Magnachip Semiconductor Corporation (NYSE:MX) Q4 2023 Earnings Call Transcript February 28, 2024 Magnachip Semiconductor Corporation beats earnings expectations. Reported EPS is $-0.21, expectations were $-0.3. Magnachip Semiconductor Corporation isn’t one of the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here). Operator: Thank you for standing […]
Shares of semiconductor manufacturer Magnachip Semiconductor (NYSE:MX) fell 15.9% in the morning session after the company reported fourth-quarter results, with revenue and gross margin falling below expectations. In addition, its full-year 2024 revenue and operating profit guidance fell short of Wall Street's estimates as the company announced it would transition its Gumi Fab from lower-margin Transitional Foundry Services products to higher-margin Power products. Magnachip announced that start
Semiconductor manufacturer Magnachip Semiconductor (NYSE:MX) fell short of analysts' expectations in Q4 FY2023, with revenue down 16.7% year on year to $50.82 million. Next quarter's revenue guidance of $48.5 million also underwhelmed, coming in 9.8% below analysts' estimates. It made a non-GAAP loss of $0.21 per share, improving from its loss of $0.36 per share in the same quarter last year.
Announces successful design-wins with Smartphone Chinese OEMs
Financial Highlights
Q4 revenue of $50.8 million was near the low-end of our guidance range.
Q4 gross profit margin was 22.7%,.