$191.28 Million in Sales Expected for Himax Technologies, Inc. (HIMX) This Quarter
Wall Street analysts predict that Himax Technologies, Inc. (NASDAQ:HIMX) will report $191.28 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Himax Technologies’ earnings, with the highest sales estimate coming in at $192.00 million and the lowest estimate coming in at $189.20 million. Himax Technologies posted sales of $218.08 million during the same quarter last year, which would indicate a negative year over year growth rate of 12.3%. The business is expected to announce its next quarterly earnings results before the market opens on Thursday, November 9th.
On average, analysts expect that Himax Technologies will report full-year sales of $191.28 million for the current fiscal year, with estimates ranging from $684.93 million to $735.00 million. For the next fiscal year, analysts expect that the firm will report sales of $859.65 million per share, with estimates ranging from $768.40 million to $930.00 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Himax Technologies.
Several equities research analysts have recently issued reports on HIMX shares. Mizuho downgraded Himax Technologies from a “buy” rating to a “neutral” rating in a research report on Wednesday, October 11th. Roth Capital reiterated a “buy” rating and issued a $10.00 target price on shares of Himax Technologies in a research note on Tuesday, September 5th. Rosenblatt Securities cut shares of Himax Technologies from a “neutral” rating to a “sell” rating and cut their price target for the stock from $7.00 to $6.00 in a research note on Friday, July 21st. Credit Suisse Group upgraded shares of Himax Technologies from a “neutral” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Friday, August 4th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “sell” rating and set a $4.00 price objective on shares of Himax Technologies in a report on Thursday, September 7th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $10.03.
Shares of Himax Technologies (HIMX) opened at $10.79 on Friday. The stock has a market capitalization of $1.88 billion, a price-to-earnings ratio of 91.25, a PEG ratio of 4.38 and a beta of 0.69.
A number of large investors have recently bought and sold shares of the business. FMR LLC grew its holdings in Himax Technologies by 54.9% in the second quarter. FMR LLC now owns 9,055,317 shares of the semiconductor company’s stock worth $74,253,000 after purchasing an additional 3,209,380 shares during the period. Kayak Investment Partners LLC lifted its position in shares of Himax Technologies by 22.3% during the second quarter. Kayak Investment Partners LLC now owns 2,633,900 shares of the semiconductor company’s stock valued at $21,598,000 after purchasing an additional 479,400 shares in the last quarter. Dalton Investments LLC lifted its position in shares of Himax Technologies by 69.1% during the second quarter. Dalton Investments LLC now owns 1,940,566 shares of the semiconductor company’s stock valued at $15,913,000 after purchasing an additional 792,968 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Himax Technologies by 0.8% during the second quarter. California Public Employees Retirement System now owns 519,300 shares of the semiconductor company’s stock valued at $4,258,000 after purchasing an additional 4,300 shares in the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of Himax Technologies by 112.0% during the second quarter. Verition Fund Management LLC now owns 303,622 shares of the semiconductor company’s stock valued at $2,490,000 after purchasing an additional 160,422 shares in the last quarter. Institutional investors and hedge funds own 21.64% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “$191.28 Million in Sales Expected for Himax Technologies, Inc. (HIMX) This Quarter” was first published by American Banking News and is owned by of American Banking News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://www.americanbankingnews.com/2017/11/04/191-28-million-in-sales-expected-for-himax-technologies-inc-himx-this-quarter.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Himax Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Himax Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.