MAGNACHIP SEMICONDUCTOR Reports Second Quarter FY2023 Earnings Results on August 7, 2023
August 12, 2023
🌥️Earnings Overview
On August 7 2023, MAGNACHIP SEMICONDUCTOR ($NYSE:MX) reported their earnings results for the second quarter of FY2023, which ended on June 30 2023. Revenue totaled USD 61.0 million, a decrease of 39.9% from the same quarter the previous year. Net income was -4.0 million, compared to -3.3 million in the prior year.
Stock Price
On Monday, MAGNACHIP SEMICONDUCTOR stock opened at $9.2 and closed at $9.1, down by 1.6% from the previous closing price of $9.3. The company’s stock performance was largely affected by the release of its earnings report. Investors responded negatively to the decrease in revenue and profits, leading to a decline in MAGNACHIP SEMICONDUCTOR share prices. As a result, the company’s stock opened at $9.2 and eventually closed at $9.1 on Monday, down by 1.6% from its previous closing price of $9.3. 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
We at GoodWhale recently performed an analysis of MAGNACHIP SEMICONDUCTOR‘s financial wellbeing. Using our Star Chart, we concluded that MAGNACHIP SEMICONDUCTOR has a high health score of 8/10. After close examination of their cashflows and debt, we found that they are able to pay off debt and fund future operations. We found that MAGNACHIP SEMICONDUCTOR is strong in asset, medium in profitability and weak in dividend, growth. Through our classification system, we identified MAGNACHIP SEMICONDUCTOR as an ‘elephant’, a type of company that is rich in assets after deducting off liabilities. Given their robust assets and solid cashflow, MAGNACHIP SEMICONDUCTOR would be attractive to investors who favour stability and security over quick returns and growth. Investors who are looking for a safe bet with steady returns may be interested in such a company. 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
MAGNACHIP SEMICONDUCTOR reported their second quarter FY2023 earnings on August 7th, with total revenue of USD 61.0 million, a decrease of 39.9% year-on-year. Net income was USD -4.0 million, compared to -3.3 million in the previous year. Investors may be disappointed with the decline in both revenue and income, indicating deteriorating financial performance.
With the uncertain outlook of the semiconductor industry, it is difficult to predict the future of MAGNACHIP SEMICONDUCTOR. Investors should exercise caution when making decisions regarding the company and conduct thorough due diligence before investing in its stock.
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