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- The stock hit a new multi-year low after a Q4 report that might have been the worst ever, but MX has been on the move lately.
- MX is on an awful streak with the stock losing ground for almost three years, which might nonetheless be an opportunity for some.
- MX is calling for a return to growth in 2024 after many years, but how sustainable it is is up for discussion for several reasons.
- Long MX will find its supporters, and not without reason, but there will also be those who are not yet convinced now is the time.
Magnachip Semiconductor (NYSE:MX), a designer and manufacturer of analog and mixed-signal semiconductors, wrapped up FY2023 with the release of the latest Form 10-K on March 8 and it could not have come soon enough. FY2023 was one of the worst ever, if not the worst, with MX suffering setbacks in many areas, including record low sales. The stock also suffered, continuing the decline that started a few years ago. Still, MX looks compelling in some ways and with the stock showing signs of life recently, in addition to an expected return to growth in 2024 after many years, the question to be raised is whether the time has come to go long MX. Why will be covered next.
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