What happened 

Shares of Himax Technologies (HIMX 2.25%) were tumbling this morning after the company reported fourth-quarter 2021 results. While both revenue and earnings outpaced Wall Street's expectations, investors may have focused their attention on management's 2022 guidance. 

The tech stock was down by 10.7% as of 12:18 p.m. ET. 

So what 

The fabless semiconductor company reported diluted earnings per share of $0.85, up from $0.20 in the year-ago quarter, and above analysts' consensus estimate of $0.82 per share. Himax's revenue in the fourth quarter was $451.9 million, up 64% year over year, and outpaced Wall Street's expectation of $450.3 million.  

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Image source: Getty Images.

Himax CEO Jordan Wu said in a press release that the company is "upbeat about our year ahead" and that two main product areas the company will focus on will be in the automotive segment and artificial intelligence. 

But investors may have latched onto other comments by Himax's management, including the fact that the company expects "the industrywide foundry capacity shortage" to extend "well into 2022." 

As a result, management issued revenue guidance for the first quarter that will decline 5% to 9% sequentially, and that there will be a "modest sequential decline" of gross margin.

Now what 

Himax Technologies' share price is down 14% over the past six months, and today's news didn't exactly bring back investors' confidence. 

Investors may need to keep a close eye on the company's upcoming quarterly earnings reports to determine if they think Himax is weathering the current chip shortage successfully.