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11.08.25 - 22:21
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Magnachip Semiconductor Announces YJ Kim to Step Down as CEO; Current Board Chairman Camillo Martino Appointed Interim CEO (Business Wire)
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-Board Continues to Explore Strategic Alternatives; CAPEX Plans to Be Cut by Over 50% Through 2027-SEOUL, South Korea--(BUSINESS WIRE)--Magnachip Semiconductor Corporation (NYSE: MX) (“Magnachip” or the “Company”) today announced that YJ Kim has agreed to step down as CEO and as a member of the Board of Directors, effective immediately. Camillo Martino, Chairman of the Board of Directors, has also been appointed Interim Chief Executive Officer, effective immediately.
Magnachip's Interim CEO and Chairman Camillo Martino said, “YJ Kim became CEO during a turbulent period in the Company's history, and has led the firm for the past decade. However, Magnachip now faces several strategic, operational and financial challenges as it transitions to become a pure play power semiconductor company, and this requires new leadership. On behalf of the Board of Directors, I thank YJ for his service and wish him well in his future endeavors.”
Mr. Martino commented, “I am fully committed as Interim CEO and ...
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10.07.25 - 22:09
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Magnachip to Announce Second Quarter 2025 Financial Results on July 31, 2025 (Business Wire)
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SEOUL, South Korea--(BUSINESS WIRE)--Magnachip Semiconductor Corporation ("Magnachip") (NYSE: MX) announced today that it will report its financial results for the second quarter ended June 30, 2025, on Thursday, July 31, 2025, after the market closes. The Company will host a corresponding conference call at 2:00 p.m. PT / 5:00 p.m. ET to discuss its financial results.
In advance of the conference call, all participants must use the following link to complete the online registration process. Upon registering, each participant will receive access details for this event, including the dial-in numbers, a PIN number, and an e-mail with detailed instructions to join the conference call.
Online registration: https://register-conf.media-server.com/register/BIb2356d591003457bb5c262089f689a13
A live and archived webcast of the conference call and a copy of the earnings release will be accessible from the 'Investors' section of the company's website at www.magnachip.com.
About Magnachip Semiconductor Corporation...
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12.05.25 - 22:15
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Magnachip Reports Results for First Quarter 2025 (Business Wire)
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Q1 Results Summary
Consolidated revenue from continuing operations (which includes Power Analog Solutions (“PAS”) and Power IC (“PIC”) businesses) of $44.7 million was in line with the mid-point of our guidance range of $42.0 to $47.0 million. Excluding Transitional Foundry Services, revenue from continuing operations increased 12.1% year-over-year.
Consolidated gross profit margin from continuing operations of 20.9% was above the high-end of our guidance range of 18.5% to 20.5%.
Repurchased approximately 0.3 million shares for an aggregate purchase price of $1.1 million during the quarter and ended Q1 with cash of $132.7 million.
Announced the shutdown of Display business, which is now classified as discontinued operations from Q1 2025.
Q1 2025 Highlights
Q1 was the fourth consecutive quarter of year-over-year growth from continuing operations primarily driven by Power Analog Solutions (PAS) growth in Communications, as well as strength in Power IC.
PAS revenue from the Communication market was u...
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12.03.25 - 11:57
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Magnachip Reports Results for Fourth Quarter and Full-Year 2024 (Business Wire)
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- Announces Transition to Become Pure-Play Power Company; Explores All Strategic Options for Display Business -
Q4 Results Summary
Consolidated revenue of $63 million was above the mid-point of our guidance range of $59.0 to $64.0 million.
Standard Product business revenue was down 5.1% sequentially due primarily to seasonality.
Consolidated gross profit margin of 25.2% was above the high-end our guidance range of 21.5% to 23.5%.
Standard Product business gross profit margin was 26.6%, up 2.2 percentage points sequentially.
Repurchased approximately 0.7 million shares for aggregate purchase price of $2.9 million during the quarter and ended Q4 with cash of $138.6 million.
2024 Highlights
Excluding Transitional Foundry Services, Standard Products business revenue increased 13% year-over-year, with MSS up 22.5% and PAS up 10.2%. Both of these business line growth rates were in line with original guidance for double-digit growth provided at the beginning of 2024.
PAS revenue growth was strongest in Communica...
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12.03.25 - 11:57
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Magnachip Announces Plan to Become a Pure-Play Power Business To Drive Higher Profitability and Maximize Shareholder Value (Business Wire)
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-Company exploring all strategic options for Display to focus on higher-profit potential of Power and Power IC products-
SEOUL, South Korea--(BUSINESS WIRE)--Magnachip Semiconductor Corporation (NYSE: MX) (“Magnachip” or the “Company”) today announced that after a thorough review, its Board of Directors and management team have made the decision to become a pure-play Power company to drive revenue growth, improve profitability, and maximize shareholder value. As a result, the Company is exploring all strategic options for its Display business, which will be classified as discontinued operations when the Company reports Q1 results in May. The Company's strategic options include a sale, merger, joint venture, licensing, and wind-down. It expects to complete this strategic process and exit the Display business by the end of Q2 this year.
Magnachip CEO YJ Kim said, “It was an extremely difficult decision when considering both our valued customers and employees. However, our priority is to maximize ...
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