Himax Technologies (NASDAQ:HIMX) Issues Earnings Results, Meets Expectations

Himax Technologies (NASDAQ:HIMX) announced its quarterly earnings results on Thursday. The semiconductor company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03), RTT News reports. Himax Technologies had a return on equity of 0.76% and a net margin of 0.26%. The company had revenue of $169.30 million during the quarter, compared to analyst estimates of $170.16 million. During the same quarter last year, the firm posted $0.01 earnings per share. The firm’s revenue was down 6.7% on a year-over-year basis. Himax Technologies updated its Q3 2019 guidance to $-0.05–0.03 EPS.

Himax Technologies stock traded down $0.37 on Friday, hitting $2.34. 2,445,477 shares of the stock traded hands, compared to its average volume of 1,312,748. The stock has a market capitalization of $466.51 million, a price-to-earnings ratio of 39.00 and a beta of 0.04. The firm has a fifty day moving average of $3.22. Himax Technologies has a 1 year low of $2.32 and a 1 year high of $6.78.

Institutional investors have recently made changes to their positions in the business. TRUE Private Wealth Advisors purchased a new position in Himax Technologies during the second quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. lifted its position in Himax Technologies by 201.9% during the first quarter. Migdal Insurance & Financial Holdings Ltd. now owns 9,007 shares of the semiconductor company’s stock valued at $29,000 after buying an additional 6,024 shares during the period. FNY Investment Advisers LLC lifted its position in Himax Technologies by 2,600.0% during the second quarter. FNY Investment Advisers LLC now owns 15,000 shares of the semiconductor company’s stock valued at $52,000 after buying an additional 15,600 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in Himax Technologies during the second quarter valued at $80,000. Finally, Aperio Group LLC lifted its position in Himax Technologies by 178.1% during the second quarter. Aperio Group LLC now owns 41,321 shares of the semiconductor company’s stock valued at $144,000 after buying an additional 26,462 shares during the period. 10.00% of the stock is owned by institutional investors and hedge funds.

A number of analysts recently commented on HIMX shares. Roth Capital reaffirmed a “neutral” rating and issued a $3.50 price target (down previously from $5.00) on shares of Himax Technologies in a research note on Friday, July 12th. ValuEngine raised Himax Technologies from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Northland Securities reaffirmed a “hold” rating and issued a $2.50 price target on shares of Himax Technologies in a research note on Friday. BidaskClub raised Himax Technologies from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 24th. Finally, Credit Suisse Group lowered Himax Technologies from a “neutral” rating to an “underperform” rating in a research note on Friday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $4.86.

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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