Himax Technologies (HIMX) Releases Earnings Results

Himax Technologies (NASDAQ:HIMX) issued its earnings results on Thursday. The semiconductor company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02, Morningstar.com reports. The firm had revenue of $188.40 million for the quarter, compared to the consensus estimate of $188.20 million. Himax Technologies had a return on equity of 6.12% and a net margin of 3.66%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. Himax Technologies updated its Q4 2018 guidance to $0.02-0.04 EPS and its Q4 guidance to $0.02-0.04 EPS.

Shares of NASDAQ HIMX traded down $0.41 during mid-day trading on Friday, hitting $4.41. 4,565,723 shares of the stock traded hands, compared to its average volume of 2,079,525. Himax Technologies has a twelve month low of $4.32 and a twelve month high of $13.95. The company has a market cap of $932.80 million, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 32.52 and a beta of -0.27.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in HIMX. Guggenheim Capital LLC boosted its holdings in shares of Himax Technologies by 114.9% during the 1st quarter. Guggenheim Capital LLC now owns 182,223 shares of the semiconductor company’s stock valued at $1,122,000 after acquiring an additional 97,417 shares in the last quarter. SG Capital Management LLC acquired a new stake in shares of Himax Technologies during the 2nd quarter valued at $6,190,000. Pendal Group Ltd acquired a new stake in shares of Himax Technologies during the 2nd quarter valued at $4,812,000. Sheets Smith Wealth Management acquired a new stake in shares of Himax Technologies during the 2nd quarter valued at $183,000. Finally, WESPAC Advisors SoCal LLC acquired a new stake in shares of Himax Technologies during the 2nd quarter valued at $227,000. 22.92% of the stock is currently owned by institutional investors.

A number of brokerages have weighed in on HIMX. BidaskClub raised Himax Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 17th. Cowen set a $7.00 target price on Himax Technologies and gave the company a “hold” rating in a report on Thursday, August 9th. ValuEngine downgraded Himax Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Roth Capital raised Himax Technologies from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Monday, October 1st. Finally, Macquarie downgraded Himax Technologies from an “outperform” rating to a “neutral” rating and reduced their target price for the company from $12.00 to $6.00 in a report on Thursday, August 16th. Three analysts have rated the stock with a sell rating, six have given a hold rating, three have given a buy rating and two have issued a strong buy rating to the company’s stock. Himax Technologies currently has an average rating of “Hold” and an average target price of $7.99.

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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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Earnings History for Himax Technologies (NASDAQ:HIMX)

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