Zacks: Brokerages Expect Himax (HIMX) to Post -$0.03 Earnings Per Share

Equities analysts predict that Himax (NASDAQ:HIMX) will post earnings per share of ($0.03) for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Himax’s earnings, with the highest EPS estimate coming in at ($0.02) and the lowest estimate coming in at ($0.06). Himax reported earnings per share of $0.01 during the same quarter last year, which would indicate a negative year over year growth rate of 400%. The company is expected to announce its next quarterly earnings results on Thursday, May 10th.

According to Zacks, analysts expect that Himax will report full-year earnings of $0.12 per share for the current year, with EPS estimates ranging from ($0.01) to $0.38. For the next fiscal year, analysts forecast that the firm will report earnings of $0.31 per share, with EPS estimates ranging from $0.13 to $0.60. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Himax.

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Himax (NASDAQ:HIMX) last released its quarterly earnings results on Tuesday, February 13th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.01). The firm had revenue of $181.10 million for the quarter, compared to analysts’ expectations of $184.30 million. Himax had a return on equity of 6.41% and a net margin of 4.08%. The company’s quarterly revenue was down 11.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.03 EPS.

A number of research analysts recently issued reports on HIMX shares. BidaskClub downgraded Himax from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 9th. Lake Street Capital set a $13.00 price target on Himax and gave the stock a “buy” rating in a research note on Thursday, December 28th. Robert W. Baird raised their price target on Himax from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, January 9th. Zacks Investment Research downgraded Himax from a “hold” rating to a “sell” rating in a research note on Wednesday, January 10th. Finally, Credit Suisse Group set a $15.00 price target on Himax and gave the stock a “buy” rating in a research note on Thursday, January 11th. Six equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Himax has an average rating of “Hold” and an average price target of $10.79.

A number of institutional investors have recently bought and sold shares of the business. Northern Trust Corp lifted its position in Himax by 9.7% during the 2nd quarter. Northern Trust Corp now owns 17,846 shares of the semiconductor company’s stock worth $145,000 after acquiring an additional 1,583 shares during the period. Aperio Group LLC acquired a new stake in Himax during the 4th quarter worth approximately $107,000. State Street Corp lifted its position in Himax by 9.6% during the 2nd quarter. State Street Corp now owns 125,071 shares of the semiconductor company’s stock worth $1,025,000 after acquiring an additional 10,969 shares during the period. Two Sigma Securities LLC acquired a new stake in Himax during the 4th quarter worth approximately $122,000. Finally, Aviance Capital Management LLC lifted its position in Himax by 1,502.5% during the 4th quarter. Aviance Capital Management LLC now owns 14,503 shares of the semiconductor company’s stock worth $151,000 after acquiring an additional 13,598 shares during the period. 33.19% of the stock is owned by institutional investors.

NASDAQ:HIMX opened at $6.38 on Friday. The company has a market cap of $1,098.02, a P/E ratio of 39.88, a PEG ratio of 2.25 and a beta of 0.37. Himax has a 52-week low of $5.97 and a 52-week high of $13.95.

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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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