diff --git a/IPython/extensions/cythonmagic.py b/IPython/extensions/cythonmagic.py
index 8eff5e2..1df58e2 100644
--- a/IPython/extensions/cythonmagic.py
+++ b/IPython/extensions/cythonmagic.py
@@ -147,6 +147,10 @@ class CythonMagics(Magics):
              "multiple times)."
     )
     @magic_arguments.argument(
+        '-n', '--module_name', action='append', default=[],
+        help="Specify a name for the Cython module."
+    )
+    @magic_arguments.argument(
         '-L', dest='library_dirs', metavar='dir', action='append', default=[],
         help="Add a path to the list of libary directories (can be specified "
              "multiple times)."
@@ -204,7 +208,10 @@ class CythonMagics(Magics):
             # key which is hashed to determine the module name.
             key += time.time(),
 
-        module_name = "_cython_magic_" + hashlib.md5(str(key).encode('utf-8')).hexdigest()
+        if args.module_name:
+            module_name = str(args.module_name[0])
+        else:
+            module_name = "_cython_magic_" + hashlib.md5(str(key).encode('utf-8')).hexdigest()
         module_path = os.path.join(lib_dir, module_name + self.so_ext)
 
         have_module = os.path.isfile(module_path)