secwatch.observer — SEC 8-K summary
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Issuer:     MAGNACHIP SEMICONDUCTOR Corp (MX)
CIK:        0001325702
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001193125-23-269394
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Magnachip Q3 2023 revenue $61.2M inline; GAAP loss $0.13/sh, cash $166.6M no debt
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- Revenue $61.2M in-line; GAAP diluted EPS -$0.13, non-GAAP -$0.04; operating loss $9.2M.
- Gross margin 23.6% up 140bp QoQ; Power Solutions revenue $45.2M (+8.4% QoQ, -19.9% YoY).
- Ended Q3 with $166.6M cash, zero debt; repurchased $5.4M stock during quarter.
- Internal separation of Display and Power businesses expected effective Jan 1, 2024.
- CEO expects soft demand from Q4 seasonality and inventory correction; maintains long-term OLED optimism.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1325702/000119312523269394/0001193125-23-269394-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1325702/000119312523269394/d557243d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-269394

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer