secwatch.observer — SEC 8-K summary
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Issuer:     MAGNACHIP SEMICONDUCTOR Corp (MX)
CIK:        0001325702
Form:       8-K
Filed at:   2023-08-07T23:59:59+00:00
Accession:  0001193125-23-204990
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325702/000119312523204990/0001193125-23-204990-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325702/000119312523204990/d482998d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-204990

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