Added to YB: 2026-04-29
Pitch date: 2026-04-27
MX [neutral]
Magnachip Semiconductor Corporation
-2.01%
current return
Author Info
No bio for this author
Company Info
Magnachip Semiconductor Corporation, together with its subsidiaries, designs, manufactures, and supplies analog and mixed-signal semiconductor platform solutions for communications, the Internet of Things, consumer, computing, industrial, and automotive applications.
Market Cap
$191.3M
Pitch Price
$4.97
Price Target
N/A
Dividend
N/A
EV/EBITDA
-8.08
P/E
-13.34
EV/Sales
0.75
Sector
Semiconductors and Semiconductor Equipment
Category
turnaround
Magnachip Write-up w/Mgmt Analysis (MX).
MX (overview): Korea power semi turnaround w/ Display exit, new mgmt, 55 new products in '25 vs 4 in '24, >40 more planned '26. FY25 rev $178.9M (-3.7%), gross margin 17.6% (down 390bps), Q4 margin just 9.3%, adj EBITDA -$15.6M, consensus FY26/27 EPS -$0.83/-$0.82. Strategic alternatives underway, Byreforge 8.5% stake. Bulls: Hyundai Mobis IGBT, server/HPC launches, comms +68% YoY. Bears: subscale, China pricing pressure, customer concentration (1 cust 29.7%), losses persist. Net cash $59M (31% of mcap). Trades 1.01x FY26 P/S, 0.71x EV/S. Needs gross margin expansion from mid-teens toward 20-30% for break-even; interim CEO Martino has M&A pedigree (sold Silicon Image). Mgmt quality 6/10: capital discipline improved, operating proof still required.
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