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Shares of Magnachip Semiconductor Corp (NYSE:MX) climbed Friday. The move follows a volatile week for South Korean chipmaker marked by a sharp post-earnings selloff.
Recovery From Earnings Dip
The stock fell nearly 30% Wednesday after the company issued in-line second-quarter guidance. Magnachip Semiconductor projects second-quarter sales between $44.5 million and $48.5 million. This range sits right against the $46.5 million analyst consensus.
First-quarter results beat expectations. The company reported a loss of 11 cents per share. This outperformed the 22-cent loss predicted by analysts.
Quarterly sales reached $46.208 million, also topping estimatesn, according to Benzinga Pro.
Critical Levels To Watch for …
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