1/
$HIMX - Great results
- Q4 rev of $275.8M vs $265M est
- 31.2% gross margin vs 22.3% in Q3 & vs 29% guidance. Strong demand & better pricing helped. Allocated capacity to higher margin products
- EPS of 19.7c vs 16.7c est and vs 15-16c guidance
- $60M FCF in Q4 alone
$HIMX - Great results
- Q4 rev of $275.8M vs $265M est
- 31.2% gross margin vs 22.3% in Q3 & vs 29% guidance. Strong demand & better pricing helped. Allocated capacity to higher margin products
- EPS of 19.7c vs 16.7c est and vs 15-16c guidance
- $60M FCF in Q4 alone
2/ Extracts:
$HIMX secured “more capacity for FY21 vs Q4. Expect total capacity to increase qoq in 2021”….“will continue efforts [to acquire] more capacity”.
“Secured meaningful capacity inc in auto where [SC supply shortage] is overwhelming” - its leadership position helps!
$HIMX secured “more capacity for FY21 vs Q4. Expect total capacity to increase qoq in 2021”….“will continue efforts [to acquire] more capacity”.
“Secured meaningful capacity inc in auto where [SC supply shortage] is overwhelming” - its leadership position helps!
3/
“The overall SC industry supply will not have any signf increase any time soon while strong demand is likely to persist longer than exp. In such an environment, $HIMX is preferred supplier to work with for our sizeable scale, diversified vendors & extensive product offerings”
“The overall SC industry supply will not have any signf increase any time soon while strong demand is likely to persist longer than exp. In such an environment, $HIMX is preferred supplier to work with for our sizeable scale, diversified vendors & extensive product offerings”
4/
“With EV emerging as “next big thing”, the car mkt is embracing new display tech & shifting towards larger, more sophisticated & higher perf displays like never before. Already the market leader in auto DD biz, $HIMX foresees further market share gains in the coming years”
“With EV emerging as “next big thing”, the car mkt is embracing new display tech & shifting towards larger, more sophisticated & higher perf displays like never before. Already the market leader in auto DD biz, $HIMX foresees further market share gains in the coming years”
5/
“ $HIMX WLO revenue declined in Q4 due to lower shipments to an anchor customer – however, in Q1’21 – sales expected to increase “substantially” thanks to resumed shipments to fulfil the anchor customer’s higher demand. Should contribute further to Q2 gross margin”
“ $HIMX WLO revenue declined in Q4 due to lower shipments to an anchor customer – however, in Q1’21 – sales expected to increase “substantially” thanks to resumed shipments to fulfil the anchor customer’s higher demand. Should contribute further to Q2 gross margin”
6/
“ $HIMX continues to engage & collaborate with key customers & partners for their next gen products with focus on ToF 3D sensing, AR/VR gadgets, biomedical devices and others”.
Big growth to come from these areas in the future!!
“ $HIMX continues to engage & collaborate with key customers & partners for their next gen products with focus on ToF 3D sensing, AR/VR gadgets, biomedical devices and others”.
Big growth to come from these areas in the future!!
7/
“ $HIMX ‘s WiseEye total solution – to start solid production ramp up from 2021-2nd. For key component biz, other than Google, $HIMX further partnered with SparkFun and Edge Impulse. Developers can now easily access $HIMX ‘s tech and enjoy easy-to-use AI development platform”
“ $HIMX ‘s WiseEye total solution – to start solid production ramp up from 2021-2nd. For key component biz, other than Google, $HIMX further partnered with SparkFun and Edge Impulse. Developers can now easily access $HIMX ‘s tech and enjoy easy-to-use AI development platform”
8/
As $HIMX is the preferred vendor for major Android names, with strong demand for tablets exp to remain, the high margin contribution will continue. "Leading position in auto display means support for high margins as $HIMX anticipates robust sales growth in coming years”
As $HIMX is the preferred vendor for major Android names, with strong demand for tablets exp to remain, the high margin contribution will continue. "Leading position in auto display means support for high margins as $HIMX anticipates robust sales growth in coming years”
9/
Overall, expect growth to be more significant than 10% qoq guidance. I tend to like modest management – and especially love guidance beats.
$HIMX shares +4.3% pre-mkt
Disclosure: In case you haven't guessed till now, I am long $HIMX (Jan'22 calls)
DYODD
Overall, expect growth to be more significant than 10% qoq guidance. I tend to like modest management – and especially love guidance beats.
$HIMX shares +4.3% pre-mkt
Disclosure: In case you haven't guessed till now, I am long $HIMX (Jan'22 calls)
DYODD
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