Key takeaways
- Himax sees fourth-quarter revenue falling 22% to 26% after a sudden pullback in auto chips.
- Shares had plunged nearly 28% to $7.55 by about 2:30 p.m. ET on Thursday, a steep decline exacerbated by a broader market sell-off targeting AI-linked names.
- Third-quarter revenue rose 8.5% to $246.8 million from the prior quarter, and gross margin improved to 34.2% from 33.1%.
Himax said on its Thursday earnings call that it expects fourth-quarter revenue to drop 22% to 26% from the third quarter, with its shares down nearly 30% in Thursday trading. President and CEO Jordan Wu said on the call that demand fell suddenly after China's early-October National Day holidays among customers that had bought aggressively in prior quarters.
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