Friday, July 23, 2021

Himax Technologies (HIMX) Stock Price Surged More Than 2.17% In afterhours trading. Here’s What Happened

Share Price of Taiwanese fabless semiconductor provider, Himax Technologies (HIMX), increased a staggering 2.35% in the normal trading session on the Nasdaq Stock Market, however it gained 2.17% in after-hours trading. Himax announced its first-quarter report in 2021 earning more than $0.38 per share and had sales of $309 million, which had beaten investor expectations.


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Furthermore, HIMX predicts to announce year-over-year sales growth of 67%, and a gross profit margin of 40.2%, depicting 17.5 percentage points from last year’s Quarter and peaking shareholder interest in the company.


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Revenue generated was a grand total of $309.0 million addressing a surge of 12.1% compared to $275.8 million in the fourth quarter of 2020, representing an increase of 67.4% year-over-year

“Revenues, gross margin, and EPS all hit new records in this quarter, surpassing our prior highs in the fourth quarter of 2020, thanks to persisting demand across our major business segments. Looking into the second quarter, the demands remain robust and the global semiconductor shortage has not shown signs of receding. We expect another strong financial result for the second quarter,” stated Jordan Wu, President, and CEO of Himax, showing immense belief in the company’s future financial gains.

Himax Stock Is Trading Higher On Partnership With BOE Varitronix

Fabless semiconductor companyHIMX and automotive display products distributor BOE Varitronix Limited (BOEVx) formed a strategic partnership for a non-rigid AMOLED automotive display solution with a new energy vehicle (NEV) manufacturer. The customer’s upcoming launch of a flagship NEV model will use the display which is empowered from superior user visual delight and colorful chip performance.

The established relationship will increase commercializing modern display solutions to the lucrative car industry, expecting NEV as their main buyer, according to Himax CEO Jordan Wu, due to which HIMX stocks soared.

Conclusion

HIMX operates in the lucrative field of development, and commercialization of fabless semiconductors. Its long-term revenue growth and incredible increment of the stock price has proven to be a success however reliance on a small group of principal customers and market acceptance and competitiveness of the driver have the potential to stop further financial success due to which investors may be skeptical, however HIMX, been trading in the range of $2.81- $17.88 in the last one year, depicting a volatile nature of the stock.

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