AMD - Magnachip: Buy The Stock For Cash On The Balance Sheet Get The Chip Business For $1 Per Share

2024-05-14 11:20:19 ET

Summary

• Magnachip Semiconductor's stock has dropped to just under $5 per share, making it incredibly undervalued.
• Insiders, including the CEO, have been accumulating shares, indicating confidence in the stock's undervaluation.
• The company reported better than expected Q1 2024 earnings and has secured new design wins, suggesting future growth potential.

I last wrote about Magnachip Semiconductor ( MX ) in December, 2023, and since then a lot has happened. For one thing, this stock went up to around $8 per share after my last article, but it has since dropped to just under $5 per share over the past few months. In spite of this drop, the company seems to be making significant progress, and now the stock appears even more undervalued. I would even say incredibly undervalued. That's because this little known chip stock is now trading at a level that is quite close to the actual cash it has on the balance sheet....

For further details see: