Magnachip rises after expanding share buyback plan

MagnaChip Semiconductor

12/09/2022 15:44

** Shares in Magnachip  MX.N  rise 1.5% to $11.98
    ** Says can now repurchase $87.5 million of its stock, up
from previous plan of $75 million  urn:newsml:reuters.com:*:nPnmml6Ma
    ** Magnachip has already repurchased shares worth $37.5 mln 
    ** As of last close, Magnachip had a market capitalization
of $529.9 million, according to Refinitiv
    ** Magnachip had cash and cash equivalents of $273.8 million
as of June 30  urn:newsml:reuters.com:*:nPn2dQ9yqa
    ** Shares have fallen 43% this year

 (Reporting by Praveen Paramasivam)
 ((Praveen.Paramasivam@thomsonreuters.com;))