---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-204990"
form_type: "8-K"
ticker: "MX"
cik: "0001325702"
company_name: "MAGNACHIP SEMICONDUCTOR Corp"
filed_at: "2023-08-07T23:59:59+00:00"
generated_at: "2026-06-12T03:52:38.370730+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Magnachip Q2 revenue $61.0M (down 39.8% YoY); announces $50M stock buyback

## Summary
- Revenue $61.0M, down 39.8% YoY but up 7% sequentially; GAAP diluted loss $0.09, adjusted loss $0.06.
- Gross margin 22.2%, up 100 bps QoQ from higher Gumi Fab utilization.
- Ended Q2 with $173M cash, no debt; completed $25.5M buyback in the quarter.
- Board authorized a new $50M stock buyback program.
- Power Solutions revenue $41.7M (+2.6% QoQ) on Industrial/Auto; Display Solutions down 65.9% YoY.

## SEC filing metadata
- accession: 0001193125-23-204990
- form_type: 8-K
- ticker: MX
- cik: 0001325702
- company_name: MAGNACHIP SEMICONDUCTOR Corp
- filed_at: 2023-08-07T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1325702/000119312523204990/0001193125-23-204990-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1325702/000119312523204990/d482998d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-204990
- JSON: https://secwatch.observer/filing/0001193125-23-204990.json
- Plain text: https://secwatch.observer/filing/0001193125-23-204990.txt

## Key facts
- Earnings Releases
  MAGNACHIP SEMICONDUCTOR Corp reported the second quarter ended June 30, 2023 results: revenue $61.0 million, net income (3,947 ), EPS $(0.09).
  - Period: the second quarter ended June 30, 2023
  - Revenue: $61.0 million
  - Net income: (3,947 )
  - EPS: $(0.09)
  - Result: reported results
  source text: in such filing. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Magnachip Reports Results for Second Quarter 2023 Announces New $50 Million Stock Buyback Program • Revenue of $61.0 million was in-line with guidance (vs $60.5M mid-point) and was down 39.8% YoY and up 7% sequentially. • Gross profit margin was 22.2%, up 100 basis points from Q1. The sequential
  evidence_url: https://www.sec.gov/Archives/edgar/data/1325702/000119312523204990/0001193125-23-204990-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.