Stock News in Focus: Himax Technologies (NASDAQ:HIMX)

Himax Technologies (NASDAQ:HIMX) stock observed trading -45.29% off 52-week high price. On the other end, the stock has been noted 64.12% away from low price over the last 52-weeks. The stock disclosed a move of -25.66% away from 50 day moving average and -4.90% away from 200 day moving average. Moving closer, we can see that shares have been trading -0.91% off 20-day moving average. It has market cap of $528.59M.

On April 3, 2020, Himax Technologies (NASDAQ:HIMX) a leading supplier and fabless manufacturer of display drivers and other semiconductor products,  pre- reported preliminary unaudited key financial results for the three months ended March 31st, 2020. The first quarter revenues met its guidance, while gross margin and EPS both exceeded guidance issued on February 13th, 2020.

  • Revenues were $184.6 million, an increase of 5.5% sequentially versus the guidance of an increase between 1.0% to 10.0%. This represents an increase of 13.0% year-over-year.
  • Gross Margin was around 22.7%, exceeding the guidance of an increase of 1.0% to 2.0% from the 20.6% delivered in the fourth quarter of 2019.
  • IFRS earnings per diluted ADS were expected to be around 1.9 cents, exceeding the guidance of -0.5 to 1.8 cents per diluted ADS.
  • Non-IFRS earnings per diluted ADS were expected to be around 2.2 cents, exceeding the guidance of -0.2 to 2.1 cents per diluted ADS.

In light of the Covid-19 pandemic and uncertain market sentiments that are affecting the whole world, the management decided to issue preliminary financial results immediately following the end of the quarter. We are pleased to be able to deliver the strong first quarter results and will continue to work extremely closely with both our customers and suppliers in joint efforts to mitigate the risks arising from the pandemic. We will report further details on our next earnings call in May, said Jordan Wu, President and Chief Executive Officer of Himax Technologies.

The Taiwan based company Himax Technologies moved with change of -1.41% to $2.79 with the total traded volume of 1444235 shares in recent session versus to an average volume of 2.02M. The stock was observed in the 5 days activity at 7.72%. The one month performance of stock was -31.95%. HIMX’s shares are at -8.82% for the quarter and driving a -15.71% return over the course of the past year and is now at 4.89% since this point in 2018.  Right now the stock beta is 0.65. The average volatility for the week and month was at 7.23% and 10.87% respectively. There are 189.46M shares outstanding and 148.70M shares are floated in market.

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