Himax Technologies, Inc. (NASDAQ: HIMX) is having a relatively strong start to the trading session in the pre-market hours this morning, and for good reason. The company announced preliminary, unaudited financial results for the third quarter. Of course, the results were positive, exciting investors and sending the stock on a run for the top. Today, we’ll talk about:
- The results;
- what we’re seeing from HIMX stock as a result; and
- what we’ll be watching for ahead.
HIMX Heads Up On Financial Update
As mentioned above, Himax Technologies is having a great start to the trading session this morning after releasing preliminary financial results. Here’s what we saw from the press release:
Revenue – Revenue came in at $188.4 million. That figure has increased 3.9%. However, guidance suggested no increase. The company said that the revenue increase was attributed to greater-than-expected production output of new foundries for large display driver ICs and TDDI chips.
Gross Margin – HIMX said that gross margin came in at 23.4%. The company previously guided for gross margin to come in around 22.5%.
Earnings Per Share – IFRS earnings per share came in at about a half a penny, comparing well to guidance of a loss of one cent. Non-IFRS earnings per share came in at 2.6 cents, once again higher than guidance of 1.5 cents.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to dig into the market is that the news leads to moves. In the case of HIMX, the news proved to be overwhelmingly positive. Not only did the company provide an early look at third quarter results, the results provided were positive. So, it comes as no surprise to see that excited investors are pushing the stock toward the top in the market this morning. At the moment (6:48), HIMX is trading at $6.64 per share after a gain of $0.23 per share or 3.59% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on HIMX. In particular, we’re interested in digging into the company’s full earnings report as well as following the company through its continued impressive growth. Nonetheless, we’ll continue to keep an eye on the news and bring it to you as it breaks!
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