RTTNews | Oct 25, 2021 11:17AM EDT

11:16 Monday, October 25, 2021 (RTTNews.com) - Magnachip Semiconductor Corp. (MX) shares are rising more than 7 percent after the company announced earnings that beat estimates. The company reported third-quarter earnings of $10,77K or $0.23 per share, compared to $272,962K or $7.74 per share in the prior year. On an adjusted basis, earnings were $0.42 per share. On average, three analysts polled by Thomson Reuters expected the company to earn $0.22 per share.

Third-quarter revenue was $127 million, up 1.8 percent year over year.

Currently, shares are at $19.28, up 7.29 percent from the previous close of $17.97 on a volume of 540,009. For the 52-week period, the shares have traded in a range of $12.75-$26.98 on average volume of 342,810.

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