Himax Technologies (NASDAQ:HIMX) issued its quarterly earnings results 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. Himax Technologies had a return on equity of 6.12% and a net margin of 3.66%. The firm had revenue of $188.40 million during the quarter, compared to analysts’ expectations of $188.20 million. During the same period in the prior year, the firm posted $0.05 earnings per share. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Himax Technologies updated its Q4 2018 guidance to $0.02-0.04 EPS and its Q4 guidance to $0.02-0.04 EPS.
NASDAQ:HIMX traded down $0.41 on Friday, hitting $4.41. The company’s stock had a trading volume of 4,565,723 shares, compared to its average volume of 2,079,525. The firm has a market capitalization of $932.80 million, a price-to-earnings ratio of 27.56, a P/E/G ratio of 32.52 and a beta of -0.27. Himax Technologies has a one year low of $4.32 and a one year high of $13.95.
A number of large investors have recently added to or reduced their stakes in the business. SG Capital Management LLC bought a new stake in Himax Technologies in the second quarter valued at approximately $6,190,000. Pendal Group Ltd bought a new position in shares of Himax Technologies during the second quarter worth approximately $4,812,000. Bank of America Corp DE increased its stake in shares of Himax Technologies by 611.1% during 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 period. Point72 Asset Management L.P. bought a new position in shares of Himax Technologies during the second quarter worth approximately $3,886,000. Finally, Guggenheim Capital LLC increased its stake in shares of Himax Technologies by 114.9% during 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 period. Hedge funds and other institutional investors own 22.92% of the company’s stock.
Several research analysts recently commented on HIMX shares. BidaskClub raised Himax Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 17th. ValuEngine cut Himax Technologies from a “hold” rating to a “sell” rating in a research report on Tuesday, July 31st. Cowen set a $7.00 price target on Himax Technologies and gave the company a “hold” rating in a research report on Thursday, August 9th. Macquarie cut Himax Technologies from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $12.00 to $6.00 in a research report on Thursday, August 16th. Finally, Lake Street Capital set a $8.00 price target on Himax Technologies and gave the company a “buy” rating in a research report on Tuesday, September 25th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Himax Technologies currently has an average rating of “Hold” and a consensus 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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