Magnachip Reports Results for First Quarter 2024
Magnachip Semiconductor Corporation (MX)
Last magnachip semiconductor corporation earnings: 2/19 04:05 pm
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US:NYSE Investor Relations:
investors.magnachip.com/investor-overview
Company Research
Source: Business Wire
Financial HighlightsQ1 consolidated revenue was $49.1 million, within our guidance range of $46-51 million.Q1 standard product business revenue was up 10.6% sequentially.Q1 consolidated gross profit margin was 18.3%, within our guidance range of 17-20%.Q1 standard product business gross profit margin was down 170 basis points sequentially, mostly due to lower Gumi fab utilization driven by the wind-down of Transitional Foundry Services.Ended Q1 with $29.7 million in long-term borrowing and $171.6 million in cash.Repurchased approximately $4.1 million or 0.6 million shares during the quarter.Operational HighlightsSecured a new high-end smartphone OLED DDIC design for a top tier China smartphone OEM.Secured a new EV automotive OLED DDIC design win for a leading European automaker.Began operations of our new China entity called Magnachip Technology Company (MTC). Our China headquarters is now up and running.Started initial ramp in Q1 for our first-generation OLED DDIC chip for China for
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News
- Magnachip Celebrates the Grand Opening of Magnachip Technology Company in China [Yahoo! Finance]Yahoo! Finance
- Magnachip Celebrates the Grand Opening of Magnachip Technology Company in ChinaBusiness Wire
- Magnachip: Buy The Stock For Cash On The Balance Sheet, Get The Chip Business For $1 Per Share [Seeking Alpha]Seeking Alpha
- Magnachip Semiconductor Co. (NYSE: MX) had its price target lowered by analysts at Roth Mkm from $10.00 to $8.00. They now have a "buy" rating on the stock.MarketBeat
- Magnachip Semiconductor Corporation (NYSE:MX) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
MX
Earnings
- 5/2/24 - Beat
MX
Sec Filings
- 5/13/24 - Form 3
- 5/10/24 - Form 10-Q
- 5/2/24 - Form 8-K
- MX's page on the SEC website