Himax Technologies (HIMX) Issues Quarterly Earnings Results

Himax Technologies (NASDAQ:HIMX) announced its quarterly earnings data on Thursday. The semiconductor company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02, Morningstar.com reports. The business had revenue of $188.40 million during the quarter, compared to the consensus estimate of $188.20 million. Himax Technologies had a net margin of 3.66% and a return on equity of 6.12%. The company’s revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.05 earnings per share. 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 trading on Friday, hitting $4.41. 4,565,723 shares of the company were exchanged, compared to its average volume of 2,079,525. Himax Technologies has a 1-year low of $4.32 and a 1-year high of $13.95. The company has a market capitalization of $932.80 million, a PE ratio of 27.56, a price-to-earnings-growth ratio of 32.52 and a beta of -0.27.

Several institutional investors have recently modified their holdings of the stock. SG Capital Management LLC bought a new stake in shares of Himax Technologies in the second quarter worth $6,190,000. Pendal Group Ltd bought a new stake in shares of Himax Technologies in the second quarter worth $4,812,000. Bank of America Corp DE grew its stake in shares of Himax Technologies by 611.1% in the second quarter. Bank of America Corp DE now owns 551,903 shares of the semiconductor company’s stock worth $4,117,000 after purchasing an additional 474,291 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Himax Technologies in the second quarter worth $3,886,000. Finally, Guggenheim Capital LLC grew its stake in shares of Himax Technologies by 114.9% in the first quarter. Guggenheim Capital LLC now owns 182,223 shares of the semiconductor company’s stock worth $1,122,000 after purchasing an additional 97,417 shares during the last quarter. 22.92% of the stock is currently owned by institutional investors.

Several research analysts have recently issued reports on the stock. BidaskClub upgraded shares of Himax Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 17th. Cowen set a $7.00 price target on shares of Himax Technologies and gave the stock a “hold” rating in a report on Thursday, August 9th. ValuEngine downgraded shares of Himax Technologies from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Roth Capital upgraded shares of Himax Technologies from a “neutral” rating to a “buy” rating and set a $7.00 price target for the company in a report on Monday, October 1st. Finally, Macquarie downgraded shares of Himax Technologies from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $12.00 to $6.00 in a report on Thursday, August 16th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $7.99.

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About Himax Technologies

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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