Gentex Corp Stock Price, News & Analysis

Gentex (NASDAQ: GNTX) has promoted Neil Boehm from Chief Technology Officer to Chief Operations Officer, while maintaining his CTO role. This strategic move aims to better align the company's business operations with its innovation and product strategies. Boehm, who joined Gentex in 2001, has served in various leadership roles including Vice President of Engineering before becoming CTO in 2018.

The promotion reflects Gentex's focus on operational excellence alongside technology and innovation as the company pursues ambitious growth targets. Boehm's background includes significant experience in product development, engineering, and international customer relations, including previous work at Johnson Controls with an expatriate assignment in Japan.

Gentex is a technology company specializing in electro-optical products for automotive, aerospace, fire protection, and medical industries, with expanding capabilities in vision systems, sensing, AI development, biometrics, and home automation.

Gentex (NASDAQ: GNTX) has announced a definitive agreement to acquire VOXX International in an all-cash transaction at $7.50 per share. The acquisition, expected to close in Q1 2025, will add $350-400 million in annual revenue and is projected to contribute $40-50 million in pro-forma annual EBITDA after implementing profitability improvements.

The strategic acquisition includes EyeLock® iris biometric technology and the Premium Audio Company, featuring brands like Klipsch®, Onkyo®, and Integra®. Gentex plans to leverage its high-volume manufacturing expertise to expand in consumer technology and connected home spaces. The deal includes post-closing tax benefits of $15-20 million in tax loss and credit carryforwards over 5-6 years.

VOXX International has announced a definitive merger agreement with Gentex , where Gentex will acquire VOXX in an all-cash transaction valued at approximately $196 million. Under the agreement, Gentex will purchase all outstanding VOXX shares for $7.50 per share, representing a 163% premium over the unaffected closing price of $2.85 on August 26, 2024.

The transaction was unanimously approved by VOXX's transaction committee and disinterested board members after a thorough sales process led by Solomon Partners. The Shalam family, holding approximately 57% of voting power, has agreed to vote in favor of the merger. The deal is expected to close during Q1 2025, subject to stockholder approval and regulatory clearances.

Gentex (NASDAQ: GNTX) has announced its fourth quarter 2024 cash dividend. The Board of Directors has declared a quarterly dividend of $0.12 per share, payable on January 22, 2025, to shareholders of record as of January 8, 2025. Gentex is a supplier of digital vision, connected car, dimmable glass, and fire protection technologies based in Zeeland, Michigan.

Gentex (NASDAQ: GNTX) is showcasing its latest automotive technologies at the SEMA Show 2024 in Las Vegas. The company's booth will host three major vehicle unveils: Ringbrothers' INVADR (a 1,246 HP 1987 Buick Grand National) and TUKA (a 1972 Chevy Blazer), along with Label Motorsports' Project Opsis (a Chevy Corvette Z06).

The company will display its automotive portfolio including car-to-home automation, connectivity, e-concierge, digital vision, and dimmable glass products. Featured technologies include HomeLink, Integrated Toll Module, Full Display Mirror, and a dimmable sun visor concept. The unveiling events will take place at 1 p.m. on November 5 at Gentex's booth #23889 in Central Hall.

Gentex (NASDAQ: GNTX) reported record Q3 2024 net sales of $608.5 million, a 6% increase from Q3 2023, despite light vehicle production declining 6% in primary markets. The company achieved a gross profit margin of 33.5%, up 60 basis points from Q2 2024. Net income rose 17% to $122.5 million, with earnings per diluted share increasing 18% to $0.53. The company repurchased 3.2 million shares during the quarter. Due to market conditions, Gentex revised its 2024 revenue guidance to $2.35-$2.40 billion and updated 2025 revenue estimates to $2.45-$2.55 billion.

Gentex (NASDAQ: GNTX), a supplier of digital vision, connected car, dimmable glass, and fire protection technologies, has announced the release date for its third quarter 2024 financial results. The results will be released on Friday, October 25, before the market opens.

The company will host a conference call for the investment community at 9:30am ET to discuss the results. The call will also be available to the general public via a live audio webcast. Participants who wish to ask questions can register for the call to receive dial-in numbers and a unique PIN. A listen-only webcast option is also available for those who do not plan to ask questions.

A webcast replay will be accessible approximately 24 hours after the call concludes on the Gentex investor relations website.

Solace Power Inc., a leader in wireless power technology, has appointed Neil Desai as Chair of its Board of Directors. Desai brings extensive experience in global technology commercialization, having played a key role in Magnet Forensics' growth from startup to a publicly-traded company with a $1.8-billion sale. CEO Neil Chaulk welcomed Desai, highlighting his strategic insights and commercialization experience as valuable assets for Solace's expansion.

Desai, who serves on several boards and is a senior fellow at the Centre for International Governance Innovation, expressed enthusiasm about joining Solace at a important time. He emphasized the transformative potential of wireless power technology and Solace's strong position to lead the emerging global market. The appointment follows Solace's recent successes, including the launch of power through-window technology for telecom and a partnership with Gentex (NASDAQ: GNTX) in the automotive sector.

Gentex (NASDAQ: GNTX), a leading supplier of digital vision, connected car, dimmable glass, and fire protection technologies, has announced a quarterly cash dividend of $0.12 per share. The dividend will be payable on October 23, 2024, to shareholders of record at the close of business on October 9, 2024.

Gentex, founded in 1974, is primarily known for its automatic-dimming rearview mirrors and electronics in the automotive industry. The company also produces dimmable aircraft windows for aviation markets and fire protection products. This dividend announcement demonstrates Gentex's commitment to providing value to its shareholders.