Magnachip Semiconductor Corp (MX) said after close Thursday that it lost $0.04 per share in quarter three 2023. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $61.2 million, missing estimates by $585 thousand.
In the same quarter a year ago, the company earned $0.02 per share on revenue of $71.2 million.
The stock is down 5.67% to $7.32 after the report.
The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned Magnachip Semiconductor Corp a Bullish Sentiment Rank from InvestorsObserver.
Magnachip Semiconductor Corp has performed a little below average during the past few months. Before the report, Magnachip Semiconductor Corp received a Long-Term Technical Rank by InvestorsObserver of 35, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $7.07 on October 26, 2023 and set a 52-week high on June 9, 2023 at $11.68.
MagnaChip Semiconductor Corp designs and manufactures analog and mixed-signal semiconductor platform solutions for communications, Internet of Things applications, consumer, industrial and automotive applications. The company's product portfolio consists of large display solutions, mobile display solutions, sensor solutions, LED solutions, mobile solutions, and power conversions. The company operates in two segments namely Transitional Fab 3 foundry services and Standard products business. It generates maximum revenue from the Standard products business segment. Geographically, it derives a majority of revenue from the Asia Pacific.
News Home
Magnachip Semiconductor Corp Down 5.67% To $7.32 After Earnings Beat
Mentioned in this article
