MAGNACHIP SEMICONDUCTOR Corp Files 10-K for Fiscal Year Ended December 31, 2023

TL;DR

<b>Magnachip Semiconductor Corp. has filed its 2023 10-K annual report detailing its financial performance and business operations.</b>

AI Summary

MAGNACHIP SEMICONDUCTOR Corp (MX) filed a Annual Report (10-K) with the SEC on March 8, 2024. Magnachip Semiconductor Corp. filed its annual 10-K report for the fiscal year ending December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business address is located in Luxembourg. Magnachip Semiconductor Corp. is classified under the SIC code 3674 for Semiconductors & Related Devices. The report was filed on March 8, 2024.

Why It Matters

For investors and stakeholders tracking MAGNACHIP SEMICONDUCTOR Corp, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Magnachip's financial health and strategic positioning for the fiscal year 2023, crucial for investors assessing its performance and future prospects. As a semiconductor company, understanding its operational structure and financial disclosures in this report is key to evaluating its competitive standing within the industry.

Risk Assessment

Risk Level: medium — MAGNACHIP SEMICONDUCTOR Corp shows moderate risk based on this filing. The filing is a standard 10-K, which is a comprehensive annual report. While it contains detailed financial information, it does not inherently signal immediate positive or negative events, thus warranting a medium risk assessment for immediate trading decisions based solely on this filing.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to identify any significant changes or trends impacting Magnachip Semiconductor Corp.'s business.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-08 — Filing Date (Date the 10-K was filed)
• 122 — Document Count (Total number of public documents in the filing)
• 3674 — SIC Code (Standard Industrial Classification for Semiconductors & Related Devices)

Key Players & Entities

• MAGNACHIP SEMICONDUCTOR Corp (company) — Filer of the 10-K report
• MAGNACHIP SEMICONDUCTOR S.A. (company) — Associated with the business and mail address
• Luxembourg (location) — City of the business and mail address
• 3674 (industry_code) — Standard Industrial Classification for Semiconductors & Related Devices
• 2023-12-31 (date) — Conformed period of report
• 2024-03-08 (date) — Filed as of date

FAQ

Industry Context

Magnachip Semiconductor Corp. operates in the Semiconductors & Related Devices industry, a sector characterized by rapid technological advancements and global competition.

Regulatory Implications

As a publicly traded company, Magnachip Semiconductor Corp. is subject to the reporting requirements of the Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, net income, and other key performance indicators.
2. Review the 'Risk Factors' section for potential challenges and uncertainties facing the company.
3. Examine management's discussion and analysis (MD&A) for insights into the company's performance and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-08: 10-K Filing Date — Date the annual report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023. Comparative data from the previous year will be available within the detailed financial statements.

Key Financial Figures

• $0.01 — ich registered Common Stock, par value $0.01 per share MX New York Stock Exchang
• $230.1 m — 1, 2023, we generated total revenues of $230.1 million, net loss of $36.6 million, opera
• $36.6 m — revenues of $230.1 million, net loss of $36.6 million, operating loss of $57.6 million,
• $57.6 m — oss of $36.6 million, operating loss of $57.6 million, Adjusted EBITDA of negative $24.
• $24.2 m — .6 million, Adjusted EBITDA of negative $24.2 million, Adjusted Operating Loss of $41.2
• $41.2 million — 4.2 million, Adjusted Operating Loss of $41.2 million and Adjusted Net Loss of $22.5 million.
• $22.5 million — $41.2 million and Adjusted Net Loss of $22.5 million. See "Item 7. Management's Discussion a

Filing Documents

• d183811d10k.htm (10-K) — 2285KB
• d183811dex41.htm (EX-4.1) — 16KB
• d183811dex211.htm (EX-21.1) — 6KB
• d183811dex231.htm (EX-23.1) — 3KB
• d183811dex311.htm (EX-31.1) — 10KB
• d183811dex312.htm (EX-31.2) — 11KB
• d183811dex321.htm (EX-32.1) — 4KB
• d183811dex322.htm (EX-32.2) — 4KB
• d183811dex971.htm (EX-97.1) — 24KB
• g183811g23w37.jpg (GRAPHIC) — 127KB
• g183811g52z01.jpg (GRAPHIC) — 29KB
• 0001193125-24-063674.txt (&nbsp;) — 10970KB
• mx-20231231.xsd (EX-101.SCH) — 87KB
• mx-20231231_cal.xml (EX-101.CAL) — 88KB
• mx-20231231_def.xml (EX-101.DEF) — 314KB
• mx-20231231_lab.xml (EX-101.LAB) — 681KB
• mx-20231231_pre.xml (EX-101.PRE) — 556KB
• d183811d10k_htm.xml (XML) — 1671KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 19 Item 1B. Unresolved Staff Comments 38 Item 1C. Cybersecurity 38 Item 2.

Properties

Properties 40 Item 3.

Legal Proceedings

Legal Proceedings 40 Item 4. Mine Safety Disclosures 40 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 41 Item 6. [Reserved] 43 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 43 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 61 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 63 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 103 Item 9A.

Controls and Procedures

Controls and Procedures 103 Item 9B. Other Information 104 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 104 PART III Item 10. Directors, Executive Officers and Corporate Governance 105 Item 11.

Executive Compensation

Executive Compensation 105 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 105 Item 13. Certain Relationships and Related Transactions, and Director Independence 105 Item 14. Principal Accounting Fees and Services 105 PART IV Item 15. Exhibits and Financial Statement Schedules 106 Item 16. 10-K Summary 110

SIGNATURES

SIGNATURES 111 Table of Contents PART I INDUSTRY AND MARKET DATA We have made statements in this Annual Report on Form 10-K for the year ended December 31, 2023 (this "Report") regarding our industry and our position in the industry based on our experience in the industry and our own views of market conditions, but we have not independently verified those statements. We do not have any obligation to announce or otherwise make publicly available updates or revisions to forecasts contained in these documents. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS We have made certain "forward-looking" statements in this Report within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), that involve risks and uncertainties. Forward-looking statements give our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. You can identify these statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as "anticipate," "estimate," "expect," "project," "intend," "plan," "believe" and other words and terms of similar meaning in connection with any discussion of the timing or nature of future operating or fi

View Full Filing

View this 10-K filing on SEC EDGAR