Magnachip Semiconductor Corp N Stock Price, News & Analysis

Magnachip Semiconductor Corporation (NYSE: MX) reported Q4 2021 revenues of $110.3 million and a non-GAAP diluted EPS of 31 cents, despite supply constraints impacting OLED revenue. Full-year 2021 revenue declined due to ongoing shortages, especially for 28nm 12" OLED wafers, but profitability improved across key measures. Operating income rose 208.7% year-over-year to $83.4 million. The company expects Q1 2022 revenue between $102 million and $108 million, with a gross profit margin of 34.5% to 36.5% amidst persistent supply challenges.

Magnachip Semiconductor Corporation (NYSE: MX) will report its fourth-quarter and full-year 2021 results on February 16, 2022, after market close. A conference call will follow at 2:00 p.m. PT to discuss the financials. Interested participants can join by dialing 1-844-536-5472 (US/Canada) or 1-614-999-9318 (international). The conference ID is 1582546. A live webcast and archived replay will be available on Magnachip's website. The company specializes in analog and mixed-signal semiconductor solutions across various applications.

Magnachip Semiconductor Corporation (NYSE: MX) has launched a new generation of 600V SJ MOSFETs, improving switching functionality by over 10% compared to previous models. The mass production is set to start in March 2022. With a range of applications including TVs and industrial power supplies, these MOSFETs feature Rds(on) values between 190-580mOhm. Cumulative shipments have reached 2 billion units since 2013. The increased demand for premium TVs is anticipated to boost MOSFET sales.

Magnachip Semiconductor Corporation (NYSE: MX) announced the launch of a new generation of Low-Voltage Metal Oxide Semiconductor Field Effect Transistors (LV MOSFETs) aimed at enhancing battery Protection Circuit Modules in smartphones. These 6.5G MOSFETs feature a 20% reduction in Rss(on), improving heat dissipation and reducing current loss. Mass production began last month, with the product already utilized in flagship models from major smartphone manufacturers. The global smartphone market is projected to grow 6.3% in 2022, further driving demand for these advanced components.

Magnachip Semiconductor Corporation (NYSE: MX) announced participation at the 24th Annual Needham Virtual Growth Conference on January 13-14, 2022. CEO YJ Kim and CFO Shinyoung Park will host one-on-one meetings and participate in a fireside chat on January 14 at 4:15 PM ET in Track 3. A live webcast of the chat will be available on the Company's website and archived for 90 days. Magnachip specializes in analog and mixed-signal semiconductor solutions for various applications and holds a portfolio of approximately 1,200 registered patents.

Magnachip Semiconductor (NYSE: MX) is expanding its organic light-emitting diode display driver integrated circuit (OLED DDIC) lineup with a next-generation product for automotive displays. This new DDIC, based on 40nm process technology, is designed for center stack and instrument cluster displays. It supports FHD resolution and integrates source drivers, gate drivers, and timing controllers into a single chip, enhancing cost-effectiveness. The automotive display market is projected to grow from $8.2 billion in 2021 to $9.7 billion by 2025, with global automotive OLED panel revenue expected to surge 350% to $524 million during the same period.

Magnachip Semiconductor Corporation (NYSE: MX) has appointed Ms. Shinyoung Park as the new Chief Financial Officer, effective January 1, 2022. She takes over from Dr. Young Soo Woo, who resigned on December 31, 2021. Ms. Park has been with Magnachip since 2014, previously serving as Chief Accounting Officer and Corporate Controller. CEO YJ Kim praised her leadership and experience, highlighting her role in strengthening the finance and accounting teams, as the company aims for sustainable growth and long-term value delivery.

Magnachip Semiconductor Corporation (NYSE: MX) has announced a new stock repurchase program, authorizing the buyback of up to $75 million of its common stock. An initial step in this program is an accelerated stock repurchase agreement with JPMorgan Chase for $37.5 million, during which Magnachip will purchase approximately 1.0 million shares. This move reflects the company's confidence in its financial strength and growth strategy, aimed at enhancing shareholder value. Final settlement for this buyback is anticipated by the end of Q1 2022.