MagnaChip Ratifies $75M Share Buyback

MagnaChip Semiconductor Corp's MX board approved a share buyback program of up to $75 million.
MagnaChip forged an accelerated stock repurchase agreement with JPMorgan Chase Bank, National Association to repurchase an aggregate of $37.5 million of Magnachip's common stock.
MagnaChip held $276.3 million in cash and equivalents and generated $19.7 million in operating cash flow as of September 30.
MagnaChip designs and manufactures analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, and consumer, industrial, and automotive.
Price Action: MX shares traded higher by 1.59% at $19.15 in the premarket session on the last check Wednesday.

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Growth18.65

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