Himax Technologies (NASDAQ:HIMX) Updates Q2 Earnings Guidance

Himax Technologies (NASDAQ:HIMX) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of ~$0.01 for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($0.01). The company issued revenue guidance of ~$187 million, compared to the consensus revenue estimate of $175.18 million.Himax Technologies also updated its Q2 2020
Pre-Market guidance to 0.01-0.01 EPS.

A number of analysts have commented on the stock. Northland Securities reaffirmed a hold rating and set a $3.50 price objective on shares of Himax Technologies in a research note on Monday, May 11th. Zacks Investment Research downgraded Himax Technologies from a buy rating to a hold rating in a report on Friday, May 15th. Credit Suisse Group upgraded Himax Technologies from a neutral rating to an outperform rating and set a $4.00 target price on the stock in a report on Wednesday, April 1st. Robert W. Baird began coverage on Himax Technologies in a report on Wednesday, March 25th. They issued an outperform rating and a $6.00 target price on the stock. Finally, BidaskClub downgraded Himax Technologies from a sell rating to a strong sell rating in a report on Thursday, May 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock has an average rating of Hold and a consensus target price of $5.13.

NASDAQ:HIMX opened at $3.82 on Wednesday. The stock’s 50 day moving average price is $3.34 and its 200 day moving average price is $3.45. Himax Technologies has a 52 week low of $1.70 and a 52 week high of $5.10. The company has a market capitalization of $697.34 million, a P/E ratio of -95.50 and a beta of 1.03.

Himax Technologies (NASDAQ:HIMX) last released its quarterly earnings data 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 the consensus estimate of $187.49 million. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The firm’s revenue was up 13.0% on a year-over-year basis. On average, equities analysts predict that Himax Technologies will post -0.06 earnings per share for the current year.

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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