Himax Technologies (HIMX) Trading 5.4% Higher on Strong Earnings
Himax Technologies, Inc. (NASDAQ:HIMX) shares traded up 5.4% during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $4.13 and last traded at $4.12. 4,890,962 shares traded hands during trading, an increase of 121% from the average session volume of 2,212,033 shares. The stock had previously closed at $3.91.
The semiconductor company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Himax Technologies had a net margin of 3.31% and a return on equity of 5.56%. The business had revenue of $191.00 million for the quarter, compared to analysts’ expectations of $191.64 million. During the same period last year, the business earned $0.14 EPS. The company’s revenue was up 5.5% compared to the same quarter last year.
A number of analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Himax Technologies from a “strong-buy” rating to a “hold” rating in a report on Thursday, December 6th. ValuEngine upgraded shares of Himax Technologies from a “sell” rating to a “hold” rating in a report on Monday, December 17th. BidaskClub cut shares of Himax Technologies from a “sell” rating to a “strong sell” rating in a report on Tuesday, November 13th. Robert W. Baird lowered their price target on shares of Himax Technologies from $10.00 to $7.00 and set an “outperform” rating on the stock in a report on Thursday, November 8th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $7.00 target price on shares of Himax Technologies in a research note on Friday, November 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $5.88.
The company has a market cap of $709.05 million, a P/E ratio of 23.88 and a beta of 0.04.
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About Himax Technologies (NASDAQ:HIMX)
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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