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MagnaChip Semiconductor Corporation (MX)

  • Fri, Jul. 24, 12:58 PM
    • Buried within the recently-filed proxy materials for MagnaChip's (MX +2%) annual meeting: The company discloses its board has formed a strategic review committee that is "reviewing, considering and evaluating strategic alternatives that may be available to the Company, including the potential sale of all or a substantial portion of the Company."
    • A long list of small and mid-cap chipmakers have been acquired amid the industry's ongoing M&A wave. MagnaChip investor Pleasant Lake Partners (9.95% stake) recently called on the company to "redouble its efforts and be proactive in unlocking and enhancing shareholder value."
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  • Apr. 1, 2014, 3:58 PM
    • The Nikkei reports Apple (AAPL +0.9%) is in talks with Renesas (RNECF) to buy its 55% stake in iPhone LCD driver IC supplier Renesas SP Drivers, and is looking to acquire it for ¥50B ($479M).
    • Sharp (SHCAY) owns 25% of Renesas SP, and Taiwan's Powerchip 20%. Sharp is expected to sell its stake to Apple if the company asks for a a deal after buying Renesas' interest.
    • Apple, which already develops its own app processors and fingerprint sensors, reportedly "wants to meld the design of core display components into overall product development."
    • A deal could be a positive for Himax (HIMX +3.9%) and MagnaChip (MX -0.6%), given Renesas SP's other clients would start looking for alternative LCD driver suppliers. Renesas SP has an estimated ~33% share of the market for small and mid-sized LCD drivers/controllers. It had revenue of ¥60B ($575M) during the fiscal year ending March 31.
    • Earlier: 4.7" iPhone LCD production reportedly set to start
  • Jan. 27, 2012, 3:59 PM
    MagnaChip (MX +8.8%) jumps after announcing earlier that its Korean subsidiary is acquiring Dawin Electronics, a privately held South Korean semiconductor company that designs and manufactures Insulated Gate Bipolar Transistor, Fast Recovery Diode and MOSFET modules. Terms of the deal were not disclosed.
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Company Description
Magnachip Semiconductor Corp is a Korea-based company that designs and manufactures analog and mixed-signal semiconductor products for consumers, computer and communication applications.
Sector: Technology
Country: Korea