Wall Street brokerages predict that Himax Technologies, Inc. (NASDAQ:HIMX) will report $154.33 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Himax Technologies’ earnings, with estimates ranging from $149.90 million to $160.00 million. Himax Technologies reported sales of $201.07 million during the same quarter last year, which would suggest a negative year over year growth rate of 23.2%. The firm is expected to report its next quarterly earnings results before the market opens on Thursday, August 10th.
According to Zacks, analysts expect that Himax Technologies will report full year sales of $154.33 million for the current fiscal year, with estimates ranging from $614.90 million to $760.20 million. For the next year, analysts expect that the company will post sales of $786.43 million per share, with estimates ranging from $658.00 million to $922.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Himax Technologies.
Himax Technologies (NASDAQ:HIMX) last announced its earnings results on Thursday, May 11th. The semiconductor company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by $0.01. Himax Technologies had a net margin of 5.04% and a return on equity of 8.59%. The business had revenue of $155.20 million for the quarter, compared to the consensus estimate of $162.26 million. During the same quarter in the previous year, the company earned $0.08 EPS. Himax Technologies’s revenue for the quarter was down 13.9% compared to the same quarter last year.
HIMX has been the topic of several research reports. Northland Securities reaffirmed an “outperform” rating and issued a $10.00 target price on shares of Himax Technologies in a research report on Wednesday, April 26th. Morgan Stanley upgraded Himax Technologies from an “equal weight” rating to an “overweight” rating and set a $11.50 price target for the company in a research note on Monday, March 27th. Macquarie started coverage on Himax Technologies in a research note on Monday, April 17th. They set an “outperform” rating and a $12.00 target price for the company. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Himax Technologies in a research note on Wednesday, March 22nd. Finally, ValuEngine cut Himax Technologies from a “hold” rating to a “sell” rating in a research note on Thursday, May 18th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.08.
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Shares of Himax Technologies (NASDAQ HIMX) traded up 1.00% during mid-day trading on Wednesday, hitting $8.09. The company’s stock had a trading volume of 8,206,977 shares. Himax Technologies has a 1-year low of $4.88 and a 1-year high of $10.95.
Institutional investors have recently made changes to their positions in the stock. Kayak Investment Partners LLC acquired a new stake in shares of Himax Technologies during the first quarter worth $19,649,000. Point72 Asset Management L.P. purchased a new position in shares of Himax Technologies during the first quarter valued at about $9,279,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Himax Technologies during the first quarter valued at about $3,010,000. Canada Pension Plan Investment Board increased its position in shares of Himax Technologies by 2,325.6% in the first quarter. Canada Pension Plan Investment Board now owns 208,600 shares of the semiconductor company’s stock valued at $1,902,000 after buying an additional 200,000 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Himax Technologies by 339.2% in the first quarter. Bank of Montreal Can now owns 220,113 shares of the semiconductor company’s stock valued at $2,007,000 after buying an additional 170,000 shares in the last quarter. Institutional investors own 22.56% of the company’s stock.
About Himax Technologies
Himax Technologies, Inc is a fabless semiconductor solution provider. The Company is engaged in display driver integrated circuits (IC) and timing controllers used in televisions, laptops, monitors, mobile phones, tablets, digital cameras, car navigation and other consumer electronics devices. The Company operates through two segments: Driver IC and Non-driver products.
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