Yahoo Finance Magnachip (MX) Reports Q2: Everything You Need To Know Ahead Of Earnings
Semiconductor manufacturer Magnachip Semiconductor (NYSE:MX) will be announcing earnings results tomorrow afternoon. Here's what to look for.
Magnachip met analysts' revenue expectations last quarter, reporting revenues of $49.07 million, down 13.9% year on year. It was a weaker quarter for the company, with underwhelming revenue guidance for the next quarter and a decline in its gross margin.
Is Magnachip a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Magnachip's revenue to decline 15.6% year on year to $51.47 million, improving from the 39.8% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.33 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Magnachip has missed Wall Street's revenue estimates four times over the last two years.
Looking at Magnachip's peers in the analog semiconductors segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Impinj delivered year-on-year revenue growth of 19.2%, beating analysts' expectations by 5.2%, and Sensata Technologies reported a revenue decline of 2.5%, in line with consensus estimates. Impinj traded up 4.6% following the results.
Read our full analysis of Impinj's results here and Sensata Technologies's results here.
Growth stocks have seen elevated volatility as investors debate the Fed's monetary policy, and while some of the analog semiconductors stocks have fared somewhat better, they have not been spared, with share prices down 4.1% on average over the last month. Magnachip is up 4.8% during the same time and is heading into earnings with an average analyst price target of $8 (compared to the current share price of $5).
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