Wall Street analysts expect that Himax Technologies, Inc. (NASDAQ:HIMX) will announce sales of $172.55 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Himax Technologies’ earnings, with the lowest sales estimate coming in at $170.10 million and the highest estimate coming in at $175.00 million. Himax Technologies reported sales of $169.32 million in the same quarter last year, which would suggest a positive year over year growth rate of 1.9%. The company is expected to issue its next quarterly earnings results on Thursday, August 13th.
On average, analysts expect that Himax Technologies will report full year sales of $710.77 million for the current fiscal year, with estimates ranging from $704.60 million to $716.94 million. For the next year, analysts anticipate that the company will post sales of $825.07 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Himax Technologies.
Himax Technologies (NASDAQ:HIMX) last released its earnings results on Thursday, May 14th. The semiconductor company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. Himax Technologies had a negative return on equity of 1.62% and a negative net margin of 1.15%. The firm had revenue of $184.60 million for the quarter, compared to analysts’ expectations of $187.49 million. During the same period in the prior year, the firm posted ($0.01) earnings per share. The company’s quarterly revenue was up 13.0% on a year-over-year basis.
HIMX has been the topic of a number of recent research reports. Zacks Investment Research downgraded Himax Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 15th. Northland Securities restated a “hold” rating and issued a $3.50 price target on shares of Himax Technologies in a research report on Monday, May 11th. Robert W. Baird initiated coverage on Himax Technologies in a research report on Wednesday, March 25th. They set an “outperform” rating and a $6.00 target price for the company. Credit Suisse Group upgraded Himax Technologies from a “neutral” rating to an “outperform” rating and set a $4.00 price target for the company in a report on Wednesday, April 1st. Finally, BidaskClub cut Himax Technologies from a “sell” rating to a “strong sell” rating in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $5.13.
Shares of NASDAQ:HIMX traded up $0.88 during midday trading on Friday, reaching $4.14. 9,263,461 shares of the company’s stock traded hands, compared to its average volume of 991,977. The company has a market cap of $604.34 million, a price-to-earnings ratio of -104.00 and a beta of 0.90. Himax Technologies has a one year low of $1.70 and a one year high of $5.10. The stock has a 50 day moving average of $3.22 and a 200 day moving average of $3.39.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC lifted its stake in shares of Himax Technologies by 116.1% in the 4th quarter. Renaissance Technologies LLC now owns 1,753,989 shares of the semiconductor company’s stock valued at $4,666,000 after purchasing an additional 942,163 shares during the last quarter. FMR LLC lifted its stake in shares of Himax Technologies by 2,108,660.0% in the 4th quarter. FMR LLC now owns 948,942 shares of the semiconductor company’s stock valued at $2,524,000 after purchasing an additional 948,897 shares during the last quarter. State Street Corp lifted its stake in shares of Himax Technologies by 125.1% in the 1st quarter. State Street Corp now owns 579,713 shares of the semiconductor company’s stock valued at $1,588,000 after purchasing an additional 322,226 shares during the last quarter. Two Sigma Investments LP lifted its stake in shares of Himax Technologies by 173.5% in the 1st quarter. Two Sigma Investments LP now owns 370,102 shares of the semiconductor company’s stock valued at $1,014,000 after purchasing an additional 234,759 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in shares of Himax Technologies in the 1st quarter valued at approximately $742,000. Institutional investors and hedge funds own 10.73% of the company’s stock.
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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