We argued nearly two years ago that MagnaChip (MX) OLED business was booming, and so it is, but the shares have traded sideways since. However, we think there is a good chance this is about to change.
We think the company has a bright future after divesting from its foundry business, which clears up its balance sheet and produces a much more focused company, concentrating on its power business and display drivers in which it is a market leader.
Grosso modo, revenue has trended upwards, but operational performance hasn't, so there is room for improvement