Magnachip Reports Results for First Quarter 2024 [Yahoo! Finance]
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
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Source: Yahoo! Finance
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 Highlights Secured 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 the after-service market. Captured our first medium voltage MOSFET automotive
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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