MX

Magnachip Semiconductor Corporation

13.42
USD
2.84%
13.42
USD
2.84%
12.05 22.28
52 weeks
52 weeks

Mkt Cap 602.48M

Shares Out 44.89M

Chat
Send me real-time posts from this site at my email

Why MagnaChip Semiconductor Stock Is Soaring Today

What happened Shares of MagnaChip Semiconductor (NYSE: MX) were skyrocketing this morning on a report that LX Group is looking to acquire the company, according to the Korea Economic Daily website. The tech stock was up by 17.6% as of 11:17 a.m. ET on Tuesday. So what According to the news report, LX Group, a South Korean company, will make a formal bid to acquire MagnaChip as early as next week, though the details of the potential deal haven't been disclosed. LX Group wants to buy the company in order to create synergies between its semiconductor company, LX Semicon, and MagnaChip. The latter company is a leader in display driver integrated circuits (DDIC), with 30% market share. MagnaChip has been looking for a buyer ever since a deal with a private Chinese equity firm fell through back in December. Rising tensions between the U.S. and China might have led to the deal being blocked, as U.S. officials were concerned about national security issues, according to the Korea Economic Daily. Now what Nothing official about the potential deal has been disclosed by LX Group or MagnaChip Semiconductor, so investors might want to temper some of their expectations. If a deal is disclosed soon, it will also have to be approved before anything is finalized. But it's clear that investors are hoping such a deal does happen, and with the company's share price down 31% over the past 12 months -- even with today's massive price jump -- it's not surprising that investors are looking for some good news. 10 stocks we like better than MagnaChip Semiconductor When our award-winning analyst team has a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* They just revealed what they believe are the ten best stocks for investors to buy right now... and MagnaChip Semiconductor wasn't one of them! That's right -- they think these 10 stocks are even better buys. *Stock Advisor returns as of April 7, 2022 Chris Neiger has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Founded in 1993 in Alexandria, VA., by brothers David and Tom Gardner, The Motley Fool is a multimedia financial-services company dedicated to building the world's greatest investment community. Reaching millions of people each month through its website, books, newspaper column, radio show, television appearances, and subscription newsletter services, The Motley Fool champions shareholder values and advocates tirelessly for the individual investor. The company's name was taken from Shakespeare, whose wise fools both instructed and amused, and could speak the truth to the king -- without getting their heads lopped off.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue