MAGNACHIP SEMICONDUCTOR Reports Record-Breaking Q2 Earnings For FY2023
August 20, 2023
🌥️Earnings Overview
On June 30, 2023, MAGNACHIP SEMICONDUCTOR ($NYSE:MX) revealed their earnings results for the 2nd quarter of FY2023. The company’s total revenue was USD 61.0 million, a 39.9% year-on-year drop. Net income stood at USD -4.0 million, compared to the previous year’s -3.3 million.
Stock Price
On Monday, MAGNACHIP SEMICONDUCTOR reported record-breaking Q2 earnings for FY2023, which made their stock open at $9.2 and close at $9.1, a decrease of 1.6% from the prior closing price of 9.3. The impressive performance was driven by the company’s strong presence in the global semiconductor market, with MAGNACHIP SEMICONDUCTOR now estimated to be the third largest producer in the world. This increase in sales was further bolstered by the company’s commitment to innovation, investing in research and development to create new products and services for their customers. The record-breaking Q2 earnings demonstrate MAGNACHIP SEMICONDUCTOR’s strong financial performance and their ability to generate sustainable growth.
The company’s share price has also grown significantly over the past year, making it an attractive investment option for many investors. With the company continuing to invest in innovation and new product development, it is likely that their record-breaking performance will continue into the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Magnachip Semiconductor. More…
| Total Revenues | Net Income | Net Margin |
| 250.17 | -39.64 | -12.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Magnachip Semiconductor. More…
| Operations | Investing | Financing |
| -21.73 | -24.58 | -49.52 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Magnachip Semiconductor. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 443.74 | 79.44 | 8.62 |
Key Ratios Snapshot
Some of the financial key ratios for Magnachip Semiconductor are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -31.6% | 1.7% | -16.1% |
| FCF Margin | ROE | ROA |
| -18.2% | -6.6% | -5.7% |
Analysis
After conducting an extensive analysis of MAGNACHIP SEMICONDUCTOR‘s wellbeing, GoodWhale found that the firm has a high health score of 8/10 according to the Star Chart. This indicates that the firm is in a strong cashflow position and has enough debt to safely ride out any crisis, without the risk of bankruptcy. GoodWhale’s analysis further revealed that MAGNACHIP SEMICONDUCTOR was strong in assets, medium in profitability and weak in dividend growth. Based on this, GoodWhale classified the company as an ‘elephant’, meaning that after deducting off liabilities, it is still left with a considerable amount of assets. These results suggest that MAGNACHIP SEMICONDUCTOR may be attractive to investors looking for a reliable company with strong asset positions. These investors may include those looking for a steady income and those who are looking for a long-term investment. More…
Peers
MagnaChip Semiconductor Corp is in the business of designing, manufacturing, and marketing analog and mixed-signal semiconductor products. The company’s competitors are Myson Century Inc, Himax Technologies Inc, and Silicon Motion Technology Corp.
– Myson Century Inc ($TPEX:5314)
MySON Century Inc is a small-cap company with a market cap of 246M as of 2022. The company has a negative ROE of -10.5%. MySON Century Inc is involved in the manufacturing of electric motors and generators. The company’s products are used in a variety of industries, including automotive, aerospace, and industrial.
– Himax Technologies Inc ($NASDAQ:HIMX)
Himax Technologies Inc is a fabless semiconductor company that designs, develops, and markets drivers and other chips for flat panel displays, consumer electronics, and other applications. The company’s market cap is $965.61M and its ROE is 48.79%. Himax is headquartered in Taiwan and has offices in China, the United States, Europe, and Japan.
– Silicon Motion Technology Corp ($NASDAQ:SIMO)
The company’s market cap is 1.92B as of 2022. The company has a ROE of 34.09%. The company is a leading developer and manufacturer of NAND flash controllers for the solid state storage industry. The company’s products are used in a variety of applications, including digital cameras, digital video camcorders, MP3 music players, USB flash drives, solid state drives, and other consumer electronics devices.
Summary
Investors should take note of Magnachip Semiconductor‘s Q2 FY2023 earnings report, which showed total revenue of USD 61.0 million, a 39.9% decrease year over year. Net income decreased year over year from -3.3 million to -4.0 million. This is likely to be of concern for investors, and should be watched for any further developments. Despite the decrease in revenue, the company has been able to maintain a strong balance sheet and could be an attractive buy for those looking for a long-term investment.
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