Welcome to our dedicated page for Magnachip Semiconductor news (Ticker: MX), a resource for investors and traders seeking the latest updates and insights on Magnachip Semiconductor stock.
Magnachip Semiconductor Corporation (NYSE: MX) is a pioneering South Korean company specializing in the design and manufacture of analog and mixed-signal semiconductor products for high-volume consumer applications. With over 40 years of experience, Magnachip has established itself as a leading provider of semiconductor solutions across multiple sectors, including communications, Internet of Things (IoT), consumer electronics, industrial applications, and automotive industries.
Magnachip's extensive product portfolio includes large and mobile display solutions, sensor solutions, LED solutions, mobile solutions, and power conversion products. The company's offerings are crucial for devices ranging from OLED TVs and servers to lighting products, laptop chargers, and automotive systems. Magnachip's commitment to innovation is evident in its recent introduction of two new 650V Super Junction Metal-Oxide-Semiconductor Field-Effect Transistors (SJ MOSFETs), which boast significantly reduced size and enhanced performance, making them ideal for applications demanding compact size and high efficiency.
The company's operations are divided into two main segments: Transitional Fab 3 foundry services and Standard Products business. Magnachip's services and products cater to a global market, with significant operations in Korea, the Asia Pacific region, the United States, and Europe.
Financially, Magnachip has shown resilience amid market challenges. The company reported steady financial results for the third quarter of 2023, with CEO YJ Kim emphasizing their strategic focus on expanding their display and power product portfolios. Despite the global geopolitical and macroeconomic uncertainties, Magnachip remains optimistic about long-term growth, driven by its robust product offerings and strategic market positions.
Recent developments include the full-scale mass production of the new 30V MXT LV MOSFETs for Electric Power Steering (EPS) systems, underscoring Magnachip's expansion into the automotive sector. This product features a highly rugged trench MOSFET structure, offering low resistance and excellent switching characteristics, which are critical for high power efficiency and reduced noise in automotive applications.
Magnachip's leadership in the semiconductor industry is supported by its extensive patent portfolio, with approximately 1,100 registered patents and pending applications. The company's dedication to rigorous quality control and innovative manufacturing processes ensures that it remains at the forefront of technological advancements in the semiconductor industry.
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.
Magnachip Mixed-Signal, a subsidiary of Magnachip Semiconductor (NYSE: MX), has announced the release of a new Power Management Integrated Circuit (PMIC) and a multi-channel level shifter. These products aim to enhance efficiency and reduce power consumption in display panels for IT devices.
The PMIC integrates several components into a single chip and can dynamically manage voltage through I²C control. The level shifter regulates voltages across over 24 channels, catering to high-resolution and UHD display panels. Developed since 2019, these solutions are a result of Magnachip's extensive R&D efforts and successful collaborations with leading manufacturers.
Magnachip Semiconductor (NYSE: MX) has officially opened the Magnachip Technology Company (MTC) in Hefei, China, to advance its display driver IC and power IC businesses in the region. Established on December 20, 2023, MTC aims to leverage Hefei's robust IC industrial cluster and talent pool. The new subsidiary will focus on OLED Display Driver IC and power management IC capabilities to meet the demands of the Chinese consumer market.
Additionally, MTC plans to set up branch offices in Beijing, Chengdu, and Shenzhen to enhance communication and market responsiveness. With over 40 years of expertise and around 1,100 registered patents, Magnachip aims to solidify its presence and commitment to long-term growth in China.
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