Himax Technologies (NASDAQ:HIMX) issued its earnings results on Thursday. The semiconductor company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02, Morningstar.com reports. The firm had revenue of $188.40 million for the quarter, compared to the consensus estimate of $188.20 million. Himax Technologies had a return on equity of 6.12% and a net margin of 3.66%. The company’s revenue was down 4.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS. Himax Technologies updated its Q4 2018 guidance to $0.02-0.04 EPS and its Q4 guidance to $0.02-0.04 EPS.
Shares of HIMX traded down $0.41 during trading hours on Friday, reaching $4.41. The stock had a trading volume of 4,565,723 shares, compared to its average volume of 2,079,525. Himax Technologies has a 12 month low of $4.32 and a 12 month high of $13.95. The stock has a market capitalization of $932.80 million, a price-to-earnings ratio of 27.56, a PEG ratio of 32.52 and a beta of -0.27.
A number of brokerages have weighed in on HIMX. Credit Suisse Group reaffirmed a “neutral” rating and issued a $7.00 target price on shares of Himax Technologies in a report on Friday. Robert W. Baird reduced their target price on Himax Technologies from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Thursday. Zacks Investment Research raised Himax Technologies from a “hold” rating to a “strong-buy” rating and set a $7.00 target price on the stock in a report on Thursday, October 11th. Roth Capital raised Himax Technologies from a “neutral” rating to a “buy” rating and set a $7.00 target price on the stock in a report on Monday, October 1st. Finally, Lake Street Capital set a $8.00 target price on Himax Technologies and gave the company a “buy” rating in a report on Tuesday, September 25th. Three research analysts have rated the stock with a sell rating, six have given a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $7.99.
Several institutional investors and hedge funds have recently made changes to their positions in the company. SG Capital Management LLC bought a new position in shares of Himax Technologies in the 2nd quarter valued at $6,190,000. Pendal Group Ltd bought a new position in shares of Himax Technologies in the 2nd quarter valued at $4,812,000. Bank of America Corp DE lifted its stake in shares of Himax Technologies by 611.1% in the 2nd quarter. Bank of America Corp DE now owns 551,903 shares of the semiconductor company’s stock valued at $4,117,000 after acquiring an additional 474,291 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Himax Technologies in the 2nd quarter valued at $3,886,000. Finally, Guggenheim Capital LLC lifted its stake in shares of Himax Technologies by 114.9% in the 1st quarter. Guggenheim Capital LLC now owns 182,223 shares of the semiconductor company’s stock valued at $1,122,000 after acquiring an additional 97,417 shares during the last quarter. Institutional investors own 22.92% of the company’s stock.
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Himax Technologies Company Profile
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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