News to Watch: Himax Technologies (NASDAQ:HIMX)

Himax Technologies (NASDAQ:HIMX) spotted trading -11.81% off 52-week high price. On the other end, the stock has been noted 323.12% away from the low price over the last 52-weeks. The stock changed -0.68% to recent value of $7.32. The stock transacted 2704109 shares during most recent day however it has an average volume of 1.84M shares. The company has 172.18M of outstanding shares and 123.62M shares were floated in the market.

On Jan. 6, 2021, Himax Technologies (NASDAQ:HIMX) a leading supplier and fabless manufacturer of display drivers and other semiconductor products,  pre- declared preliminary unaudited key financial results for the three months ended December 31st, 2020. The fourth quarter revenues, gross margin and EPS all exceeded the guidance issued on November 12th, 2020. Both revenues and gross margin hit record highs in the fourth quarter of 2020.

  • Revenues were $275.8 million, an increase of 14.9% sequentially from $239.9 million in the third quarter of 2020, higher than the guidance of around 10% sequential increase. This represents an increase of 57.6% year-over-year.
  • Gross margin was 31.2%, exceeding the guidance of around 29%. This represents an increase of 890 basis points sequentially and an increase of 1,060 basis points compared to the same period last year.
  • IFRS earnings per diluted ADS were expected to be around 19.5 cents, exceeding the guidance of around 15.0 cents to 16.0 cents. This compares to 4.9 cents in the previous quarter and 0.6 cents in the same period last year.
  • Non-IFRS earnings per diluted ADS were expected to be around 19.7 cents, exceeding the guidance of around 15.1 cents to 16.1 cents. This compares to 7.3 cents in the previous quarter and 0.9 cents in the same period last year.

Both revenues and gross margin reached new highs in the quarter, thanks to strong momentum across all major business segments. Bucking slow seasonality into the first quarter, the business momentum continues to stay strong at the moment. We will give detailed updates in the upcoming earnings call, said Mr. Jordan Wu, President and Chief Executive Officer of Himax. The Company will provide its full financial report with investors and analysts at the next conference call in February. The exact date will be announced soon.

Its earnings per share (EPS) expected to touch remained -284.70% for this year while earning per share for the next 5-years is expected to reach at 25.00%. HIMX has a gross margin of 21.70% and an operating margin of 1.80% while its profit margin remained 1.80% for the last 12 months.

According to the most recent quarter its current ratio was 2 that represents company’s ability to meet its current financial obligations. The price moved ahead of 4.86% from the mean of 20 days, 29.81% from mean of 50 days SMA and performed 81.57% from mean of 200 days price. Company’s performance for the week was 8.28%, 7.49% for month and YTD performance remained -0.95%.

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