Himax Technologies, Inc. (HIMX) Posts Quarterly Results
Himax Technologies, Inc. (NASDAQ:HIMX) released its earnings data on Thursday. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.14, Stock Ratings News reports. The company had revenue of $196.40 million for the quarter, compared to the consensus estimate of $194.95 million. During the same quarter in the previous year, the company posted $0.12 earnings per share. The company’s revenue for the quarter was down 5.1% on a year-over-year basis. Himax Technologies, Inc. updated its Q3 guidance to $0.10-0.15 EPS.
Shares of Himax Technologies, Inc. (NASDAQ:HIMX) traded up 6.33% during mid-day trading on Thursday, hitting $6.97. 2,626,613 shares of the company’s stock traded hands. Himax Technologies, Inc. has a one year low of $5.57 and a one year high of $16.15. The stock’s 50-day moving average is $6.38 and its 200-day moving average is $9.7. The company has a market cap of $1.189 billion and a price-to-earnings ratio of 17.81. Himax Technologies, Inc. also saw unusually large options trading on Wednesday. Traders purchased 25,309 call options on the stock. This represents an increase of 548% compared to the typical daily volume of 3,906 call options.
A number of research firms have recently commented on HIMX. Analysts at Bank of America upgraded shares of Himax Technologies, Inc. from a “neutral” rating to a “buy” rating in a research note on Tuesday. They now have a $7.60 price target on the stock, up previously from $7.00. On a related note, analysts at Lake Street Capital upgraded shares of Himax Technologies, Inc. from a “hold” rating to a “buy” rating in a research note on Monday. Finally, analysts at Brean Capital initiated coverage on shares of Himax Technologies, Inc. in a research note on Wednesday, June 25th. They set a “hold” rating and a $7.75 price target on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $10.93.
Himax Technologies, Inc operates as an IC design house with LCD manufacturing capability. The Company focuses on display IC products for display device and offers LCD technical consulting to customers to provide them with value-added technical support and integrated solutions.
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