 day and 90 day returns, so traders were primed to react to any hint that the story might be stabilising.
The headline is simple. Revenue for Q2 stood at US$44.7m while the company stayed in the red with a basic loss per share of US$0.21. Gross margin landed at 19.3%, just above guidance. The market is treating that margin beat as...