NeoMagic Corp. (OTCMKTS:NMGC) Sees Large Drop in Short Interest

NeoMagic Corp. (OTCMKTS:NMGC) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 1,000 shares, a decrease of 89.9% from the April 30th total of 9,910 shares. Based on an average daily volume of 23,960 shares, the short-interest ratio is currently 0.0 days.

NeoMagic Price Performance

Shares of OTCMKTS:NMGC remained flat at $0.01 during trading on Thursday. 21,500 shares of the stock traded hands, compared to its average volume of 9,679. The company has a 50 day simple moving average of $0.01 and a 200-day simple moving average of $0.01. NeoMagic has a 52-week low of $0.01 and a 52-week high of $0.02.

About NeoMagic

NeoMagic Corporation (OTCMKTS:NMGC) is a fabless semiconductor company headquartered in Saratoga, California, that designs, develops and licenses integrated circuits for low-power multimedia and display applications. Leveraging third-party foundries for manufacturing, NeoMagic’s product portfolio includes system-on-a-chip solutions for portable devices, touchscreen and fingerprint sensor controllers, as well as display interface and video processing IP cores. The company’s technology aims to deliver energy-efficient performance for smartphones, tablets, IoT devices and other embedded applications.

Founded in the mid-1990s, NeoMagic first gained recognition with its MagicMedia graphics and multimedia chips, which were widely adopted by notebook computer manufacturers seeking reduced power consumption and compact form factors.