Magnachip Semiconductor (MX) 10-Q 8 Aug 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 31, 2023
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Document Transition Report	false
Entity File Number	001-34791
Entity Registrant Name	Magnachip Semiconductor Corporation
Entity Central Index Key	0001325702
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	83-0406195
Entity Address, Address Line One	c/o Magnachip Semiconductor, Ltd.
Entity Address, Address Line Two	15F, 76 Jikji-daero 436beon-gil
Entity Address, City or Town	Heungdeok-gu
Entity Address, Country	KR
Entity Address, Postal Zip Code	28581
City Area Code	82
Local Phone Number	(2) 6903-3000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	MX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		40,259,499

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 172,954	$ 225,477
Accounts receivable, net	35,009	35,380
Inventories, net	32,337	39,883
Other receivables	3,498	7,847
Prepaid expenses	9,553	10,560
Hedge collateral (Note 6)	2,120	2,940
Other current assets (Note 16)	19,070	15,766
Total current assets	274,541	337,853
Property, plant and equipment, net	101,067	110,747
Operating lease right-of-use assets	5,224	5,265
Intangible assets, net	1,706	1,930
Long-term prepaid expenses	7,430	10,939
Deferred income taxes	37,141	38,324
Other non-current assets	16,626	11,587
Total assets	443,735	516,645
Current liabilities
Accounts payable	20,367	17,998
Other accounts payable	8,473	9,702
Accrued expenses (Note 5)	10,456	9,688
Accrued income taxes	91	3,154
Operating lease liabilities	1,745	1,397
Other current liabilities	4,506	5,306
Total current liabilities	45,638	47,245
Accrued severance benefits, net	20,123	23,121
Non-current operating lease liabilities	3,671	4,091
Other non-current liabilities	10,011	14,035
Total liabilities	79,443	88,492
Commitments and contingencies (Note 16)
Stockholders' equity
Common stock, $0.01 par value, 150,000,000 shares authorized, 56,449,782 shares issued and 40,133,898 outstanding at June 30, 2023 and 56,432,449 shares issued and 43,824,575 outstanding at December 31, 2022	564	564
Additional paid-in capital	269,297	266,058
Retained earnings	310,089	335,506
Treasury stock, 16,315,884 shares at June 30, 2023 and 12,607,874 shares at December 31, 2022, respectively	(199,248)	(161,422)
Accumulated other comprehensive loss	(16,410)	(12,553)
Total stockholders' equity	364,292	428,153
Total liabilities and stockholders' equity	$ 443,735	$ 516,645

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	56,449,782	56,432,449
Common stock, shares outstanding	40,133,898	43,824,575
Treasury stock, shares	16,315,884	12,607,874

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues:
Net sales	$ 60,979	$ 101,376	$ 117,984	$ 205,469
Cost of sales:
Cost of sales	47,441	72,431	92,352	137,528
Gross profit	13,538	28,945	25,632	67,941
Operating expenses:
Selling, general and administrative expenses	12,137	12,736	24,302	26,899
Research and development expenses	11,255	13,410	24,553	25,364
Early Termination And Other Charges	802	797	9,251	797
Total operating expenses	24,194	26,943	58,106	53,060
Operating income (loss)	(10,656)	2,002	(32,474)	14,881
Interest income	2,692	1,061	5,534	1,776
Interest expense	(200)	(499)	(456)	(610)
Foreign currency gain (loss), net	1,237	(7,012)	(2,193)	(7,702)
Other income (loss), net	3	211	(32)	429
Income (loss) before income tax expense	(6,924)	(4,237)	(29,621)	8,774
Income tax expense (benefit)	(2,977)	(897)	(4,204)	2,586
Net income (loss)	$ (3,947)	$ (3,340)	$ (25,417)	$ 6,188
Basic earnings (loss) per common share—	$ (0.09)	$ (0.07)	$ (0.6)	$ 0.14
Diluted earnings (loss) per common share—	$ (0.09)	$ (0.07)	$ (0.6)	$ 0.13
Weighted average number of shares—
Basic	41,741,310	44,897,278	42,561,514	45,248,293
Diluted	41,741,310	44,897,278	42,561,514	46,329,559
Standard products business [Member]
Revenues:
Net sales	$ 51,375	$ 91,288	$ 102,889	$ 185,298
Cost of sales:
Cost of sales	37,867	63,620	75,179	119,700
Gross profit	13,508	27,668	27,710	65,598
Fab 3 Foundry Services [Member]
Revenues:
Net sales	9,604	10,088	15,095	20,171
Cost of sales:
Cost of sales	9,574	8,811	17,173	17,828
Gross profit	$ 30	$ 1,277	$ (2,078)	$ 2,343

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (3,947)	$ (3,340)	$ (25,417)	$ 6,188
Other comprehensive loss
Foreign currency translation adjustments	(2,285)	(6,862)	(4,193)	(9,907)
Derivative adjustments
Fair valuation of derivatives	(375)	(6,477)	(1,510)	(7,741)
Reclassification adjustment for loss on derivatives included in net income (loss)	1,243	1,796	1,846	2,558
Total other comprehensive loss	(1,417)	(11,543)	(3,857)	(15,090)
Total comprehensive loss	$ (5,364)	$ (14,883)	$ (29,274)	$ (8,902)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Accumulated Other Comprehensive Loss [Member]
Balance beginning at Dec. 31, 2021	$ 452,762	$ 559	$ 241,197	$ 343,542	$ (130,306)	$ (2,230)
Balance, Shares beginning at Dec. 31, 2021		45,659,304
Stock-based compensation	3,626		3,626
Exercise of stock options	1,786	$ 1	1,785
Exercise of stock options, Shares		152,326
Settlement of restricted stock units	(125)	$ 2	(127)
Settlement of restricted stock units, Shares		177,128
Acquisition of treasury stock	(1,000)				(1,000)
Acquisition of treasury stock, Shares		(53,464)
Accelerated stock repurchase			17,217		(17,217)
Accelerated stock repurchase, Shares		(1,031,576)
Other comprehensive loss, net	(15,090)					(15,090)
Net income (loss)	6,188			6,188
Balance ending at Jun. 30, 2022	448,147	$ 562	263,698	349,730	(148,523)	(17,320)
Balance, Shares ending at Jun. 30, 2022		44,903,718
Balance beginning at Mar. 31, 2022	461,162	$ 562	261,830	353,070	(148,523)	(5,777)
Balance, Shares beginning at Mar. 31, 2022		44,894,385
Stock-based compensation	1,988		1,988
Exercise of stock options	5	$ 0	5
Exercise of stock options, Shares		1,000
Settlement of restricted stock units	(125)	$ 0	(125)
Settlement of restricted stock units, Shares		8,333
Other comprehensive loss, net	(11,543)					(11,543)
Net income (loss)	(3,340)			(3,340)
Balance ending at Jun. 30, 2022	448,147	$ 562	263,698	349,730	(148,523)	(17,320)
Balance, Shares ending at Jun. 30, 2022		44,903,718
Balance beginning at Dec. 31, 2022	$ 428,153	$ 564	266,058	335,506	(161,422)	(12,553)
Balance, Shares beginning at Dec. 31, 2022	43,824,575	43,824,575
Stock-based compensation	$ 3,212		3,212
Exercise of stock options	27	$ 0	27
Exercise of stock options, Shares		4,000
Settlement of restricted stock units	0	$ 0	0
Settlement of restricted stock units, Shares		13,333
Acquisition of treasury stock	(37,826)				(37,826)
Acquisition of treasury stock, Shares		(3,708,010)
Other comprehensive loss, net	(3,857)					(3,857)
Net income (loss)	(25,417)			(25,417)
Balance ending at Jun. 30, 2023	$ 364,292	$ 564	269,297	310,089	(199,248)	(16,410)
Balance, Shares ending at Jun. 30, 2023	40,133,898	40,133,898
Balance beginning at Mar. 31, 2023	$ 393,353	$ 564	267,187	314,036	(173,441)	(14,993)
Balance, Shares beginning at Mar. 31, 2023		42,589,315
Stock-based compensation	2,092		2,092
Exercise of stock options	18	$ 0	18
Exercise of stock options, Shares		2,600
Settlement of restricted stock units	0	$ 0	0
Settlement of restricted stock units, Shares		10,000
Acquisition of treasury stock	(25,807)				(25,807)
Acquisition of treasury stock, Shares		(2,468,017)
Other comprehensive loss, net	(1,417)					(1,417)
Net income (loss)	(3,947)			(3,947)
Balance ending at Jun. 30, 2023	$ 364,292	$ 564	$ 269,297	$ 310,089	$ (199,248)	$ (16,410)
Balance, Shares ending at Jun. 30, 2023	40,133,898	40,133,898

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net income (loss)	$ (25,417)	$ 6,188
Adjustments to reconcile net income (loss) to net cash provided by operating activities
Depreciation and amortization	8,502	7,602
Provision for severance benefits	4,091	3,240
Loss on foreign currency, net	9,117	29,183
Provision for inventory reserves	1,121	5,282
Stock-based compensation	3,212	3,626
Other, net	450	712
Changes in operating assets and liabilities
Accounts receivable, net	(342)	(12,377)
Inventories	4,911	(5,486)
Other receivables	4,407	11,640
Other current assets	395	(2,089)
Accounts payable	2,880	2,429
Other accounts payable	(6,488)	(5,861)
Accrued expenses	1,104	(2,709)
Accrued income taxes	(2,972)	(11,513)
Other current liabilities	(471)	(2,153)
Other non-current liabilities	(214)	570
Payment of severance benefits	(5,728)	(2,934)
Other, net	(487)	(385)
Net cash provided by (used in) operating activities	(1,929)	24,965
Cash flows from investing activities
Proceeds from settlement of hedge collateral	3,335	2,805
Payment of hedge collateral	(2,586)	(6,844)
Purchase of property, plant and equipment	(1,518)	(1,511)
Payment for intellectual property registration	(163)	(153)
Payment of guarantee deposits	(6,907)	(1,049)
Other, net	1,445	14
Net cash used in investing activities	(6,394)	(6,738)
Cash flows from financing activities
Proceeds from exercise of stock options	27	1,786
Acquisition of treasury stock	(36,840)	(1,826)
Repayment of financing related to water treatment facility arrangement	(248)	(261)
Repayment of principal portion of finance lease liabilities	(46)	(32)
Net cash used in financing activities	(37,107)	(333)
Effect of exchange rates on cash and cash equivalents	(7,093)	(23,644)
Net decrease in cash and cash equivalents	(52,523)	(5,750)
Cash and cash equivalents at beginning of period	225,477	279,547
Cash and cash equivalents at end of period	172,954	273,797
Supplemental cash flow information
Cash paid for income taxes	3,599	14,022
Non-cash investing activities
Property, plant and equipment additions in other accounts payable	477	$ 4,050
Non-cash financing activities
Unsettled common stock repurchases	$ 1,379

Business, Basis of Presentation

Business, Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Business, Basis of Presentation and Significant Accounting Policies	1. Business, Basis of Presentation and Significant Accounting Policies Business Magnachip Semiconductor Corporation (together with its subsidiaries, the “Company”) is a designer and manufacturer of analog and mixed-signal semiconductor platform solutions for communications, Internet of Things (“IoT”) applications, consumer, computing, industrial and automotive applications. The Company’s standard products business includes its Display Solutions and Power Solutions business lines. The Company’s Display Solutions products provide panel display solutions to major suppliers of large and small rigid and flexible panel displays, and a wide range of applications including smartphones, TVs, automotive and IT applications such as monitors, notebook PCs, tablet PCs as well as AR/VRs. The Company’s Power Solutions products include discrete and integrated circuit solutions for power management in communications, consumer, computing, servers, automotive, and industrial applications. On September 1, 2020, the Company completed the sale of the Company’s Foundry Services Group business and its fabrication facility located in Cheongju, Korea, known as “Fab 4”. Following the consummation of the sale, and for up to three years, the Company is expected to provide transitional foundry services associated with its fabrication facility located in Gumi, Korea, known as “Fab 3”, at an agreed upon cost plus mark-up Basis of Presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). These interim consolidated financial statements include normal recurring adjustments and the elimination of all intercompany accounts and transactions which are, in the opinion of management, necessary to provide a fair statement of the Company’s financial condition and results of operations for the periods presented. These interim consolidated financial statements are presented in accordance with Accounting Standards Codification (“ASC”) 270, “Interim Reporting” and, accordingly, do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for a full year or for any other periods. The December 31, 2022 balance sheet data was derived from the Company’s audited financial statements, but does not include all disclosures required by U.S. GAAP. The interim consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K There have been no material changes to the Company’s significant accounting policies as of and for the six months ended June 30, 2023 as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K

Inventories

Inventories	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Inventories	2. Inventories Inventories as of June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Finished goods $ 5,025 $ 6,799 Semi-finished goods and work-in-process 35,379 40,265 Raw materials 6,664 7,460 Materials in-transit 14 36 Less: inventory reserve (14,745 ) (14,677 ) Inventories, net $ 32,337 $ 39,883 Changes in inventory reserve for the three and six months ended June 30, 2023 and 2022 are as follows (in thousands): Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 Beginning balance $ (14,941 ) $ (14,677 ) $ (5,555 ) $ (5,730 ) Change in reserve Inventory reserve charged to costs of sales (2,023 ) (4,607 ) (6,093 ) (7,700 ) Sale of previously reserved inventory 2,047 3,523 872 2,324 24 (1,084 ) (5,221 ) (5,376 ) Write off 67 482 84 295 Translation adjustments 105 534 486 605 Ending balance $ (14,745 ) $ (14,745 ) $ (10,206 ) $ (10,206 ) work-in-process

Property, Plant and Equipment

Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	3. Property, Plant and Equipment Property, plant and equipment as of June 30, 2023 and December 31, 2022 are comprised of the following (in thousands): June 30, 2023 December 31, 2022 Buildings and related structures $ 24,048 $ 24,780 Machinery and equipment 134,806 137,666 Finance lease right-of-use 702 389 Others 33,689 33,890 193,245 196,725 Less: accumulated depreciation (105,929 ) (101,502 ) Land 12,583 13,034 Construction in progress 1,168 2,490 Property, plant and equipment, net $ 101,067 $ 110,747 Aggregate depreciation expenses totaled $8,183 thousand and $7,239 thousand for the six months ended June 30, 2023 and 2022, respectively.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	4. Intangible Assets Intangible assets as of June 30, 2023 and December 31, 2022 are comprised of the following (in thousands): June 30, 2023 Gross amount Accumulated amortization Net amount Intellectual property assets $ 8,923 $ (7,217 ) $ 1,706 Intangible assets $ 8,923 $ (7,217 ) $ 1,706 December 31, 2022 Gross amount Accumulated amortization Net amount Intellectual property assets $ 9,111 $ (7,181 ) $ 1,930 Intangible assets $ 9,111 $ (7,181 ) $ 1,930 Aggregate amortization expenses for intangible assets totaled $319 thousand and $363 thousand for the six months ended June 30, 2023 and 2022, respectively.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued Expenses	5. Accrued Expenses Accrued expenses as of June 30, 2023 and December 31, 2022 are comprised of the following (in thousands): June 30, 2023 December 31, 2022 Payroll, benefits and related taxes, excluding severance benefits $ 7,210 $ 7,620 Withholding tax attributable to intercompany interest income 886 43 Outside service fees 1,522 1,642 Others 838 383 Accrued expenses $ 10,456 $ 9,688

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	6. Derivative Financial Instruments The Company’s Korean subsidiary from time to time has entered into zero cost collar contracts to hedge the risk of changes in the functional-currency-equivalent cash flows attributable to currency rate changes on U.S. dollar denominated revenues. Details of the zero cost collar contracts as of June 30, 2023 are as follows (in thousands): Date of transaction Total notional amount Month of settlement March 07, 2022 $ 24,000 July 2023 to December 2023 April 27, 2022 $ 24,000 July 2023 to December 2023 March 08, 2023 $ 18,000 July 2023 to December 2023 April 03, 2023 $ 23,000 December 2023 to June 2024 Details of the zero cost collar contracts as of December 31, 2022 are as follows (in thousands): Date of transaction Total notional amount Month of settlement January 04, 2022 $ 30,000 January 2023 to June 2023 March 07, 2022 $ 24,000 July 2023 to December 2023 April 27, 2022 $ 42,000 January 2023 to December 2023 The zero cost collar contracts qualify as cash flow hedges under ASC 815, “Derivatives and Hedging,” since at both the inception of the contracts and on an ongoing basis, the hedging relationship was and is expected to be highly effective in achieving offsetting cash flows attributable to the hedged risk during the term of the contracts. The fair values of the Company’s outstanding zero cost collar contracts recorded as liabilities as of June 30, 2023 and December 31, 2022 are as follows (in thousands): Derivatives designated as hedging instruments: June 30, 2023 December 31, 2022 Liability Derivatives: Zero cost collars Other current liabilities $ 1,776 $ 2,015 Offsetting of derivative liabilities as of June 30, 2023 is as follows (in thousands): As of June 30, 2023 Gross amounts of recognized liabilities Gross amounts offset in the balance sheets Net amounts of liabilities presented in the balance sheets Gross amounts not offset in the balance sheets Net amount Financial instruments Cash collateral pledged Liability Derivatives: Zero cost collars $ 1,776 $ — $ 1,776 $ — $ (1,120 ) $ 656 Offsetting of derivative liabilities as of December 31, 2022 is as follows (in thousands): As of December 31, 2022 Gross amounts of recognized liabilities Gross amounts offset in the balance sheets Net amounts of liabilities presented in the balance sheets Gross amounts not offset in the balance sheets Net amount Financial instruments Cash collateral pledged Liability Derivatives: Zero cost collars $ 2,015 $ — $ 2,015 $ — $ (1,940 ) $ 75 For derivative instruments that are designated and qualify as cash flow hedges, gains or losses on the derivative aside from components excluded from the assessment of effectiveness are reported as a component of accumulated other comprehensive income or loss (“AOCI”) and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings. Gains and losses on the derivative, representing hedge components excluded from the assessment of effectiveness, are recognized in current earnings. The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the three months ended June 30, 2023 and 2022 (in thousands): Derivatives in ASC 815 Cash Flow Hedging Relationships Amount of Loss Recognized in AOCI on Derivatives Location/Amount of Loss Reclassified from AOCI Into Statement of Operations Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives Three Months Ended June 30, Three Months Ended June 30, Three Months Ended June 30, 2023 2022 2023 2022 2023 2022 Zero cost collars $ (375 ) $ (6,477 ) Net sales $ (1,243 ) $ (1,796 ) Other income, net $ (20 ) $ 184 $ (375 ) $ (6,477 ) $ (1,243 ) $ (1,796 ) $ (20 ) $ 184 The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the six months ended June 30, 2023 and 2022 (in thousands): Derivatives in ASC 815 Cash Flow Hedging Relationships Amount of Loss Recognized in AOCI on Derivatives Location/Amount of Loss Reclassified from AOCI Into Statement of Operations Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives Six Months Ended June 30, Six Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 2023 2022 Zero cost collars $ (1,510 ) $ (7,741 ) Net sales $ (1,846 ) $ (2,558 ) Other income $ (74 ) $ 55 $ (1,510 ) $ (7,741 ) $ (1,846 ) $ (2,558 ) $ (74 ) $ 55 As of June 30, 2023, the amount expected to be reclassified from accumulated other comprehensive loss into loss within the next 12 months is $889 thousand. The Company set aside cash deposit to the counterparty, Standard Chartered Bank Korea Limited (“SC”), as required for the zero cost collar contracts. This cash deposit is recorded as hedge collateral on the consolidated balance sheets. Cash deposits as of June 30, 2023 and December 31, 2022 are as follows (in thousands): Counterparty June 30, 2023 December 31, 2022 SC $ 1,000 $ 1,000 Total $ 1,000 $ 1,000 The Company is required to deposit additional cash collateral with Nomura Financial Investment (Korea) Co., Ltd. (“NFIK”) and SC for any exposure in excess of $500 thousand. As of June 30, 2023, $1,120 thousand of additional cash collateral was required by NFIK, and recorded as hedge collateral on the consolidated balance sheet. As of December 31, 2022, $1,840 thousand and $100 thousand of additional cash collateral were required by NFIK and SC, respectively, and recorded as hedge collateral on the consolidated balance sheet. These zero cost collar contracts may be terminated by the counterparties if the Company’s total cash and cash equivalents is less than $30,000 thousand at the end of a fiscal quarter, unless a waiver is obtained.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	7. Fair Value Measurements Fair Value of Financial Instruments As of June 30, 2023, the following table represents the Company’s liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands): Carrying Value June 30, 2023 Fair Value Measurement June 30, 2023 Quoted Prices in Active Markets for Identical Liability (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Derivative liabilities (other current liabilities) $ 1,776 $ 1,776 — $ 1,776 — As of December 31, 2022, the following table represents the Company’s liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands): Carrying Value December 31, 2022 Fair Value Measurement December 31, 2022 Quoted Prices in Active Markets for Identical Liability (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Derivative liabilities (other current liabilities) $ 2,015 $ 2,015 — $ 2,015 — It em

Accrued Severance Benefits

Accrued Severance Benefits	6 Months Ended
	Jun. 30, 2023
Postemployment Benefits [Abstract]
Accrued Severance Benefits	8. Accrued Severance Benefits The majority of accrued severance benefits are for employees in the Company’s Korean subsidiary. Pursuant to the Employee Retirement Benefit Security Act of Korea, eligible employees and executive officers with one or more years of service are entitled to severance benefits upon the termination of their employment based on their length of service and rate of pay. As of June 30, 2023, 97% of all employees of the Company were eligible for severance benefits. Changes in accrued severance benefits are as follows (in thousands): Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 Beginning balance $ 48,574 $ 48,496 $ 50,771 $ 51,567 Provisions 1,761 4,091 1,570 3,240 Severance payments (4,857 ) (5,728 ) (1,545 ) (2,934 ) Translation adjustments (357 ) (1,738 ) (3,210 ) (4,287 ) 45,121 45,121 47,586 47,586 Less: Cumulative contributions to (24,816 ) (24,816 ) (16,894 ) (16,894 ) The National Pension Fund (30 ) (30 ) (44 ) (44 ) Group severance insurance plan (152 ) (152 ) (182 ) (182 ) Accrued severance benefits, net $ 20,123 $ 20,123 $ 30,466 $ 30,466 The severance benefits funded through the Company’s National Pension Fund and group severance insurance plan will be used exclusively for payment of severance benefits to eligible employees. These amounts have been deducted from the accrued severance benefit balance. Beginning in July 2018, the Company contributes to certain severance insurance deposit accounts a certain percentage of severance benefits that are accrued for eligible employees for their services from January 1, 2018 pursuant to Employee Retirement Benefit Security Act of Korea. These accounts consist of time deposits and other guaranteed principal and interest, and are maintained at insurance companies, banks or security companies for the benefit of employees. The Company deducts the contributions made to these severance insurance deposit accounts from its accrued severance benefits. The Company is liable to pay the following future benefits to its non-executive Severance benefit Remainder of 2023 $ 168 2024 319 2025 739 2026 669 2027 372 2028 3,514 2029 – 2033 18,215 The above amounts were determined based on the non-executive non-executive Korea’s mandatory retirement age is 60 years of age or older under the Employment Promotion for the Aged Act. The Company sets the retirement age of employees at 60.

Early Termination and Other Cha

Early Termination and Other Charges	6 Months Ended
	Jun. 30, 2023
Restructuring and Related Activities [Abstract]
Early Termination and Other Charges	9. Early Termination and Other Charges During the first quarter of 2023, the Company commenced the voluntary resignation program (the “ 2023 Resignation Pr For the three and six months ended June 30, 2023, the Company also recorded $802 thousand of one-time

Foreign Currency Loss, Net

Foreign Currency Loss, Net	6 Months Ended
	Jun. 30, 2023
Foreign Currency [Abstract]
Foreign Currency Loss, Net	10. Foreign Currency Loss, Net Net foreign currency gain or loss includes non-cash non-cash

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	11. Income Taxes The Company and its subsidiaries file income tax returns in Korea, Japan, Taiwan, the U.S. and in various other jurisdictions. The Company is subject to income or non-income For the three and six months ended June 30, 2023, the Company recorded an income tax benefit of $2,977 thousand and $4,204 thousand, respectively, primarily attributable to the estimated taxable loss of its Korean subsidiary for the respective period. For the three months ended June 30, 2022, the Company recorded an income tax benefit of $897 thousand primarily attributable to a decrease in its Korean subsidiary’s pre-tax

Geographic and Other Informatio

Geographic and Other Information	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Geographic and Other Information	12. Geographic and Other Information The following sets forth information relating to the single operating segment (in thousands): Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Revenues Standard products business Display Solutions $ 9,657 $ 28,336 $ 20,498 $ 57,521 Power Solutions 41,718 62,952 82,391 127,777 Total standard products business 51,375 91,288 102,889 185,298 Transitional Fab 3 foundry services 9,604 10,088 15,095 20,171 Total revenues $ 60,979 $ 101,376 $ 117,984 $ 205,469 Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Gross Profit Standard products business $ 13,508 $ 27,668 $ 27,710 $ 65,598 Transitional Fab 3 foundry services 30 1,277 (2,078 ) 2,343 Total gross profit $ 13,538 $ 28,945 $ 25,632 $ 67,941 The following is a summary of net sales—standard products business (which does not include the Transitional Fab 3 Foundry Services) by geographic region, based on the location to which the products are billed (in thousands): Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Korea $ 14,394 $ 31,168 $ 30,890 $ 62,198 Asia Pacific (other than Korea) 35,024 56,068 66,925 114,328 United States 236 2,492 1,281 5,356 Europe 1,721 1,560 3,793 3,416 Total $ 51,375 $ 91,288 $ 102,889 $ 185,298 For the three months ended June 30, 2023 and 2022, of the Company’s net sales – standard products business in Asia Pacific (other than Korea), net sales – standard products business in China and Hong Kong together represented 67.5% and 56.5%, respectively, and net sales—standard products business in Vietnam represented 11.3% and 26.7%, respectively. For the six months ended June 30, 2023 and 2022, of the Company’s net sales – standard products business in Asia Pacific (other than Korea), net sales – standard products business in China and Hong Kong represented 62.9% and 64.0%, respectively, and net sales—standard products business in Vietnam represented 14.4% and 20.4%, respectively. Net sales from the Company’s top ten largest customers in the standard products business (which does not include the Transitional Fab 3 Foundry Services) accounted for 72% and 73% for the three months ended June 30, 2023 and 2022, respectively, and 70% and 72% for the six months ended June 30, 2023 and 2022, respectively. For the three months ended June 30, 2023, the Company had two customers that represented 15.1% and 13.5% of its net sales—standard products business, respectively. For the six months ended June 30, 2023, the Company had two customers that represented 15.0% and 14.4% of its net sales—standard products business, respectively. For the three months ended June 30, 2022, the Company had two customers that represented 26.7% and 13.3% of its net sales – standard products business. For the six months ended June 30, 2022, the Company had two customers that represented 26.1% and 13.1% of its net sales – standard products business. As of June 30, 2023, the Company’s accounts receivable was concentrated with four customers at June 30, 2023, who represented a total of 59% of its accounts receivable – standard products business (which does not include the Transitional Fab 3 Foundry Services), compared with four customers at December 31, 2022, who represented 56% of its accounts receivable – standard products business (which does not include the Transitional Fab 3 Foundry Services).

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Accumulated Other Comprehensive Loss	13. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss consists of the following as of June 30, 2023 and December 31, 2022, respectively (in thousands): June 30, 2023 December 31, 2022 Foreign currency translation adjustments $ (15,521 ) $ (11,328 ) Derivative adjustments (889 ) (1,225 ) Total $ (16,410 ) $ (12,553 ) Changes in accumulated other comprehensive loss for the three months ended June 30, 2023 and 2022 are as follows (in thousands): Three Months Ended June 30, 2023 Foreign currency translation adjustments Derivative adjustments Total Beginning balance $ (13,236 ) $ (1,757 ) $ (14,993 ) Other comprehensive loss before reclassifications (2,285 ) (375 ) (2,660 ) Amounts reclassified from accumulated other comprehensive loss — 1,243 1,243 Net current-period other comprehensive loss (2,285 ) 868 (1,417 ) Ending balance $ (15,521 ) $ (889 ) $ (16,410 ) Three Months Ended June 30, 2022 Foreign currency translation adjustments Derivative adjustments Total Beginning balance $ (3,815 ) $ (1,962 ) $ (5,777 ) Other comprehensive loss before reclassifications (6,862 ) (6,477 ) (13,339 ) Amounts reclassified from accumulated other comprehensive loss — 1,796 1,796 Net current-period other comprehensive loss (6,862 ) (4,681 ) (11,543 ) Ending balance $ (10,677 ) $ (6,643 ) $ (17,320 ) Changes in accumulated other comprehensive loss for the six months ended June 30, 2023 and 2022 are as follows (in thousands): Six Months Ended June 30, 2023 Foreign currency translation adjustments Derivative adjustments Total Beginning balance $ (11,328 ) $ (1,225 ) $ (12,553 ) Other comprehensive loss before reclassifications (4,193 ) (1,510 ) (5,703 ) Amounts reclassified from accumulated other comprehensive loss — 1,846 1,846 Net current-period other comprehensive loss (4,193 ) 336 (3,857 ) Ending balance $ (15,521 ) $ (889 ) $ (16,410 ) Six Months Ended June 30, 2022 Foreign currency translation adjustments Derivative adjustments Total Beginning balance $ (770 ) $ (1,460 ) $ (2,230 ) Other comprehensive loss before reclassifications (9,907 ) (7,741 ) (17,648 ) Amounts reclassified from accumulated other comprehensive loss — 2,558 2,558 Net current-period other comprehensive loss (9,907 ) (5,183 ) (15,090 ) Ending balance $ (10,677 ) $ (6,643 ) $ (17,320 )

Stock Repurchases

Stock Repurchases	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Stock Repurchases	14. Stock Repurchases Accelerated Stock Repurchase Program On December 21, 2021, the Board of Directors authorized the Company to repurchase up to $75,000 thousand of its outstanding common stock and the Company entered into an accelerated stock repurchase agreement dated December 21, 2021 (the “ASR Agreement”) with JPMorgan Chase Bank, National Association (“JPM”) to repurchase an aggregate of $37,500 thousand of its common stock. Pursuant to the terms of the ASR Agreement, the Company paid to JPM $37,500 thousand in cash and received an initial delivery of 994,695 shares of its common stock in the open market for an aggregate purchase price of $20,073 thousand and a price per share of $20.18 on December 22, 2021. As of December 31, 2021, the Company accounted for the remaining portion of the ASR Agreement as a forward contract indexed to its own common stock and recorded $17,427 thousand in additional paid-in In March 2022, the previously announced repurchase of $37,500 thousand of the Company’s common stock was completed pursuant to the ASR Agreement, and as a result, the Company additionally received 1,031,576 shares of its common stock for an aggregate purchase price of $17,217 thousand at a price per share of $16.69, which was reclassified as treasury stock from additional paid-in Expanded Stock Repurchase Program On August 31, 2022, the Board of Directors authorized an expansion of the Company’s previously announced stock repurchase program from $75,000 thousand to $87,500 thousand of its common stock. The remaining $50,000 thousand of the expanded $87,500 thousand program was expected In June 2023, the Company completed the repurchase of its common stock under its expanded stock repurchase program through open market purchase s . From September 2022 to December 2022, the Company repurchased 1,235,650 shares of its common stock in the open market for an aggregate purchase price of $12,511 thousand and a price per share of $10.13 under the expanded stock repurchase program. During the first half of 2023, the Company repurchased 3,705,443 shares of its common stock in the open market for an aggregate purchase price of $37,429 thousand and a price per share of $10.10 under the expanded stock repurchase program.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	15. Earnings (Loss) Per Share The following table illustrates the computation of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 (In thousands of U.S. dollars, except share data) Basic earnings (loss) per share Net income (loss) $ (3,947 ) $ (3,340 ) $ (25,417 ) $ 6,188 Basic weighted average common stock outstanding 41,741,310 44,897,278 42,561,514 45,248,293 Basic earnings (loss) per common share $ (0.09 ) $ (0.07 ) $ (0.60 ) $ 0.14 Diluted earnings (loss) per share Net income (loss) $ (3,947 ) $ (3,340 ) $ (25,417 ) $ 6,188 Basic weighted average common stock outstanding 41,741,310 44,897,278 42,561,514 45,248,293 Net effect of dilutive equity awards — — — 1,081,266 Diluted weighted average common stock outstanding 41,741,310 44,897,278 42,561,514 46,329,559 Diluted earnings (loss) per share $ (0.09 ) $ (0.07 ) $ (0.60 ) $ 0.13 Diluted earnings (loss) per share adjusts basic earnings (loss) per share for the potentially dilutive impact of stock options and restricted stock units. As the Company has reported loss for the three and six months ended June 30, 2023 and three months ended June 30, 2022, all potentially dilutive securities are antidilutive and accordingly not considered, therefore basic net loss per share equals diluted net loss per share. The following outstanding instruments were excluded from the computation of diluted earnings (loss) per share, as they have an anti-dilutive effect on the calculation: Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Options 903,558 1,145,551 903,558 130,000 Restricted Stock Units 1,538,791 1,121,574 1,538,791 —

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	16. Commitments and Contingencies Advances to Suppliers The Company, from time to time, may make advances in form of prepayments or deposits to suppliers, including external foundries, to meet its planned production. The Company recorded advances of $4,117 thousand and $6,605 thousand as other current assets as of June 30, 2023 and December 31, 2022, respectively.

Business, Basis of Presentati_2

Business, Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
Accounting Policies [Abstract]
Business	Business Magnachip Semiconductor Corporation (together with its subsidiaries, the “Company”) is a designer and manufacturer of analog and mixed-signal semiconductor platform solutions for communications, Internet of Things (“IoT”) applications, consumer, computing, industrial and automotive applications. The Company’s standard products business includes its Display Solutions and Power Solutions business lines. The Company’s Display Solutions products provide panel display solutions to major suppliers of large and small rigid and flexible panel displays, and a wide range of applications including smartphones, TVs, automotive and IT applications such as monitors, notebook PCs, tablet PCs as well as AR/VRs. The Company’s Power Solutions products include discrete and integrated circuit solutions for power management in communications, consumer, computing, servers, automotive, and industrial applications. On September 1, 2020, the Company completed the sale of the Company’s Foundry Services Group business and its fabrication facility located in Cheongju, Korea, known as “Fab 4”. Following the consummation of the sale, and for up to three years, the Company is expected to provide transitional foundry services associated with its fabrication facility located in Gumi, Korea, known as “Fab 3”, at an agreed upon cost plus mark-up
Basis of Presentation	Basis of Presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”). These interim consolidated financial statements include normal recurring adjustments and the elimination of all intercompany accounts and transactions which are, in the opinion of management, necessary to provide a fair statement of the Company’s financial condition and results of operations for the periods presented. These interim consolidated financial statements are presented in accordance with Accounting Standards Codification (“ASC”) 270, “Interim Reporting” and, accordingly, do not include all of the information and note disclosures required by U.S. GAAP for complete financial statements. The results of operations for the three and six months ended June 30, 2023 are not necessarily indicative of the results to be expected for a full year or for any other periods. The December 31, 2022 balance sheet data was derived from the Company’s audited financial statements, but does not include all disclosures required by U.S. GAAP. The interim consolidated financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K There have been no material changes to the Company’s significant accounting policies as of and for the six months ended June 30, 2023 as compared to the significant accounting policies described in the Company’s Annual Report on Form 10-K

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2023
Inventory Disclosure [Abstract]
Summary of Inventories	Inventories as of June 30, 2023 and December 31, 2022 consist of the following (in thousands): June 30, 2023 December 31, 2022 Finished goods $ 5,025 $ 6,799 Semi-finished goods and work-in-process 35,379 40,265 Raw materials 6,664 7,460 Materials in-transit 14 36 Less: inventory reserve (14,745 ) (14,677 ) Inventories, net $ 32,337 $ 39,883
Changes in Inventory Reserve	Changes in inventory reserve for the three and six months ended June 30, 2023 and 2022 are as follows (in thousands): Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 Beginning balance $ (14,941 ) $ (14,677 ) $ (5,555 ) $ (5,730 ) Change in reserve Inventory reserve charged to costs of sales (2,023 ) (4,607 ) (6,093 ) (7,700 ) Sale of previously reserved inventory 2,047 3,523 872 2,324 24 (1,084 ) (5,221 ) (5,376 ) Write off 67 482 84 295 Translation adjustments 105 534 486 605 Ending balance $ (14,745 ) $ (14,745 ) $ (10,206 ) $ (10,206 )

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2023
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	Property, plant and equipment as of June 30, 2023 and December 31, 2022 are comprised of the following (in thousands): June 30, 2023 December 31, 2022 Buildings and related structures $ 24,048 $ 24,780 Machinery and equipment 134,806 137,666 Finance lease right-of-use 702 389 Others 33,689 33,890 193,245 196,725 Less: accumulated depreciation (105,929 ) (101,502 ) Land 12,583 13,034 Construction in progress 1,168 2,490 Property, plant and equipment, net $ 101,067 $ 110,747

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Intangible Assets	Intangible assets as of June 30, 2023 and December 31, 2022 are comprised of the following (in thousands): June 30, 2023 Gross amount Accumulated amortization Net amount Intellectual property assets $ 8,923 $ (7,217 ) $ 1,706 Intangible assets $ 8,923 $ (7,217 ) $ 1,706 December 31, 2022 Gross amount Accumulated amortization Net amount Intellectual property assets $ 9,111 $ (7,181 ) $ 1,930 Intangible assets $ 9,111 $ (7,181 ) $ 1,930

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2023
Payables and Accruals [Abstract]
Summary of Accrued Expenses	Accrued expenses as of June 30, 2023 and December 31, 2022 are comprised of the following (in thousands): June 30, 2023 December 31, 2022 Payroll, benefits and related taxes, excluding severance benefits $ 7,210 $ 7,620 Withholding tax attributable to intercompany interest income 886 43 Outside service fees 1,522 1,642 Others 838 383 Accrued expenses $ 10,456 $ 9,688

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Details of Derivative Contracts	Details of the zero cost collar contracts as of June 30, 2023 are as follows (in thousands): Date of transaction Total notional amount Month of settlement March 07, 2022 $ 24,000 July 2023 to December 2023 April 27, 2022 $ 24,000 July 2023 to December 2023 March 08, 2023 $ 18,000 July 2023 to December 2023 April 03, 2023 $ 23,000 December 2023 to June 2024 Details of the zero cost collar contracts as of December 31, 2022 are as follows (in thousands): Date of transaction Total notional amount Month of settlement January 04, 2022 $ 30,000 January 2023 to June 2023 March 07, 2022 $ 24,000 July 2023 to December 2023 April 27, 2022 $ 42,000 January 2023 to December 2023
Fair Values of Outstanding Zero Cost Collar and Forward Contracts Recorded as Assets and Liabilities	The fair values of the Company’s outstanding zero cost collar contracts recorded as liabilities as of June 30, 2023 and December 31, 2022 are as follows (in thousands): Derivatives designated as hedging instruments: June 30, 2023 December 31, 2022 Liability Derivatives: Zero cost collars Other current liabilities $ 1,776 $ 2,015
Offsetting of Derivative Liabilities	Offsetting of derivative liabilities as of June 30, 2023 is as follows (in thousands): As of June 30, 2023 Gross amounts of recognized liabilities Gross amounts offset in the balance sheets Net amounts of liabilities presented in the balance sheets Gross amounts not offset in the balance sheets Net amount Financial instruments Cash collateral pledged Liability Derivatives: Zero cost collars $ 1,776 $ — $ 1,776 $ — $ (1,120 ) $ 656 Offsetting of derivative liabilities as of December 31, 2022 is as follows (in thousands): As of December 31, 2022 Gross amounts of recognized liabilities Gross amounts offset in the balance sheets Net amounts of liabilities presented in the balance sheets Gross amounts not offset in the balance sheets Net amount Financial instruments Cash collateral pledged Liability Derivatives: Zero cost collars $ 2,015 $ — $ 2,015 $ — $ (1,940 ) $ 75
Impact of Derivative Instruments on Consolidated Statement of Operations	The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the three months ended June 30, 2023 and 2022 (in thousands): Derivatives in ASC 815 Cash Flow Hedging Relationships Amount of Loss Recognized in AOCI on Derivatives Location/Amount of Loss Reclassified from AOCI Into Statement of Operations Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives Three Months Ended June 30, Three Months Ended June 30, Three Months Ended June 30, 2023 2022 2023 2022 2023 2022 Zero cost collars $ (375 ) $ (6,477 ) Net sales $ (1,243 ) $ (1,796 ) Other income, net $ (20 ) $ 184 $ (375 ) $ (6,477 ) $ (1,243 ) $ (1,796 ) $ (20 ) $ 184 The following table summarizes the impact of derivative instruments on the consolidated statements of operations for the six months ended June 30, 2023 and 2022 (in thousands): Derivatives in ASC 815 Cash Flow Hedging Relationships Amount of Loss Recognized in AOCI on Derivatives Location/Amount of Loss Reclassified from AOCI Into Statement of Operations Location/Amount of Gain (Loss) Recognized in Statement of Operations on Derivatives Six Months Ended June 30, Six Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 2023 2022 Zero cost collars $ (1,510 ) $ (7,741 ) Net sales $ (1,846 ) $ (2,558 ) Other income $ (74 ) $ 55 $ (1,510 ) $ (7,741 ) $ (1,846 ) $ (2,558 ) $ (74 ) $ 55
Summary Of Cash Deposits	This cash deposit is recorded as hedge collateral on the consolidated balance sheets. Cash deposits as of June 30, 2023 and December 31, 2022 are as follows (in thousands): Counterparty June 30, 2023 December 31, 2022 SC $ 1,000 $ 1,000 Total $ 1,000 $ 1,000

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Financial Assets and Liabilities Measured at Fair Value on Recurring Basis	As of June 30, 2023, the following table represents the Company’s liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands): Carrying Value June 30, 2023 Fair Value Measurement June 30, 2023 Quoted Prices in Active Markets for Identical Liability (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Derivative liabilities (other current liabilities) $ 1,776 $ 1,776 — $ 1,776 — As of December 31, 2022, the following table represents the Company’s liabilities measured at fair value on a recurring basis and the basis for that measurement (in thousands): Carrying Value December 31, 2022 Fair Value Measurement December 31, 2022 Quoted Prices in Active Markets for Identical Liability (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Liabilities: Derivative liabilities (other current liabilities) $ 2,015 $ 2,015 — $ 2,015 —

Accrued Severance Benefits (Tab

Accrued Severance Benefits (Tables)	6 Months Ended
	Jun. 30, 2023
Postemployment Benefits [Abstract]
Changes in Accrued Severance Benefits	Changes in accrued severance benefits are as follows (in thousands): Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 Beginning balance $ 48,574 $ 48,496 $ 50,771 $ 51,567 Provisions 1,761 4,091 1,570 3,240 Severance payments (4,857 ) (5,728 ) (1,545 ) (2,934 ) Translation adjustments (357 ) (1,738 ) (3,210 ) (4,287 ) 45,121 45,121 47,586 47,586 Less: Cumulative contributions to (24,816 ) (24,816 ) (16,894 ) (16,894 ) The National Pension Fund (30 ) (30 ) (44 ) (44 ) Group severance insurance plan (152 ) (152 ) (182 ) (182 ) Accrued severance benefits, net $ 20,123 $ 20,123 $ 30,466 $ 30,466
Future Benefits Payments to Employees

Geographic and Other Informat_2

Geographic and Other Information (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Operating Segments	The following sets forth information relating to the single operating segment (in thousands): Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Revenues Standard products business Display Solutions $ 9,657 $ 28,336 $ 20,498 $ 57,521 Power Solutions 41,718 62,952 82,391 127,777 Total standard products business 51,375 91,288 102,889 185,298 Transitional Fab 3 foundry services 9,604 10,088 15,095 20,171 Total revenues $ 60,979 $ 101,376 $ 117,984 $ 205,469 Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Gross Profit Standard products business $ 13,508 $ 27,668 $ 27,710 $ 65,598 Transitional Fab 3 foundry services 30 1,277 (2,078 ) 2,343 Total gross profit $ 13,538 $ 28,945 $ 25,632 $ 67,941
Net Sales by Region, Based on Location of Products are Billed	The following is a summary of net sales—standard products business (which does not include the Transitional Fab 3 Foundry Services) by geographic region, based on the location to which the products are billed (in thousands): Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Korea $ 14,394 $ 31,168 $ 30,890 $ 62,198 Asia Pacific (other than Korea) 35,024 56,068 66,925 114,328 United States 236 2,492 1,281 5,356 Europe 1,721 1,560 3,793 3,416 Total $ 51,375 $ 91,288 $ 102,889 $ 185,298

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Loss	Accumulated other comprehensive loss consists of the following as of June 30, 2023 and December 31, 2022, respectively (in thousands): June 30, 2023 December 31, 2022 Foreign currency translation adjustments $ (15,521 ) $ (11,328 ) Derivative adjustments (889 ) (1,225 ) Total $ (16,410 ) $ (12,553 )
Changes in Accumulated Other Comprehensive Loss	Changes in accumulated other comprehensive loss for the three months ended June 30, 2023 and 2022 are as follows (in thousands): Three Months Ended June 30, 2023 Foreign currency translation adjustments Derivative adjustments Total Beginning balance $ (13,236 ) $ (1,757 ) $ (14,993 ) Other comprehensive loss before reclassifications (2,285 ) (375 ) (2,660 ) Amounts reclassified from accumulated other comprehensive loss — 1,243 1,243 Net current-period other comprehensive loss (2,285 ) 868 (1,417 ) Ending balance $ (15,521 ) $ (889 ) $ (16,410 ) Three Months Ended June 30, 2022 Foreign currency translation adjustments Derivative adjustments Total Beginning balance $ (3,815 ) $ (1,962 ) $ (5,777 ) Other comprehensive loss before reclassifications (6,862 ) (6,477 ) (13,339 ) Amounts reclassified from accumulated other comprehensive loss — 1,796 1,796 Net current-period other comprehensive loss (6,862 ) (4,681 ) (11,543 ) Ending balance $ (10,677 ) $ (6,643 ) $ (17,320 ) Changes in accumulated other comprehensive loss for the six months ended June 30, 2023 and 2022 are as follows (in thousands): Six Months Ended June 30, 2023 Foreign currency translation adjustments Derivative adjustments Total Beginning balance $ (11,328 ) $ (1,225 ) $ (12,553 ) Other comprehensive loss before reclassifications (4,193 ) (1,510 ) (5,703 ) Amounts reclassified from accumulated other comprehensive loss — 1,846 1,846 Net current-period other comprehensive loss (4,193 ) 336 (3,857 ) Ending balance $ (15,521 ) $ (889 ) $ (16,410 ) Six Months Ended June 30, 2022 Foreign currency translation adjustments Derivative adjustments Total Beginning balance $ (770 ) $ (1,460 ) $ (2,230 ) Other comprehensive loss before reclassifications (9,907 ) (7,741 ) (17,648 ) Amounts reclassified from accumulated other comprehensive loss — 2,558 2,558 Net current-period other comprehensive loss (9,907 ) (5,183 ) (15,090 ) Ending balance $ (10,677 ) $ (6,643 ) $ (17,320 )

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2023
Earnings Per Share [Abstract]
Schedule of Computation of Basic and Diluted Earnings (Loss) Per Common Share	The following table illustrates the computation of basic and diluted earnings (loss) per common share for the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 (In thousands of U.S. dollars, except share data) Basic earnings (loss) per share Net income (loss) $ (3,947 ) $ (3,340 ) $ (25,417 ) $ 6,188 Basic weighted average common stock outstanding 41,741,310 44,897,278 42,561,514 45,248,293 Basic earnings (loss) per common share $ (0.09 ) $ (0.07 ) $ (0.60 ) $ 0.14 Diluted earnings (loss) per share Net income (loss) $ (3,947 ) $ (3,340 ) $ (25,417 ) $ 6,188 Basic weighted average common stock outstanding 41,741,310 44,897,278 42,561,514 45,248,293 Net effect of dilutive equity awards — — — 1,081,266 Diluted weighted average common stock outstanding 41,741,310 44,897,278 42,561,514 46,329,559 Diluted earnings (loss) per share $ (0.09 ) $ (0.07 ) $ (0.60 ) $ 0.13
Schedule of Antidilutive Securities Excluded from Computation of Earnings (Loss) Per Common Share	The following outstanding instruments were excluded from the computation of diluted earnings (loss) per share, as they have an anti-dilutive effect on the calculation: Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Options 903,558 1,145,551 903,558 130,000 Restricted Stock Units 1,538,791 1,121,574 1,538,791 —

Inventories - Summary of Invent

Inventories - Summary of Inventories (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Finished goods	$ 5,025		$ 6,799
Semi-finished goods and work-in-process	35,379		40,265
Raw materials	6,664		7,460
Materials in-transit	14		36
Less: inventory reserve	(14,745)	$ (14,941)	(14,677)	$ (10,206)	$ (5,555)	$ (5,730)
Inventories, net	$ 32,337		$ 39,883

Inventories - Changes in Invent

Inventories - Changes in Inventory Reserve (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Changes In Inventory Reserve [Abstract]
Beginning balance	$ (14,941)	$ (5,555)	$ (14,677)	$ (5,730)
Change in reserve [Abstract]
Inventory reserve charged to costs of sales	(2,023)	(6,093)	(4,607)	(7,700)
Sale of previously reserved inventory	2,047	872	3,523	2,324
Change in reserve	24	(5,221)	(1,084)	(5,376)
Write off	67	84	482	295
Translation adjustments	105	486	534	605
Ending balance	$ (14,745)	$ (10,206)	$ (14,745)	$ (10,206)

Property, Plant and Equipment -

Property, Plant and Equipment - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Property, Plant and Equipment [Line Items]
Depreciation expenses	$ 8,183	$ 7,239

Property, Plant and Equipment_2

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 193,245	$ 196,725
Less: accumulated depreciation	(105,929)	(101,502)
Land	12,583	13,034
Construction in progress	1,168	2,490
Property, plant and equipment, net	101,067	110,747
Buildings and Related Structures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	24,048	24,780
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	134,806	137,666
Finance Lease Right-of-Use Assets [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	702	389
Others [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 33,689	$ 33,890

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization expense for intangible assets	$ 319	$ 363

Intangible Assets - Summary of

Intangible Assets - Summary of Intangible Assets (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross amount	$ 8,923	$ 9,111
Accumulated amortization	(7,217)	(7,181)
Net amount	1,706	1,930
Intellectual Property Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Gross amount	8,923	9,111
Accumulated amortization	(7,217)	(7,181)
Net amount	$ 1,706	$ 1,930

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Payroll, benefits and related taxes, excluding severance benefits	$ 7,210	$ 7,620
Withholding tax attributable to intercompany interest income	886	43
Outside service fees	1,522	1,642
Others	838	383
Accrued expenses	$ 10,456	$ 9,688

Derivative Financial Instrume_3

Derivative Financial Instruments - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Derivative [Line Items]
Estimated amount reclassified from accumulated other comprehensive income into income	$ 889
Zero Cost Collar and Forward Contracts [Member] | Nomura Financial Investment (Korea) Co., Ltd. [Member]
Derivative [Line Items]
Threshold amount of cash collateral	500
Cash collateral for credit exposure in derivatives	1,120	$ 1,840
Termination provisions for cash and cash equivalents	$ 30,000
Zero Cost Collar and Forward Contracts [Member] | Standard Chartered Bank Korea Limited [Member]
Derivative [Line Items]
Cash collateral for credit exposure in derivatives		$ 100

Derivative Financial Instrume_4

Derivative Financial Instruments - Details of Derivative Contracts (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Zero Cost Collar One [Member]
Derivative [Line Items]
Date of transaction	Mar. 07, 2022	Jan. 04, 2022
Total notional amount	$ 24,000	$ 30,000
Month of settlement, start	2023-07	2023-01
Month of settlement, end	2023-12	2023-06
Zero Cost Collar Two [Member]
Derivative [Line Items]
Date of transaction	Apr. 27, 2022	Mar. 07, 2022
Total notional amount	$ 24,000	$ 24,000
Month of settlement, start	2023-07	2023-07
Month of settlement, end	2023-12	2023-12
Zero Cost Collar Three [Member]
Derivative [Line Items]
Date of transaction	Mar. 08, 2023	Apr. 27, 2022
Total notional amount	$ 18,000	$ 42,000
Month of settlement, start	2023-07	2023-01
Month of settlement, end	2023-12	2023-12
Zero Cost Collar Four [Member]
Derivative [Line Items]
Date of transaction	Apr. 03, 2023
Total notional amount	$ 23,000
Month of settlement, start	2023-12
Month of settlement, end	2024-06

Derivative Financial Instrume_5

Derivative Financial Instruments - Fair Values of Outstanding Zero Cost Collar and Forward Contracts Recorded as Liabilities (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Liability Derivatives:
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other Liabilities, Current
Zero Cost Collars [Member]
Liability Derivatives:
Other current liabilities	$ 1,776	$ 2,015

Derivative Financial Instrume_6

Derivative Financial Instruments - Offsetting of Derivative Assets and Liabilities (Details) - Zero Cost Collars [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Liability Derivatives:
Gross amounts of recognized liabilities	$ 1,776	$ 2,015
Gross amounts offset in the balance sheets	0	0
Net amounts of liabilities presented in the balance sheets	1,776	2,015
Gross amounts not offset in the balance sheets, Financial instruments	0	0
Gross amounts not offset in the balance sheets, Cash collateral pledged	(1,120)	(1,940)
Net amount	$ 656	$ 75

Derivative Financial Instrume_7

Derivative Financial Instruments - Impact of Derivative Instruments on Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivative [Line Items]
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)	$ 1,243	$ 1,796	$ 1,846	$ 2,558
Cash Flow Hedging [Member]
Derivative [Line Items]
Amount of Loss Recognized in AOCI on Derivatives (Effective Portion)	(375)	(6,477)	(1,510)	(7,741)
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)	(1,243)	(1,796)	(1,846)	(2,558)
Cash Flow Hedging [Member] | Other income, net [Member]
Derivative [Line Items]
Amount of Gain Recognized in Statement of Operations on Derivatives (Ineffective Portion)	(20)	184	(74)	55
Zero Cost Collars [Member] | Cash Flow Hedging [Member]
Derivative [Line Items]
Amount of Loss Recognized in AOCI on Derivatives (Effective Portion)	(375)	(6,477)	(1,510)	(7,741)
Amount of Gain (Loss) Reclassified from AOCI into Statement of Operations (Effective Portion)	(1,243)	(1,796)	(1,846)	(2,558)
Zero Cost Collars [Member] | Cash Flow Hedging [Member] | Other income, net [Member]
Derivative [Line Items]
Amount of Gain Recognized in Statement of Operations on Derivatives (Ineffective Portion)	$ (20)	$ 184	$ (74)	$ 55

Derivative Financial Instrume_8

Derivative Financial Instruments - Cash deposits (Details) - Zero Cost Collar And Forward Contracts [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Deposit Assets [Line Items]
Deposit with counterparty	$ 1,000	$ 1,000
SC
Deposit Assets [Line Items]
Deposit with counterparty	$ 1,000	$ 1,000

Fair Value Measurements - Finan

Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - Fair Value, Measurements, Recurring [Member] - Other Current Liabilities [Member] - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Carrying Value [Member]
Liabilities:
Derivative liabilities	$ 1,776	$ 2,015
Estimate of Fair Value Measurement [Member]
Liabilities:
Derivative liabilities	1,776	2,015
Significant Other Observable Inputs (Level 2) [Member]
Liabilities:
Derivative liabilities	$ 1,776	$ 2,015

Accrued Severance Benefits - Ad

Accrued Severance Benefits - Additional Information (Detail)	6 Months Ended
	Jun. 30, 2023
Percentage of employees eligible for severance benefits	97%
Retirement age of employees	60 years
Korea [Member] | Minimum [Member]
Korea's mandatory retirement age	60 years

Accrued Severance Benefits - Ch

Accrued Severance Benefits - Changes in Accrued Severance Benefits (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Postemployment Benefits [Abstract]
Beginning balance	$ 48,574	$ 50,771	$ 48,496	$ 51,567
Provisions	1,761	1,570	4,091	3,240
Severance payments	(4,857)	(1,545)	(5,728)	(2,934)
Translation adjustments	(357)	(3,210)	(1,738)	(4,287)
Ending balance	45,121	47,586	45,121	47,586
Less: Cumulative contributions to severance insurance deposit accounts	(24,816)	(16,894)	(24,816)	(16,894)
The National Pension Fund	(30)	(44)	(30)	(44)
Group severance insurance plan	(152)	(182)	(152)	(182)
Accrued severance benefits, net	$ 20,123	$ 30,466	$ 20,123	$ 30,466	$ 23,121

Accrued Severance Benefits - Fu

Accrued Severance Benefits - Future Benefits Payments to Employees (Detail) $ in Thousands	Jun. 30, 2023 USD ($)
Postemployment Benefits [Abstract]
Remainder of 2023	$ 168
2024	319
2025	739
2026	669
2027	372
2028	3,514
2029 - 2033	$ 18,215

Early Termination and Other C_2

Early Termination and Other Charges - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Restructuring Cost and Reserve [Line Items]
Minimum requisite period of service for voluntary resignation program			20 years
Early termination charges			$ 8,449
One time employee incentives and professional service fees and expenses	$ 802		$ 802
Expenses incurred in connection with Strategic evaluations		$ 797		$ 797

Foreign Currency Loss, Net - Ad

Foreign Currency Loss, Net - Additional Information (Detail) $ in Thousands	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Foreign Currency Transaction [Abstract]
Exchange rates using first base rate	1,312.8	1,267.3
Intercompany loan balances	$ 293,077	$ 310,988

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Contingency [Line Items]
Income tax expense (benefit)	$ (2,977)	$ (897)	$ (4,204)	$ 2,586

Geographic and Other Informat_3

Geographic and Other Information - Additional Information (Detail)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Customer Concentration Risk [Member] | Net Sales [Member] | Top Ten Customers [Member] | Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	72%	73%	70%	72%
Customer Concentration Risk [Member] | Net Sales [Member] | Top Customer One [Member] | Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	15.10%	26.70%	15%	26.10%
Customer Concentration Risk [Member] | Net Sales [Member] | Top Customer Two [Member] | Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	13.50%	13.30%	14.40%	13.10%
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Top Customer One [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage			59%		56%
Geographic Concentration Risk [Member] | Net Sales [Member] | Asia Pacific Other Than Korea [Member] | Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	67.50%		62.90%
Geographic Concentration Risk [Member] | Net Sales [Member] | CHINA, HONG KONG [Member] | Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage		56.50%		64%
Geographic Concentration Risk [Member] | Net Sales [Member] | VIET NAM | Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk, percentage	11.30%	26.70%	14.40%	20.40%

Geographic and Other Informat_4

Geographic and Other Information - Schedule of Operating Segment (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Total revenues	$ 60,979	$ 101,376	$ 117,984	$ 205,469
Total gross profit	13,538	28,945	25,632	67,941
Standard Products Business [Member]
Segment Reporting Information [Line Items]
Total revenues	51,375	91,288	102,889	185,298
Total gross profit	13,508	27,668	27,710	65,598
Fab 3 Foundry Services [Member]
Segment Reporting Information [Line Items]
Total revenues	9,604	10,088	15,095	20,171
Total gross profit	30	1,277	(2,078)	2,343
Operating Segments [Member] | Standard Products Business [Member]
Segment Reporting Information [Line Items]
Total revenues	51,375	91,288	102,889	185,298
Operating Segments [Member] | Standard Products Business [Member] | Display Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	9,657	28,336	20,498	57,521
Operating Segments [Member] | Standard Products Business [Member] | Power Solutions [Member]
Segment Reporting Information [Line Items]
Total revenues	$ 41,718	$ 62,952	$ 82,391	$ 127,777

Geographic and Other Informat_5

Geographic and Other Information - Net Sales by Region, Based on Location of Products are Billed (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 60,979	$ 101,376	$ 117,984	$ 205,469
Standard products business [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	51,375	91,288	102,889	185,298
Standard products business [Member] | Korea [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	14,394	31,168	30,890	62,198
Standard products business [Member] | Asia Pacific (Other Than Korea) [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	35,024	56,068	66,925	114,328
Standard products business [Member] | United States [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	236	2,492	1,281	5,356
Standard products business [Member] | Europe [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Total revenues	$ 1,721	$ 1,560	$ 3,793	$ 3,416

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Schedule of Accumulated Other Comprehensive Loss (Detail) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Equity [Abstract]
Foreign currency translation adjustments	$ (15,521)	$ (11,328)
Derivative adjustments	(889)	(1,225)
Total	$ (16,410)	$ (12,553)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Changes in Accumulated Other Comprehensive Income Loss (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	$ 393,353	$ 461,162	$ 428,153	$ 452,762
Total other comprehensive loss	(1,417)	(11,543)	(3,857)	(15,090)
Balance ending	364,292	448,147	364,292	448,147
Foreign Currency Translation Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(13,236)	(3,815)	(11,328)	(770)
Other comprehensive loss before reclassifications	(2,285)	(6,862)	(4,193)	(9,907)
Amounts reclassified from accumulated other comprehensive loss	0	0	0	0
Total other comprehensive loss	(2,285)	(6,862)	(4,193)	(9,907)
Balance ending	(15,521)	(10,677)	(15,521)	(10,677)
Derivative Adjustments [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(1,757)	(1,962)	(1,225)	(1,460)
Other comprehensive loss before reclassifications	(375)	(6,477)	(1,510)	(7,741)
Amounts reclassified from accumulated other comprehensive loss	1,243	1,796	1,846	2,558
Total other comprehensive loss	868	(4,681)	336	(5,183)
Balance ending	(889)	(6,643)	(889)	(6,643)
Accumulated Other Comprehensive Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Balance beginning	(14,993)	(5,777)	(12,553)	(2,230)
Other comprehensive loss before reclassifications	(2,660)	(13,339)	(5,703)	(17,648)
Amounts reclassified from accumulated other comprehensive loss	1,243	1,796	1,846	2,558
Total other comprehensive loss	(1,417)	(11,543)	(3,857)	(15,090)
Balance ending	$ (16,410)	$ (17,320)	$ (16,410)	$ (17,320)

Stock Repurchases - Additional

Stock Repurchases - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands			4 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2022	Dec. 21, 2021	Dec. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2021	Aug. 31, 2022
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Accelerated share repurchases, settlement (payment) or receipt		$ 37,500
Accelerated share repurchase program adjustment (in shares)		994,695
Aggregate purchase price of shares		$ 20,073
Sale of stock issue price (in dollars per share)		$ 20.18
Additional Paid-In Capital [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Accelerated stock repurchase					$ 17,217	$ 17,427
Treasury Stock, Common [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Accelerated stock repurchase					$ (17,217)
Accelerated Stock Repurchase Program [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Accelerated stock repurchase		$ 37,500
Accelerated share repurchases, settlement (payment) or receipt	$ 37,500
Accelerated Stock Repurchase Program [Member] | Treasury Stock, Common [Member] | Reclassified As A Treasury Stock From Additional Paid In Capital [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Accelerated share repurchase program adjustment (in shares)				1,031,576
Aggregate purchase price of shares	$ 17,217
Sale of stock issue price (in dollars per share)	$ 16.69
Stock Repurchase Program [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock repurchase program, authorized amount		$ 75,000					$ 87,500
Stock repurchased (in shares)			1,235,650	3,705,443
Aggregate purchase price			$ 12,511	$ 37,429
Sale of aggregate purchase price (in dollars per share)			$ 10.13	$ 10.1
Stock repurchase program, remaining authorized repurchase amount				$ 50,000			$ 50,000

Earnings (Loss) Per Share - Sch

Earnings (Loss) Per Share - Schedule of Computation of Basic and Diluted Loss Per Common Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Basic Earnings (Loss) per Share [Abstract]
Net income (loss)	$ (3,947)	$ (3,340)	$ (25,417)	$ 6,188
Basic weighted average common stock outstanding (in shares)	41,741,310	44,897,278	42,561,514	45,248,293
Basic earnings (loss) per share (in dollars per share)	$ (0.09)	$ (0.07)	$ (0.6)	$ 0.14
Diluted Earnings (Loss) per Share [Abstract]
Basic weighted average common stock outstanding (in shares)	41,741,310	44,897,278	42,561,514	45,248,293
Net effect of dilutive equity awards (in shares)	0	0	0	1,081,266
Diluted weighted average common stock outstanding (in shares)	41,741,310	44,897,278	42,561,514	46,329,559
Diluted earnings (loss) per share (in dollars per share)	$ (0.09)	$ (0.07)	$ (0.6)	$ 0.13

Earnings (Loss) Per Share - S_2

Earnings (Loss) Per Share - Schedule of Antidilutive Securities Excluded from the Computation of Loss Per Common Share (Detail) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding units and warrants excluded from computation of diluted earnings (loss) per share/unit (in shares)	903,558	1,145,551	903,558	130,000
Restricted Stock Units [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Outstanding units and warrants excluded from computation of diluted earnings (loss) per share/unit (in shares)	1,538,791	1,121,574	1,538,791	0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2023	Dec. 31, 2022
Payments to Suppliers and Employees [Abstract]
Prepayments to suppliers	$ 4,117	$ 6,605