Himax Technologies (HIMX) Stock: Why It Increased 3.96%

By Amit Chowdhry ● Jun 22, 2022
  • The stock price of Himax Technologies, Inc. (NASDAQ: HIMX) increased by 3.96% in the most recent trading session. This is why.

The stock price of Himax Technologies, Inc. (NASDAQ: HIMX) – a leading supplier and fabless manufacturer of display drivers and other semiconductor products – increased by 3.96% in the most recent trading session. Investors responded positively to Himax announcing updates on the second quarter 2022 financial guidance for the 3 months ending June 30, 2022. The revised second-quarter revenues and EPS are lower than the forward-looking guidance provided on May 12, 2022. The gross margin guidance remains unchanged.

These are some of the highlights:

— Revenues are expected to decrease 22% – 27% sequentially, lower than the previous guidance of 16% – 20% sequential decline.

— Gross margin is expected to be around 43.0% to 45.0%, the same as previous guidance.

— Non-IFRS earnings per diluted ADS are expected to be in the range of 40.0 cents to 45.0 cents, lower than the previous guidance of 45.0 cents to 50.0 cents.

— IFRS earnings per diluted ADS are expected to be in the range of 36.5 cents to 41.5 cents, lower than the previous guidance of 41.5 cents to 46.5 cents.

KEY QUOTE:

“The revised Q2 guidance reflects weaker macro environment and slowing end market demands, resulting from recent interest rate hikes and inflationary pressure. In response, panel customers are cutting back production and further tightening inventory levels. We will give detailed updates on the upcoming earnings call.”

— Jordan Wu, President and Chief Executive Officer of Himax

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.