Semiconductor Company Himax Technologies Surpasses Q3 Street Expectations, Credits Positive Order Momentum
Portfolio Pulse from Akanksha Bakshi
Himax Technologies, Inc (NASDAQ:HIMX) reported Q3 FY23 revenue growth of 11.6% YoY to $238.52 million, surpassing the consensus of $229.38 million. Earnings per ADS was $0.06, beating the consensus of $0.04. The company's Q3 gross margin reached 31.4%, improving due to the termination of high-cost foundry capacity agreements. However, HIMX expects net revenues to decline 5.0% to 11.0% sequentially in 4Q23. Following the announcement, HIMX shares traded higher by 6.01%.
November 09, 2023 | 2:57 pm
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Himax Technologies surpassed Q3 expectations with an 11.6% YoY revenue growth and higher earnings per ADS. However, the company expects a sequential decline in net revenues for 4Q23. The stock price increased by 6.01% following the announcement.
Himax Technologies reported strong Q3 results, beating consensus estimates for both revenue and earnings per ADS. This positive news likely contributed to the 6.01% increase in the company's stock price. However, the company's guidance for a sequential decline in net revenues for 4Q23 could potentially impact the stock negatively in the future.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100