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Stock Alert: Himax Technologies Adds 11% On Q1 Prel. Results; Optimistic Outlook

Shares of semiconductor solution provider Himax Technologies, Inc. (HIMX) are up more than 11% Wednesday morning after reporting first-quarter preliminary results. The company also expects strong results for its second quarter.

Preliminary earnings on an adjusted basis were $0.38 compared with the average estimate of analysts polled by Thomson Reuters of $0.31 per share.

Preliminary revenues were $309 million compared with the consensus estimate of $294.98 million.

"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," said Jordan Wu, President and Chief Executive Officer of Himax.

HIMX, currently at $16.03 has been trading in the range of $2.81- $17.88 in the last one year

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