Himax Technologies (NASDAQ:HIMX) posted its quarterly earnings data on Thursday. The semiconductor company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02, Morningstar.com reports. Himax Technologies had a return on equity of 6.12% and a net margin of 3.66%. The firm had revenue of $188.40 million during the quarter, compared to analyst estimates of $188.20 million. During the same period last year, the company posted $0.05 EPS. The business’s quarterly revenue was down 4.4% on a year-over-year basis. 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, hitting $4.41. The stock had a trading volume of 4,565,723 shares, compared to its average volume of 2,079,525. The company has a market cap of $932.80 million, a PE ratio of 27.56, a P/E/G ratio of 32.52 and a beta of -0.27. Himax Technologies has a 1-year low of $4.32 and a 1-year high of $13.95.
Institutional investors and hedge funds have recently modified their holdings of the company. Stelac Advisory Services LLC acquired a new stake in shares of Himax Technologies in the 3rd quarter valued at about $110,000. Russell Investments Group Ltd. acquired a new position in Himax Technologies during the 2nd quarter valued at about $153,000. Sheets Smith Wealth Management acquired a new position in Himax Technologies during the 2nd quarter valued at about $183,000. Engineers Gate Manager LP acquired a new position in Himax Technologies during the 2nd quarter valued at about $201,000. Finally, WESPAC Advisors SoCal LLC acquired a new position in Himax Technologies during the 2nd quarter valued at about $227,000. Institutional investors own 22.92% of the company’s stock.
Several research analysts have recently weighed in on HIMX shares. Roth Capital raised Himax Technologies from a “neutral” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Monday, October 1st. Lake Street Capital set a $8.00 price objective on Himax Technologies and gave the stock a “buy” rating in a research report on Tuesday, September 25th. BidaskClub raised Himax Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday, July 17th. Cowen set a $7.00 price objective on Himax Technologies and gave the stock a “hold” rating in a research report on Thursday, August 9th. Finally, Macquarie lowered Himax Technologies from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $12.00 to $6.00 in a research report on Thursday, August 16th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $7.99.
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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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