Seeking Alpha
 

MagnaChip Semiconductor Corporation (MX)

- NYSE
  • Wed, Apr. 15, 2:19 PM
    • Chip stocks are turning in a good day as Intel's Q1 report - it featured a revenue miss, in-line EPS, light Q2 guidance, solid margin and server CPU figures, and a capex budget cut - goes over well with a market that had low expectations following a March warning.
    • Also: Analog/mixed-signal chipmaker Linear Technology is higher after beating FQ3 estimates, offering slightly soft guidance, and reporting healthy bookings
    • After selling off in late March amid concerns about TSMC remarks and forex pressures, the Philadelphia Semi Index (SOXX +1.7%) is again within $4 of a high of $99.57. The Nasdaq is up 0.8%.
    • Linear peers Texas Instruments (TXN +3.2%), Analog Devices (ADI +2.3%), Fairchild (FCS +3.4%), MagnaChip (MX +3.9%), Power Integrations (POWI +3.7%), InPhi (IPHI +4.2%), and ON Semi (ONNN +4%) are among today's standouts.
    • Other gainers include Cree (CREE +3.9%), Audience (ADNC +8.5%), QuickLogic (QUIK +5.2%), Cavium (CAVM +3.1%), and reported Intel buyout target Altera (ALTR +2.4%). Audience (believed to supply a voice processor for the Galaxy S6) could be getting a lift from Samsung remarks about stronger-than-expected Galaxy S6 sales.
    • Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
    | 1 Comment
  • Mon, Mar. 30, 3:13 PM
    • Today's notable tech gainers include industrial laser maker IPG Photonics (IPGP +4.3%), cloud classroom software provider 2U (TWOU +5.8%), California solar installer Solar3D (SLTD +10.3%), Korean analog/mixed-signal chipmaker MagnaChip (MX +6.8%), privileged account security software vendor CyberArk (CYBR +5.3%), haptic tech provider Immersion (IMMR +4.6%), and solar power optimizer maker/recent IPO SolarEdge (SEDG +4.8%). The Nasdaq is up 1.1%.
    • There are relatively few major decliners. The group includes Chinese online video platform Youku (YOKU -4.5%), Chinese solar cell/module maker Yingli (YGE -5.6%), authentication hardware/software provider Vasco (VDSI -3%), and IP licensing firm Marathon Patent Group (MARA -8.8%).
    • Solar3D is now up 97% from a March 18 close of $2.57. SolarEdge is up 23% from last week's $18 IPO price. Immersion might be getting a lift from a Barclays report stating Analog Devices will be supplying converter ICs to help enable haptics support on future iPhones/iPads.
    • Youku has fallen to fresh 52-week lows, and is now down 18% since posting Q4 results and disclosing an SEC inquiry on March 19. Marathon is down 11% since reporting last Thursday.
    • Previously covered: BlackBerry, Altera, Ambarella, OTI, Angie's List, You On Demand, 500.com, Chinese online real estate
    | Comment!
  • Thu, Mar. 19, 5:37 PM
    • Top gainers, as of 5:15 p.m.: PRTA +38.6%. ENVI +33.8%. NE +3.8%. VEC +3.4%. CPN +2.4%.
    • Top losers, as of 5:15 p.m.: MIK -5.3%. AKS -1.9%. DBVT -1.6%. MX -1.6%. H -1.5%.
    | 2 Comments
  • Wed, Mar. 18, 3:05 PM
    • Today's notable tech gainers include data protection software vendor Imperva (IMPV +3.5%), supercomputer maker SGI (SGI +5.3%), analog/mixed-signal chipmaker MagnaChip (MX +6.1%), enterprise cloud healthcare software vendor Castlight (CSLT +7.6%), program guide/content protection IP provider Rovi (ROVI +5.8%), cloud contact center software vendor Zendesk (ZEN +5%), and Web site owner Demand Media (DMD +4.6%). The Nasdaq is up 0.8% following Janet Yellen's market-pleasing remarks.
    • Notable decliners include Chinese EV maker Kandi (KNDI -3.4%), RF backhaul hardware maker DragonWave (DRWI -7.6%), NAND flash controller/4G RF transceiver maker Silicon Motion (SIMO -3.2%), and online money transfer provider Xoom (XOOM -4.9%).
    • Castlight is now up 13% from Friday's close. Rovi, rumored to be weighing strategic options, is two days removed from naming a new sales chief and announcing a licensing deal with Sharp. Kandi has now given back the big Monday gains it saw after posting Q4 results.
    • Xoom's losses are likely tied to Facebook's launch of a money transfer service for Messenger users; Facebook isn't charging any fees for now.
    • Previously covered: Adobe, Wix, Microsemi/Vitesse, Pandora, 500.com, chip equipment makers, Qihoo, MicroVision, Solar3D, Immersion, Netlist, Qunar, eBay, Avid
    | 2 Comments
  • Fri, Mar. 6, 12:45 PM
    • With shares having crashed following the release of the company's Q1-Q3 2014, MagnaChip (MX -2.4%) has adopted a shareholder rights plan "designed to reduce the likelihood that any person or group would gain control of the Company through open market accumulation."
    • MagnaChip's top institutional holders as of Dec. 31 include several hedge funds that could potentially turn activist. Acadian Asset Management and Steven Cohen's Point72 Asset Management each had 4.2% stakes, and Brigade Capital had a 5.7% stake.
    • The Korean analog/mixed-signal chipmaker has made fresh lows on a down day for equities. Shares are down 65% since the Q1-Q3 results came out.
    | 2 Comments
  • Thu, Feb. 19, 2:58 PM
    • Today's notable tech gainers include fiber equipment provider Zhone (ZHNE +10.6%), IP licensing firm VirnetX (VHC +7%), healthcare software provider Allscripts (MDRX +4.8%), app development software provider Pegasystems (PEGA +6%), software outsourcing firm EPAM (EPAM +5.6%), security software/service provider Imperva (IMPV +5.3%), and cloud HR software provider Paylocity (PCTY +4.5%).
    • Notable decliners include Chinese search/app store/security app provider Qihoo (QIHU -5.2%), Web hosting/cloud infrastructure provider Rackspace (RAX -3.9%), LED equipment maker Veeco (VECO -4.9%), and analog/mixed-signal chipmaker MagnaChip (MX -5%). The Nasdaq is up 0.4%.
    • VirnetX is adding to the Wednesday gains seen after Apple patent review petitions were denied, and Qihoo is adding to the losses seen following a Jefferies downgrade.
    • Rackspace and Veeco are reversing the gains they saw yesterday after posting their Q4 reports (I, II), and then some. MagnaChip is now down 58% since posting its Q1-Q3 results a week ago.
    • Previously covered: SolarCity, Facebook, Castlight, Applied Materials, DragonWave, Nimble Storage, AVG, Ascent Solar, Netlist
    | Comment!
  • Wed, Feb. 18, 2:59 PM
    • Today's notable tech gainers include smart grid hardware/software provider Silver Spring (SSNI +8.9%), SMB Web services provider Web.com (WWWW +4.1%), cybersecurity software firm CyberArk (CYBR +7%), Chinese online retailers JD.com (JD +3.5%) and LightInTheBox (LITB +4.5%), cloud life sciences software firm Veeva (VEEV +4.3%), online money transfer provider Xoom (XOOM +3.7%), and video infrastructure hardware vendor Concurrent (CCUR +3.8%).
    • Notable decliners include Russian online payments leader Qiwi (QIWI -6.5%), supercomputer maker SGI (SGI -3.7%), analog/mixed-signal chipmaker MagnaChip (MX -4.6%), and cloud marketing software provider Marketo (MKTO -3.3%). The Nasdaq is close to breakeven.
    • JD.com and LightInTheBox are adding to the Tuesday gains they saw following Vipshop's big Q4 beat. MagnaChip is adding to the huge losses seen last Friday after its Q1-Q3 2014 results were finally posted. Marketo is adding to last week's post-earnings losses. CyberArk is now up 74% from its Feb. 9 close, thanks to a big Q4 beat and broader cybersecurity enthusiasm.
    • Previously covered: Angie's List, GoPro, Zillow, Garmin, Qihoo, Sonus, VirnetX, Yandex, Bitauto, Cavium
    | Comment!
  • Fri, Feb. 13, 12:45 PM
    | 3 Comments
  • Fri, Feb. 13, 9:15 AM
    | 3 Comments
  • Thu, Feb. 12, 5:57 PM
    • "Our results for the first three quarters of 2014 show that we have challenges to overcome," says interim CEO Y.J. Kim in a PR announcing MagnaChip (NYSE:MX) has finished restating its 20111-2013 results and filed 10-Qs for Q1-Q3 of 2014.
    • For the nine months ending Sep. 30, 2014, MagnaChip (MX) had revenue of $530.6M (-5% Y/Y) and a GAAP net loss of $1.57/share. The chipmaker ended the period with $125.2M in cash, and $224M in long-term borrowings.
    • Shares have plunged to $9.00 AH.
    • The 10-Q filings: Q1, Q2, Q3
    | 2 Comments
  • Thu, Feb. 12, 5:36 PM
    • Top gainers, as of 5:15 p.m.: KING +18.5%. CYBR +15.9%. ELLI +11.8%. MTSN +10.1%. JCOM +7.5%.
    • Top losers, as of 5:15 p.m.: MX -39.6%. KN -13.0%. ZNGA -9.8%. MGI -6.8%. NUS -5.0%.
    | 5 Comments
  • Thu, Jan. 29, 3:55 PM
    • MagnaChip (NYSE:MX) expects to complete/file its 2013 10-K and Q1-Q3 2014 10-Qs "during the week of February 9, 2015, but no later than February 13, 2015."
    • The Korean analog/mixed-signal chipmaker saw its shares tumble ten months ago after announcing an accounting review stemming from "incorrectly recognized revenue on certain transactions." CFO Margaret Sakai resigned soon afterwards.
    | 2 Comments
  • Dec. 3, 2014, 1:48 PM
    • The Philadelphia Semi Index (SOXX +1.7%) is making fresh highs after Microchip (MCHP +4.1%) slightly upped its calendar Q4 guidance, and stated it continues to "see an improvement in our bookings and billings since our earnings call on October 30, 2014."
    • Chip stocks had also jumped following that earnings call, during which Microchip said it believed the inventory correction that triggered an Oct. 9 warning (and a major chip stock selloff) was mostly over. While a slew of chipmakers provided soft Q4 guidance after Microchip's warning, fears of a major correction didn't pan out.
    • The group outperformed a bit yesterday after Cypress (CY +2.9%) announced it's merging with Spansion (CODE +2.5%), continuing the chip industry's consolidation wave. Several firms have upgraded Cypress and/or Spansion in response, praising the deal's cost synergies.
    • Notable gainers include not only chipmakers, but also chip equipment, test/assembly, and IP licensing firms: ARMH +3.8%. AMBA +3%. MX +9%. MXIM +4.2%. AMCC +3.5%. ADI +3.1%. SIMG +3.7%. AMKR +4.2%. SPIL +3.3%. SYNA +2.7%. ATML +3.7%. ENTR +3.8%. AMAT +2.7%. KLAC +2.5%.
    • Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
    • Last week: Chip stocks rally after ADI's earnings
    | 10 Comments
  • Nov. 26, 2014, 2:52 PM
    • Chip stocks are outperforming after Analog Devices (ADI +5.2%) beat FQ4 estimates and offered in-line FQ1 guidance. The Philadelphia Semi Index (SOXX +1.9%) has made new highs.
    • Notable gainers include many analog/mixed-signal and telecom IC firms: TXN +3%. LLTC +2.7%. SMTC +3.1%. ISIL +3.3%. SWKS +3.7%. AVGO +2.9%. OVTI +3.2%. FSL +3.1%. EZCH +2.5%. XLNX +2.3%. ALTR +2.1%. MX +4.3%. PMCS +2.7%. BRCM +2%.
    • On its CC (transcript), ADI noted its telecom equipment chip sales are holding up well in spite of weak capex, aided by the fact its dollar content for 4G base stations is "at least 20% to 30% better" than for 3G base stations. The company also mentioned its lead times were stable in FQ4.
    • Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
    | 3 Comments
  • Apr. 1, 2014, 9:40 AM
    • Nvidia (NVDA +3.4%) has been upgraded to Outperform by JMP. The company made a flurry of product announcements last week.
    • InvenSense (INVN -2.2%) has been cut to Market Perform by Oppenheimer. A Galaxy S5 teardown recently turned up a 6-axis InvenSense motion sensor.
    • Rubicon (RBCN +10%) has been upgraded to Overweight by JPMorgan.
    • JA Solar (JASO +5.2%) has been started at Outperform by Northland.
    • Tablueau (DATA +1.4%) has been upgraded to Outperform by Baird.
    • Informatica (INFA +4.2%) has been upgraded to Overweight by Barclays.
    • MagnaChip (MX -2.5%) has been cut to Neutral by Chardan Capital following Friday's restatement/CFO news. UBS downgraded shares to Sell yesterday.
    • Extreme Networks (EXTR +6%) has been started at Buy by Wunderlich. The company recently launched several new software products, as well as 100-gig Ethernet blade for its switches.
    • Coupons.com (COUP -2.2%) has received a bullish rating from BofA/Merrill, and neutral ones from Goldman and RBC, on underwriter coverage day.
    | Comment!
  • Mar. 28, 2014, 5:37 PM
    | 1 Comment
Visit Seeking Alpha's
MX vs. ETF Alternatives
Company Description
Magnachip Semiconductor Corp is a Korea-based designer and manufacturer of analog and mixed-signal semiconductor products for high-volume consumer, computer and communication applications.
Sector: Technology
Country: Korea