🟢 MagnaChip Semiconductor is trading 5.3% up today after reporting a Q2 gross margin beat

MagnaChip Semiconductor is trading 5.32% up now at $3.17 after reporting mixed second-quarter results and a softer third-quarter outlook.

• The company’s gross margin of 19.3% beat guidance, providing a positive catalyst despite a revenue miss.
• Revenue of $44.7 million came in below estimates as management flagged ongoing supply constraints.
• The stock remains higher even as the company issued a cautious outlook for the upcoming third quarter.