India, Sept. 21 -- Magnachip Semiconductor Corporation (MX) is up 18.25 percent, gaining $0.50 to $3.25 on Monday. The move comes after Navitas Semiconductor agreed to make a $5 million strategic equity investment in Magnachip.
Magnachip Semiconductor is currently trading at $3.25, up from the previous close of $2.75 after opening at $3.47 on the New York Stock Exchange. The stock has traded between $3.09 and $3.48 during the session, with trading volume at 3.07 million shares versus average volume of 842,712.
Under the privately negotiated agreement, Magnachip will issue 1,461,988 shares to Navitas at $3.42 per share, with the transaction expected to close around September 24, 2026. Shares have traded between $2.18 and $9.86 over the pas...