Brokerages expect Himax Technologies, Inc. (NASDAQ:HIMX) to report $159.95 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Himax Technologies’ earnings. The lowest sales estimate is $159.00 million and the highest is $160.90 million. Himax Technologies reported sales of $188.38 million in the same quarter last year, which suggests a negative year-over-year growth rate of 15.1%. The business is expected to announce its next earnings report on Thursday, November 14th.
On average, analysts expect that Himax Technologies will report full year sales of $646.00 million for the current fiscal year, with estimates ranging from $645.30 million to $646.70 million. For the next year, analysts expect that the firm will report sales of $670.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Himax Technologies.
Himax Technologies (NASDAQ:HIMX) last announced its quarterly earnings data on Thursday, August 8th. The semiconductor company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $169.30 million during the quarter, compared to analyst estimates of $170.16 million. Himax Technologies had a return on equity of 0.76% and a net margin of 0.26%. The firm’s revenue for the quarter was down 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS.
Several research firms have recently issued reports on HIMX. Credit Suisse Group cut Himax Technologies from a “neutral” rating to an “underperform” rating in a research note on Friday, August 9th. BidaskClub raised Himax Technologies from a “strong sell” rating to a “sell” rating in a research note on Thursday. Zacks Investment Research cut Himax Technologies from a “hold” rating to a “sell” rating in a research note on Friday. Northland Securities reissued a “hold” rating and set a $2.50 target price on shares of Himax Technologies in a research note on Friday, August 9th. Finally, ValuEngine cut Himax Technologies from a “hold” rating to a “sell” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $4.67.
Shares of HIMX traded up $0.04 during mid-day trading on Tuesday, hitting $2.11. 109,887 shares of the company’s stock traded hands, compared to its average volume of 1,487,618. Himax Technologies has a 1 year low of $1.70 and a 1 year high of $6.66. The firm has a market capitalization of $375.28 million, a P/E ratio of 35.17 and a beta of 0.06. The business’s 50-day moving average price is $2.51 and its 200-day moving average price is $3.18.
Hedge funds have recently modified their holdings of the stock. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Himax Technologies by 9.2% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 53,989 shares of the semiconductor company’s stock valued at $172,000 after purchasing an additional 4,529 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in Himax Technologies by 201.9% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,007 shares of the semiconductor company’s stock valued at $29,000 after purchasing an additional 6,024 shares in the last quarter. TRUE Private Wealth Advisors bought a new stake in Himax Technologies during the 2nd quarter valued at $26,000. US Bancorp DE raised its position in Himax Technologies by 947.1% during the 2nd quarter. US Bancorp DE now owns 11,047 shares of the semiconductor company’s stock valued at $39,000 after purchasing an additional 9,992 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in Himax Technologies during the 2nd quarter valued at $53,000. 9.60% of the stock is owned by hedge funds and other institutional investors.
Himax Technologies Company Profile
Himax Technologies, Inc, a fabless semiconductor company, provides display imaging processing technologies worldwide. The company operates in two segments, Driver IC and Non-Driver Products. It offers display driver integrated circuits (ICs) and timing controllers used in televisions (TVs), laptops, monitors, mobile phones, tablets, digital cameras, car navigation, and other consumer electronics devices.
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