Zacks: Brokerages Expect Himax (HIMX) Will Post Quarterly Sales of $157.90 Million

Brokerages forecast that Himax (NASDAQ:HIMX) will post $157.90 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Himax’s earnings, with the lowest sales estimate coming in at $149.40 million and the highest estimate coming in at $163.60 million. Himax reported sales of $155.21 million during the same quarter last year, which indicates a positive year over year growth rate of 1.7%. The firm is scheduled to report its next earnings results on Thursday, May 10th.

On average, analysts expect that Himax will report full-year sales of $157.90 million for the current year, with estimates ranging from $668.10 million to $931.00 million. For the next financial year, analysts expect that the firm will post sales of $919.74 million per share, with estimates ranging from $800.00 million to $1.09 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Himax.

Himax (NASDAQ:HIMX) last announced its earnings results on Tuesday, February 13th. The semiconductor company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.15 by ($0.01). Himax had a net margin of 4.08% and a return on equity of 6.41%. The business had revenue of $181.10 million for the quarter, compared to the consensus estimate of $184.30 million. During the same quarter last year, the firm posted $0.03 EPS. The business’s quarterly revenue was down 11.0% on a year-over-year basis.



A number of analysts have recently commented on the stock. BidaskClub upgraded shares of Himax from a “strong sell” rating to a “sell” rating in a report on Tuesday. ValuEngine cut shares of Himax from a “hold” rating to a “sell” rating in a report on Monday, April 2nd. Roth Capital restated a “neutral” rating on shares of Himax in a report on Thursday, March 15th. Nomura cut shares of Himax from a “buy” rating to a “hold” rating and dropped their price target for the stock from $10.00 to $8.00 in a research note on Friday, March 9th. Finally, Northland Securities cut shares of Himax from an “outperform” rating to a “market perform” rating in a research note on Friday, March 9th. Six investment analysts have rated the stock with a sell rating, five have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $10.79.

A number of institutional investors have recently made changes to their positions in HIMX. Aperio Group LLC bought a new position in Himax in the 4th quarter worth about $107,000. Two Sigma Securities LLC purchased a new position in Himax in the 4th quarter worth about $122,000. Northern Trust Corp raised its position in Himax by 9.7% in the 2nd quarter. Northern Trust Corp now owns 17,846 shares of the semiconductor company’s stock worth $145,000 after buying an additional 1,583 shares during the last quarter. Aviance Capital Management LLC raised its position in Himax by 1,502.5% in the 4th quarter. Aviance Capital Management LLC now owns 14,503 shares of the semiconductor company’s stock worth $151,000 after buying an additional 13,598 shares during the last quarter. Finally, Janney Montgomery Scott LLC purchased a new position in Himax in the 3rd quarter worth about $193,000. Institutional investors own 33.19% of the company’s stock.

Shares of HIMX stock traded down $0.14 during mid-day trading on Tuesday, reaching $7.19. 1,262,916 shares of the company’s stock traded hands, compared to its average volume of 4,169,669. Himax has a 12 month low of $5.97 and a 12 month high of $13.95. The stock has a market cap of $1,239.15, a PE ratio of 44.75, a price-to-earnings-growth ratio of 2.54 and a beta of 0.37.

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About Himax

Himax Technologies, Inc, a fabless semiconductor company, provides display imaging processing technologies to consumer electronics worldwide. The company operates through Driver IC and Non-Driver Products segments. 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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