MoSys Inc. (NASDAQ:MOSY) shares gapped up before the market opened on Tuesday after the company announced better than expected quarterly earnings. The stock had previously closed at $1.96, but opened at $1.94. MoSys shares last traded at $1.94, with a volume of 2362200 shares.
The semiconductor producer reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.06. MoSys had a negative return on equity of 106.31% and a negative net margin of 120.65%. The firm had revenue of $3.79 million for the quarter.
Separately, Benchmark raised MoSys from a “hold” rating to a “buy” rating in a report on Wednesday, November 15th.
MoSys, Inc (MoSys), together with its subsidiaries, is a fabless semiconductor company focused on the development and sale of integrated circuits (ICs) for the high-speed networking, communications, storage and computing markets. The Company has developed approximately two IC product lines under the Bandwidth Engine and LineSpeed product names.
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