Shares of South Korean semiconductor manufacturer MagnaChip Semiconductor jumped out of the gate Monday and are up 4.3% after the company crushed its Q3 earnings report versus $0.22 per share on $126.9 million in sales.
As financial statements were announced, the company reached that sales target, booking $127 million in revenue. Actual earnings were only $0.23 per share. And MagnaChip’s sales inched only up 1.8% year over year in Q3 2021.
The company’s display solutions sales were especially weak, falling nearly 16% year over year, a fact the company attributed to limited capacity allocation amid global shortages in manufacturing capacities.
On the plus side, the company’s gross profit margin on those sales grew by more than half to 36.7%, hitting the highest level reported in the company’s history.
The bad news is that supply constraints could persist for the foreseeable future, limiting company\u2019s ability to grow revenue and a sizable falloff in revenue for the fourth quarter (down 7%) is still anticipated and an even bigger decline in earnings (down more than 40%) is expected as well.<\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of South Korean semiconductor manufacturer MagnaChip Semiconductor jumped out of the gate Monday and are up 4.3% after the company crushed its Q3 earnings report versus $0.22 per share on $126.9 million in sales.As financial statements were announced, the company reached that sales target, booking $127 million in revenue. Actual earnings were only $0.23 …<\/p>\n","protected":false},"author":13,"featured_media":53036,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,39,36],"tags":[7113,7615,7466,7563,6862],"class_list":["post-53433","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-global-stock-markets","category-market-updates","tag-earnings","tag-semiconductors","tag-shortage","tag-supply-chain-difficulties","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/53433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=53433"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/53433\/revisions"}],"predecessor-version":[{"id":53437,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/53433\/revisions\/53437"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53036"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=53433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=53433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=53433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}