Himax Technologies (HIMX) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

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.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally posted by The Lincolnian Online and is the sole property of of The Lincolnian Online. If you are reading this piece of content on another website, it was copied illegally and reposted in violation of US and international trademark and copyright legislation. The original version of this piece of content can be read at https://www.thelincolnianonline.com/2018/11/10/himax-technologies-himx-announces-quarterly-earnings-results-beats-estimates-by-0-02-eps.html.

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.

Featured Story: What is the float in trading stocks?

Earnings History for Himax Technologies (NASDAQ:HIMX)

Receive News & Ratings for Himax Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Himax Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply