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SUMCO Corporation announced plans to transfer wafer production from the Miyazaki Plant of consolidated subsidiary SUMCO TECHXIV Corporation to other manufacturing facilities, with the aim of improving profitability by reorganizing the production of silicon wafers of 200 mm and smaller.
The current silicon wafer market environment is in a prolonged sluggish demand phase, due to such factors as the drop-off from extraordinary demand during the COVID-19 pandemic, and structural changes in the semiconductor supply chain occasioned by US-China friction.
Drawdown of 300 mm wafer inventories by customers is taking time, as semiconductor production adjustments continue; but overall demand is expected to recover gradually thanks to strong needs for leadingedge products for AI semiconductors and high-performance memory. Demand remains sluggish, however, for small-diameter wafers mainly for consumer, industrial, and automotive uses. Wafers of 150 mm and smaller, in particular, are expected to see falling demand, with customers shifting to 200 mm wafers or lowering their production capacity as manufacturing equipment reaches its end of life.
In this market environment, the SUMCO Group has decided to reorganize the Miyazaki Plant to improve efficiency through consolidation of the production capacity of small wafers. The Miyazaki Plant will become a factory solely for monocrystalline production, while wafer production will be transferred to other domestic plants in the SUMCO Group and to Indonesia, ending wafer production in Miyazaki by the end of 2026.
SUMCO intends to reassign employees affected by the reorganization to 300 mm wafer operations after the end of wafer production in Miyazaki. With this reorganization, expenses for business structural reforms have been posted for fiscal 2024 as extraordinary losses totaling 5.8 billion yen, consisting of an impairment loss on non-current assets of 4.6 billion yen and an inventory write-down, etc., of 1.2 billion yen.
The SUMCO Group is committed to ongoing efficiency-raising initiatives, including reorganization of production facilities. Moreover, with the accelerating pace of innovation in semiconductor technology, in addition to strategically making use of advanced manufacturing equipment currently under preparation for operation, we will focus management resources on modernizing equipment in existing 300 mm plants and boost our capacity for supplying leading-edge products for AI with their remarkable growth, as we strive to further raise our corporate value.
Original – SUMCO
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onsemi announced its fourth quarter and fiscal year 2024 results with the following highlights:
- Fourth quarter revenue of $1,722.5 million
- Fourth quarter GAAP gross margin and non-GAAP gross margin of 45.2% and 45.3%, respectively
- Fourth quarter GAAP operating margin and non-GAAP operating margin of 23.7% and 26.7%, respectively
- Fourth quarter GAAP diluted earnings per share of $0.88 and non-GAAP diluted earnings per share of $0.95, respectively
- Full year 2024 free cash flow of $1.2 billion, a 3X increase year-over-year
“As we continue to navigate this market downturn, our actions over the last four years have proven we are a structurally different company that is well-equipped to navigate prolonged volatility,” said Hassane El-Khoury, president and CEO, onsemi. “While 2025 remains uncertain, we remain committed to our long-term strategy. We will maintain our financial discipline, streamline our operations and continue to deliver high-value, differentiated intelligent power and sensing solutions that position onsemi to emerge even stronger.”
Original – onsemi
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Power Integrations announced financial results for the quarter and year ended December 31, 2024. Net revenues for the fourth quarter were $105.2 million, down nine percent from the prior quarter and up 18 percent from the fourth quarter of 2023. GAAP net income for the fourth quarter was $9.1 million or $0.16 per diluted share compared to $0.25 per diluted share in the prior quarter and $0.25 per diluted share in the fourth quarter of 2023. Cash flow from operations for the fourth quarter was $14.7 million.
In addition to its GAAP results, the company provided non-GAAP measures that exclude stock-based compensation, amortization of acquisition-related intangible assets and the related tax effects. Non-GAAP net income for the fourth quarter of 2024 was $17.2 million or $0.30 per diluted share compared to $0.40 per diluted share in the prior quarter and $0.22 per diluted share in the fourth quarter of 2023. A reconciliation of GAAP to non-GAAP financial results is included with the tables accompanying this press release.
For the full year, net revenues were $419.0 million, compared to $444.5 million in the prior year. Full-year GAAP net income was $32.2 million or $0.56 per diluted share, compared to $0.97 per diluted share in the prior year. Non-GAAP net income was $1.16 per diluted share, compared to $1.29 per diluted share in the prior year. Cash flow from operations for the full year was $81.2 million.
Commented Balu Balakrishnan, chairman and CEO of Power Integrations: “Fourth-quarter revenues were up 18 percent year-over-year, and we expect another double-digit increase in the first quarter. While the demand outlook is cloudy, especially in light of uncertainty around trade policy, we expect growth in a variety of end-markets in 2025, including renewable energy, high-voltage DC transmission, metering, automotive, appliances and more. Products featuring our proprietary PowiGaN™ technology should contribute significant growth this year as adoption accelerates across a broad set of high-voltage power-conversion applications.”
Additional Highlights
- Power Integrations paid a dividend of $0.21 per share on December 31, 2024. A dividend of $0.21 per share will be paid on March 31, 2025, to stockholders of record as of February 28, 2025.
- The company utilized $1.9 million for share repurchases during the fourth quarter, leaving $48.1 million remaining on its repurchase authorization as of December 31.
Financial Outlook
The company issued the following forecast for the first quarter of 2025:
- Revenues are expected to be flat compared to the fourth quarter of 2024, plus or minus five percent.
- GAAP gross margin is expected to be between 55 percent and 55.5 percent, and non-GAAP gross margin is expected to be between 55.5 percent and 56 percent. The difference between GAAP and non-GAAP is primarily attributable to stock-based compensation, with a smaller impact from amortization of acquisition-related intangible assets.
- GAAP operating expenses are expected to be approximately $54 million; non-GAAP operating expenses are expected to be approximately $45 million. Non-GAAP operating expenses are expected to exclude approximately $9 million of stock-based compensation.
Original – Power Integrations
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MCC Semi announced four new components in advanced P-channel MOSFET lineup. Supporting -100V applications from battery protection to motor drives and high-side switches, MCAC085P10, MCAC055P10, MCU055P10, and MCU085P10 are made for reliability in challenging environments.
With a maximum on-resistance of 55mΩ or 85mΩ, these MOSFETs improve overall system efficiency while reducing power dissipation. Leveraging trench technology and superior thermal performance, these versatile solutions provide engineers with high power density in a compact DFN5060 or DPAK package.
New P-channel MOSFETs are the obvious choice for unmatched performance and effective power management.
Features & Benefits:
- Trench MOSFET Technology: Enhances current capacity and reduces on-resistance
- Low On-Resistance: A maximum RDS(on) of 55mΩ or 85mΩ minimizes power consumption and boosts efficiency
- Low Conduction Losses: Reduce heat generation while improving overall system operation
- Excellent Thermal Performance: Safeguards device from overheating during use in high-temp scenarios
- High Power Density: Available in compact DFN5060 and DPAK package options
Original – Micro Commercial Components
