Magnachip Semiconductor Corp N Stock Price, News & Analysis

Magnachip Semiconductor (NYSE: MX) has scheduled its fourth quarter 2024 financial results announcement for March 12, 2025, before market opens. The company will host two key events on the same day:

1. A conference call at 5:30 a.m. PT / 8:30 a.m. ET to discuss financial results

2. An in-person sell-side analyst briefing in New York City at 10:00 a.m. ET, led by CEO YJ Kim and CFO Shinyoung Park

Both events will be webcast live and require advance online registration. Materials from both presentations will be accessible through the company's website investor section.

Magnachip Semiconductor (NYSE: MX) reported Q3 2024 consolidated revenue of $66.5 million, reaching the high end of guidance. Standard product business revenue increased 25.9% sequentially and 24% year-over-year. Q3 gross profit margin was 23.3%. The company ended Q3 with $121.1 million in cash and $30 million in non-redeemable short-term investments. For Q4 2024, Magnachip expects consolidated revenue between $59-64 million. The company maintains its full-year guidance for double-digit growth in both MSS and PAS businesses, with consolidated revenue projected to be flattish and gross profit margin between 21-22%.

Magnachip Semiconductor (NYSE: MX) announced the expansion of production for its 7th generation MXT LV MOSFETs, featuring Super Short Channel FET technology. Production grew approximately 120% in the first three quarters of 2024 compared to the previous year. The company's MOSFETs have been integrated into premium and midrange smartphone models from a major global manufacturer. The technology offers low RSS(on) and uses a 100μm-thin wafer-level chip scale package, making it ideal for mobile devices like smartphones, smartwatches, and wireless earphones.

Magnachip Semiconductor (NYSE: MX) has announced that it will release its financial results for the third quarter ended September 30, 2024, on Wednesday, October 30, 2024, after market close. The company will host a conference call at 2:00 p.m. PT / 5:00 p.m. ET on the same day to discuss the results.

Participants are required to register online in advance to join the conference call. Upon registration, they will receive access details, including dial-in numbers and a PIN. A live and archived webcast of the call, along with a copy of the earnings release, will be available in the 'Investors' section of Magnachip's website at www.magnachip.com.

Magnachip Semiconductor (NYSE: MX) has expanded its automotive power product lineup with the release of four new 40V MXT MV MOSFETs designed for automotive motors and low-power control systems. These new MOSFETs come in Power Dual Flat No-Lead (PDFN) 33 packages, offering a 60% reduction in area and 75% reduction in weight compared to PDFN56 packaged products. Three models feature a low gate threshold voltage of 1.8V, which reduces power consumption. The new MOSFETs are optimized for applications where performance, fuel efficiency, and space flexibility are crucial. This launch strengthens Magnachip's position in the evolving automotive components market, with the company aiming to expand its global presence through technological innovation and stable product supply.

Magnachip Semiconductor reported Q2 2024 revenue of $53.2 million, surpassing the guidance range mid-point. The Standard Product Business revenue grew 11.6% sequentially.

The gross profit margin was 21.8%, exceeding the guidance range. Cash reserves stood at $132.5 million with an additional $30 million in short-term financial investments. The company completed a share repurchase of 0.5 million shares worth $2.3 million.

Operational highlights include the opening of a new subsidiary in China, a purchase commitment for OLED drivers, and sampling next-gen OLED drivers and smartwatches. Automotive sector rebounded with new design wins. The company launched a new IGBT for solar applications expected to enter mass production in H2 2024.

For Q3 2024, revenue is expected between $61.5 million and $66.5 million with an improved gross profit margin of 22.5%-24.5%.

Magnachip Semiconductor (NYSE: MX) has unveiled its first 8th-generation MXT LV MOSFET designed with Super-Short Channel FET II technology for smartphone battery protection circuits. The new 12V Dual N-channel MOSFET (MDWC12D024PERH) features a 22% reduction in RSS(on) compared to the previous generation, leading to decreased power loss, faster charging times, and a 12% lower internal temperature in fast charging mode.

This high-efficiency MOSFET is optimized for premium smartphones, particularly those with on-device AI capabilities. Market research firm Omdia projects on-device AI smartphone shipments to grow at a 50% annual rate from 2024 to 2028, reaching 606 million units in 2028. Magnachip plans to continue developing innovative high-density cell trench technology and launch advanced power solutions for smartphones, smartwatches, and earphones in the second half of 2024.

Magnachip Semiconductor (NYSE: MX) has announced the completion of its 1200V 75A Insulated Gate Bipolar Transistor (IGBT) in a TO-247PLUS package, designed for solar inverters. The new product, MBQA75T120RFS, is set for mass production in October 2024. It features improved heat dissipation and over 14% reduction in conduction loss compared to its predecessor. The IGBT includes a fast recovery anti-parallel diode and can operate at temperatures up to 175°C.

This release expands Magnachip's solar energy power product lineup, which now includes high-performance IGBTs and MXT MV MOSFETs. The company entered the solar inverter market in 2020 and has been steadily expanding its offerings. According to Omdia, the discrete IGBT and silicon-based MOSFET sectors in the renewable energy market are expected to grow at a 15% CAGR from 2024 to 2028.

Magnachip Semiconductor (NYSE: MX) will announce its second quarter financial results for the period ending June 30, 2024, on July 31, 2024, after market close. The company has scheduled a conference call on the same day at 2:00 p.m. PT / 5:00 p.m. ET to discuss these results. Interested parties must register online in advance to receive the necessary access details, including dial-in numbers and a PIN. The event will be accessible via live and archived webcast on Magnachip's investor relations webpage.